The Vietnamese Minister of Industry and Trade and the Korean Minister of Trade, Industry and Energy sign cooperative documents (Photo credit: Asia-Africa Market Department)

Vietnamese Minister of Industry and Trade Nguyen Hong Dien and the Republic of Korea (RoK)’s Minister of Trade, Industry and Energy Moon Sung-wook co-chaired the meeting. The two ministers discussed measures to support enterprises in adapting to COVID-19, maintaining operations, and seeking new motivations.

In the area of trade, the officials agreed to work together to implement measures to expand the scale of bilateral trade, including broadening the market for farm produce and settling trade barriers, and cooperate on logistics infrastructure and distribution.

In the area of industry, the two ministers agreed to strengthen cooperation to connect the supply chains between the two countries and support enterprises to optimize advantages from FTAs that both countries have signed, strengthen investment link in automobile, mechanics, electronics, textiles and chemicals.

In terms of energy, both sides will encourage enterprises to foster partnership in technology transfer in energy, especially new energies.

Following the two meetings, the two ministers signed four documents, including a memorandum of understanding between the Ministry of Industry and Trade and Ministry of Trade, Industry and Energy on middle and long-term cooperation in commercial urea for industrial use.