The agreement was reached during talks in Seoul on March 28 between RoK President Lee Myung-bak and visiting Vietnamese Prime Minister Nguyen Tan Dung.
PM Dung and President Lee shared the view that Vietnam-RoK relations have developed fruitfully since both countries established diplomatic ties in 1992, particularly after their top leaders agreed to set up the strategic partnership in 2009.
This fine relationship has brought practical benefits to the two nations, for the sake of development in each country, and for peace, stability, cooperation and development in the region and the rest of the world, they said.
They held that an increase in the exchange of high-level delegation visits will help build up mutual trust and understanding, contributing to deepening the bilateral strategic partnership.
Both host and guest agreed to work closely to balance bilateral trade, in which Vietnam suffers from an import surplus, and to soon kick-start negotiations for the Vietnam-RoK free trade agreement (FTA).
President Lee confirmed that the RoK considers Vietnam one of its leading partners in investment and development cooperation.
The RoK will consider Vietnam’s proposals regarding cooperation in trade, investment, development aid, science-technology, education-training, transport, construction, and agriculture, said President Lee.
He said the RoK government will also consider building an express railway line linking Ho Chi Minh City and Can Tho City, a technology incubator in Can Tho City, and financing the National Highway No1 upgrade project.
Both host and guest agreed to promote cooperation in labour and vocational training, and settle related issues such as support and protection of their citizens living in each other’s territories, including Vietnamese women married to Korean men.
They also agreed to coordinate closely at regional and international forums.
PM Dung congratulated the RoK government on its successful hosting of the second Nuclear Security Summit on March 26-27, thereby raising the country’s position in the world arena.
After talks, PM Dung and President Lee witnessed the signing of a number of cooperation agreements between the two countries.
They include a memorandum of understanding on development cooperation in the financial sector between the Vietnamese Ministry of Finance and the Korean Ministry of Finance and Strategy, a memorandum of understanding on cooperation in building a technology incubator, and a cooperation agreement on developing nuclear energy for peaceful purposes between the Vietnamese Ministry of Industry and Trade and the Korean Ministry of Knowledge Economy.
The same day, PM Dung met with several executives of RoK businesses.
Mr Dung arrived in Seoul on March 26 to attend the second Nuclear Security Summit and pay an official visit to the RoK at the invitation of President Lee.