Promoting Vietnam - RoK strategic partnership

This is her first visit to Vietnam and the fifth by RoK Heads of State since the two countries established diplomatic relations in 1992.

The visit affirms the great significance that both sides attach to strengthening a strategic partnership between the countries, maintaining mutual understanding and trust between their leaders and creating positive momentum to boost bilateral co-operation in all fields.

Receiving the visiting President, the people of Vietnam congratulate RoK leaders and the Korean people on their great achievements in building a prosperous country, which have made the country of "Miracle of the Han River"; become the fourth largest economy in Asia and one of the 15 most industrialised countries in the world.

For over two decades, ever since diplomatic relations were established, and for the past four years since the strategic partnership was established in October 2009, bilateral ties have flourished in many areas.

Both sides regularly exchange delegations at all levels. This year, Speaker of the RoK National Assembly Kang Chang-Hee visited Vietnam in January while Vice State President Nguyen Thi Doan visited the RoK and attended President Park Geun-hye's swearing-in ceremony in February. In addition, NA Chairman Nguyen Sinh Hung and Deputy Prime Minister Nguyen Thien Nhan visited the country in July and August respectively.

The RoK supports Vietnam's open-door and reform policies and coordinates effectively with the country in many international forums and organisations, including the United Nations, the Association of Southeast Asian Nations, the Asia-Europe Meeting, the World Trade Organisation and Asia-Pacific Economic Co-operation.

Vietnam attaches great importance to developing the strategic partnership with the RoK and upholds the consistent policy of supporting peace, stability and denuclearisation of the Korean Peninsula.

It also welcomes and strives to create favourable conditions for the RoK business community to increase foreign investment in Vietnam.

The RoK has consistently been one of the Vietnam's most important economic partners and the third largest source of foreign investment for the country with total registered capital of US$24.8 billion. It also ranks fourth in bilateral trade which was over US$21 billion in 2012.

The second largest Official Development Assistance provider has committed to provide Vietnam with US$1.2 billion in the 2012-2015 period. Over 700,000 people from the RoK visited Vietnam in 2012 and about 68,000 Vietnamese workers are currently working in the ROK, making it the country's second largest export labour market. The RoK community in Vietnam is a large one with over 100,000 people.

The two countries have established an Inter -Governmental Committee on Economic Co-operation, which organised regular meetings to promote bilateral economic ties.

In spite of global economic downturn's effects, RoK businesses still value medium- and long-term potential of the economy and the favourable economic environment of Vietnam.

President Park Geun-hye's visit exemplifies the commitment of the two countries leaders to maintain high level exchanges and meetings in order to elevate the political relations and enhance multi-faceted co-operation, particularly in economics, investment, trade, tourism, labour, science, technology, culture, education, as well as to discuss regional and international issues of mutual concern.

On this occasion, the Vietnam leaders and people would like to express their sincere gratitude to the Government and people of the RoK for their support in building and developing the country.

May RoK people continue to create further "miracles of the Han River" to enrich their nation.

May the visit be crowned with success, creating a momentum for fostering and tightening the strategic partnership, responding to both nations' interest and expectations and contributing to enhancing peace, stability, friendship, co-operation and development of all nations in the region and the world.

(Source: Nhandannewspaperonline)