(VOVworld) – The Vietnam-Republic of Korea (RoK) Joint Committee for cooperation convened the first meeting in Hanoi on Friday attended by Vuong Dinh Hue, Head of the Party Central Committee's Commission for Economic Affairs and Joo Hyung Hwan, the visiting Korean Deputy Minister of Strategy and Finance.

Vuong Dinh Hue, Head of the Party Central Committee's Commission for Economic Affairs, is working with the Korean delegation led by Joo Hyung Hwan, Deputy Minister of Strategy and Finance. (Photo: Thanh Liem/ VGP)

Hue said they should develop specific plans to realize trade agreements and expected the Korean side to provide funding to help Vietnam improve its capacity in implementing the Vietnam-Korea Free Trade agreement (FTA).

Hue noted that the two countries should increase cooperation and look for solutions to raise two-way trade turnover to 70 billion USD by 2020.

In reply, Deputy Minister Hwan said Korea was ready to share with Vietnam its experience in technology transfer, and financial assistance for a project to build a high-speed railway system, as well as for banking and e-government.