(VOVworld) – Deputy Prime Minister Nguyen Xuan Phuc has said that Vietnam treasures its relationship with the Republic of Korea. Phuc was speaking at a meeting with Prime Minister Chung Hong-won on Monday in the Republic of Korea. He pledged Vietnam’s efforts to boost cooperation in economics, trade, investment and labor. The Vietnamese Deputy Prime Minister urged the Soul government to create favorable conditions for Vietnamese exports to Korea in order to reduce Vietnam’s import surplus. He also welcomed Korean enterprises for their large scale investment, technological transfer and assistance for Vietnam’s auxiliary industry.

Deputy Prime Minister Nguyen Xuan Phuc meets Republic of Korean Prime Minister Chung Hong-won (Photo: VGP)

Prime Minister Chung proposed that both sides make efforts to sign the bilateral Free Trade Agreement (FTA) this year, creating momentum for realizing the target of 70 billion USD two-way trade by 2020. He also pledged to take measures to help reduce Vietnam’s import surplus.

Both sides agreed to strengthen cooperation in regional and global forums, maintain peace, stability, and freedom of navigation in the regional waters and airspace in accordance with international laws. Deputy Prime Minister Phuc voiced Vietnam’s support for peace, stability and nuclear non-proliferation in the Korean peninsula.