Bilateral trade between Vietnam and South Korea is forecast to touch US$5 billion this year, up 19.05 per cent on-year, and the figure is expected to double to US$10 billion in 2020, said South Korean Ambassador to Vietnam Kim Eui-ki at a party held in Hanoi on October 3 to celebrate his country's National Day.
The two-way trade value stood at US$4.2 billion in 2005, nine times higher than that of 1992, he added.
Vietnam mainly exports seafood, garment, crude oil, footwear, coffee, and rubber to South Korea and imports raw materials, machines, steel, computers, electronic components, automobiles and fertilizer from the country.
Addressing the event, the ambassador believed that the friendly and cooperative relationship between Vietnam and South Korea would be further developed for the mutual interests of the two peoples.
At present, South Korea ranks fourth among foreign investors in Vietnam with total capital of $5.3 billion, helping generate 300,000 jobs for local workers.
In addition, Vietnam has also become one of the biggest ODA recipients of South Korea with $260 million including $60 million in non-refundable aid.
Around 230,000 Korean tourists arrived in Vietnam in the first half of this year, and the figure will likely reach 400,000 by the year’s end.
Labor, Saigon Times Daily
Vietnamese
