Vietnamese and RoK scientists and managers gathered at a seminar inHanoi on August 25 to discuss the Vietnam-RoK economic cooperation andprospects until 2020.

The event was jointly heldby the National University of Economics, the Embassy of the Republicof Korea (RoK) in Vietnam , the Korea Foundation and the KoreaInstitute for Industrial Economics and Trade.

According to the participants, among Vietnam ’s internationalrelations, the relationship with the RoK is emerging as a promisingbilateral cooperation, with two-way trade in 2010 being 86 times higherthan that of 1990.

The Korea Foundation emphasisedthe need for a further cooperation between the two countries in thecoming time with the involvement of their people.

The two countries will set up the Vietnam-RoK Research Fund and the Global Electronics School , he said.

To reduce trade deficit, Vietnamese businesses should improve thequality of their products exported to the RoK, said Prof. Dr. Nguyen VanNam, Rector of the Hanoi University of Economics.

The participants pointed out bright prospects for the Vietnam-RoK tiesas the two countries have raised their normal diplomatic relations to acomprehensive partnership and then a strategic partnership in a shorttime.

According to the Ministry of Planning andInvestment, the RoK has so far operated 2, 810 projects in Vietnam with atotal investment of nearly 23 billion USD, becoming the second largestforeign investor in terms of capital and the largest holder of FDIprojects in the Southeast Asian country./.