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기사입력 : 2023.12.11 09:15
South Korea and Vietnam are actively proceeding with the establishment of the "Korea-Vietnam Core Mineral Supply Chain Center" to expand the achievements of cooperation in supply chains, trade and investment, and energy discussed during the two recent summit meetings in December 2022 and June 2023. Additionally, both countries have agreed to enhance collaboration in the "Carbon-Free Initiative" and other areas related to carbon neutrality and future industries.
On December 7th, Minister of Industry, Trade, and Resources, Moon-kyuBang, presided over the "13th Korea-Vietnam Joint Committee on Industry" and the "7th Korea-Vietnam FTA Joint Committee" in Seoul's Shilla Hotel, where he discussed ways to strengthen economic cooperation between the two countries with Nguyen Hong Dien, Minister of Industry and Trade of Vietnam.
During the Industry Joint Committee, the two countries agreed to expedite the implementation of the "Memorandum of Understanding (MOU) on Core Mineral Supply Chain Cooperation" signed during the state visit, facilitating joint efforts in establishing the Core Mineral Supply Chain Center and advancing cooperation in material and component technology development. They also signed the "MOU on Joint Research for Core Mineral Supply Chain."
To achieve the declared goal of reaching a trade volume of $150 billion by 2030, both nations pledged to continue supporting a total of 111 agreements between private entities. They also decided to hold a total of 10 private-sector economic cooperation events, including trade counseling sessions and investment conferences, led by their respective trade promotion agencies (KOTRA - VIETRADE). Furthermore, the two countries committed to enhancing cooperation for carbon neutrality, including joint projects for greenhouse gas reduction and Vietnam's liquefied natural gas (LNG) power generation.
At the FTA Joint Committee, marking the 10th anniversary of the Korea-Vietnam FTA coming into effect in 2025, discussions focused on the strategic utilization of the FTA. The committee examined issues related to import regulations, updating Rules of Origin criteria by product, resolving non-tariff barriers, and agricultural trade. The goal is to check the progress of the Korea-Vietnam FTA and discuss collaboration methods to enhance its utilization by companies.
Minister Moon-kyuBangexpressed that the bilateral relationship has become closer than ever after the two recent summit meetings and pledged to expand cooperation with Vietnam not only in traditional manufacturing but also in new areas such as supply chains and clean energy based on past achievements.
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