The 9th session of the Vietnam-RoK Joint Committee on cooperation in energy, industry and trade took place in Seoul on October 22, aiming to concretize potential between the two countries.

The event was co-chaired by Vietnamese Deputy Minister of Industry and Trade Tran Quoc Khanh and Vice Trade Minister at the Korean Ministry of Trade, Industry and Energy (MOTIE) Kim Yong-rae.

During the event, the two sides agreed to enhance cooperation in improving Vietnam’s production capacity, especially in processing, manufacturing, and support industry; and in fostering exports to the RoK market and third countries.

They will work closely to soon launch a Vietnam-RoK consultancy and technology solution centre (VITASK) in 2019, and build a database system on enterprises operating in support industry, thus making it easier for Korean firms to learn about the market and partner with Vietnamese enterprises in this field.

The RoK will continue to support Vietnamese textile producers in improving their digital design capacity.

VITASK is an important project and expected to foster the transfer of support industrial technology to Vietnamese firms, and to support Vietnam in designing, manufacturing, testing support industrial products.

For trade cooperation, the two sides pledged to take all necessary measures to further bolster trade and investment ties in the direction of increasing Vietnam’s export of farm and aquatic products  to the RoK, and the RoK’s investment into Vietnam in producing and processing foods and technical infrastructure development.

The two sides agreed to strengthen cooperation in trade defence through continuing their coordination in implementing a technical assistance programme to help Vietnam develop and operate an early warning system of trade defence, thus providing useful information for Vietnamese and Korean FDI enterprises operating in Vietnam.

At the session, a Memorandum of Understanding between the Vietnamese Ministry of Industry and Trade (MoIT) and Samsung Vietnam on cooperation in training human resources in producing molds was signed.