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PM Dung urges for stronger ASEAN-RoK mutual trust

Published: 31/05/2009 05:00

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LookAtVietnam – Prime Minister Nguyen Tan Dung has called on ASEAN and the Republic of Korea to strengthen mutual confidence and build up basic foundations for sustainable development in order to boost cooperation in trade and investment.

The Vietnamese Government leader made the call at a business forum between the Association of Southeast Asian Nations (ASEAN) and the East Asian country on the Jeju island on May 31 as part of his itinerary in the Republic of Korea to attend a summit to mark the 20th anniversary of the ASEAN-RoK dialogue ties.

He said the two parties should also make greater efforts to narrow gaps of development, speed up the execution of signed agreements and work for new ones and remove all barriers for mutual development.

Dung spotlighted ASEAN efforts to set up an economic community by 2015, where commodities and services are freely circulated, skilled and professional workers enjoy free movements and capital flow moves with less restraint.

“Along with the ASEAN-RoK free trade area, the prospect for trade and investment between the two areas will certainly undergo great changes that requires businesses from the two sides to boost cooperation, exchange information and forecasts for the future and emerging challenges,” said the Vietnamese Government leader.

The Asian economic power has so far become ASEAN’s major economic partner with bilateral trade revenues up to over 90 billion USD in 2008 from over 46 billion USD in 2004.

A number of accords have been signed, especially the framework agreement on comprehensive economic cooperation between the ASEAN and the RoK in 2005.

Other accords included an agreement on commodities trading in 2006 and an agreement on services trading in 2007. In March this year, the ASEAN-RoK Centre was put into operation to boost investment, trade and tourism.

However, the Vietnamese Prime Minister emphasised that the two sides should work much harder to make economic cooperation match their friendship and potential as well as their expectations.

“Business circles will considerably contribute to developing cooperation between ASEAN and RoK in a more effective way in the future,” he said.

PM Dung took this opportunity to brief the forum of the success made by RoK businesses in Vietnam, praising them as a leading economic partner in the country as two-way trade revenues reached almost 9 billion USD last year, an increase of over 34 percent year on year.

The RoK has invested almost 19 billion USD in 2,150 projects, ranking second among foreign investors in Vietnam .

On the occasion of Dung’ visit, businesses from the two countries have signed a number of important documents and agreements.

“This has contributed to cooperation between RoK and ASEAN,” the Vietnamese Prime Minister concluded.

Later at a talk with RoK and Vietnamese businesses, PM Dung said that Vietnam has maintained its high economic growth thanks in a large part to foreign investment as the FDI sector contributed 15 percent of the country’s GDP and 30 percent of industrial production value.

Therefore, Vietnam always considers foreign-invested businesses an inseparable part of its economy and is determined to create favourable conditions for foreign investors, including those from the RoK, to do business in the country, he noted.

The Prime Minister also highly valued RoK enterprises’ efforts and contributions to strengthening the economic cooperation between the two countries over the past time.

“The Vietnamese government will give special priority to foreign investors in the agriculture and rural development sector and encourage RoK businesses to invest in agricultural machine manufacturing, infrastructure and heavy industry,” Dung said.

He affirmed that the government will instruct ministries and agencies and localities to join hands with RoK businesses in solving difficulties in site clearance, tax and infrastructure in an effort to help RoK businesses effectively operate in Vietnam, bringing practical benefits to both sides.

Leaders of the 10 leading RoK enterprises expressed their wish to expand their investment in Vietnam, especially in infrastructure, real estate and agricultural machines.

They also pledged to work for stronger cooperation between the two countries not only in economics, trade and investment but also in culture, education and training, science and technology.

Earlier, PM Nguyen Tan Dung received in Seoul the President of the RoK-Vietnam Friendship Association, Park Noh-soo.

VietNamNet/VNA

Provide by Vietnam Travel

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