Vietnam - South Korea Trade and Investment Cooperation: 30-Year Milestone and Orientation
Keywords:
Trade, investment, FTA, FDI, Vietnam, Korea.Abstract
More than 30 years since the official establishment of diplomatic relations in December 1992, the relationship between Vietnam and the Republic of Korea (hereinafter referred to as Korea for short) has deepened, making strong progress, and achieving great cooperation. The rapid development of cooperative relations between the two countries is due to their sharing many similarities in terms of geography, history, and culture. Their economies are highly complementary regarding structure and similar fundamental interests in bilateral and multilateral cooperation. The two countries have signed and shaped legal frameworks to promote cooperation through bilateral and multilateral channels. These include the World Trade Organisation (WTO), ASEAN - Korea Free Trade Area (AKFTA), and Vietnam - Korea Free Trade Agreement (VKFTA). Since Vietnam joined the WTO and signed AKFTA in 2007 along with Korea, their relationship has been upgraded from a comprehensive partnership formed in 2001 to a strategic one in 2009, and economic cooperation between the two countries has developed strongly. In 2015, they both signed the VKFTA, creating a new wave of economic cooperation between them. This article aims to analyse 30 years of Vietnam -Korea trade and investment cooperation and future orientation.
Classification number
Economics
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Published
2022-11-23
References
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