MOSCOW (Pakistan Point News / Sputnik - 23rd June, 2023) South Korean President Yoon Suk-yeol and his Vietnamese counterpart, Vo Van Thuong, held a meeting on Friday and agreed to strengthen economic cooperation between the countries and unite efforts in curbing the nuclear threat from North Korea.
"North Korea's nuclear and missile programs are the most urgent security threat in the region. South Korea and Vietnam will strengthen coordination both at the ASEAN level and bilaterally to draw a united response from the international community," Yoon said at a joint press conference with Thuong, as quoted by the South Korean Yonhap news agency.
Thuong, in turn, said Vietnam is "ready to contribute to the denuclearization of the Korean Peninsula."
The South Korean president also announced Seoul would provide Hanoi with $4 billion worth of soft loans by 2030 within the development assistance program, the news outlet reported.
In order to reach their target of $150 billion in bilateral trade by 2030, the sides agreed to establish an Electronic Origin Data Exchange System designed to facilitate duties clearance under the free trade agreement.
Additionally, the countries agreed to hold foreign ministerial consultations each year and boost cooperation between their defense industries, according to the report.
The South Korean coast guard and Vietnamese Ministry of Public Security signed a memorandum of understanding on cooperation aimed at strengthening Vietnam's capabilities.
In total, the sides signed 17 agreements and documents during the top level summit.
