MoIT Minister Vu Huy Hoang had a working session with a delegation from the DPRK led by Minister of Foreign Trade Ri Ryong-nam to discuss the future of Vietnam-DPRK cooperation.
Minister of Industry and Trade Vu Huy Hoang had a working session with a delegation from the Democratic People’s Republic of Korea (DPRK) led by Minister of Foreign Trade Ri Ryong-nam in Hanoi on October 26 to discuss the future of Vietnam-DPRK cooperation.
The two ministers agreed to appoint working groups to study and discuss plans for further expanding bilateral cooperation with a focus on economy, trade and investment.
They also looked to boost cooperation in health care, education, science and technology, banking and transportation.
According to Minister Vu Huy Hoang, trade ties between the two countries have been limited with many business opportunities going untapped over the past years.
The two sides are scheduled to take part in a number of group discussions on cooperation in trade; support and heavy industries; and power, mining and chemical sectors between October 26 and 29.
Statistics by the Ministry of Industry and Trade show that trade between Vietnam and the DPRK has shed about half of its value over the past three years, from 15 million USD in 2012 to 8 million USD last year, largely due to differences in economic mechanisms and difficulties in communication and payments.
In 2014, the DPRK proposed establishing a special economic zone for Vietnam, which is hoped to be a symbol of their bilateral relationship.
The DPRK also pledged to offer preferential policies to Vietnamese investors in the country.-VNA
A National Assembly delegation led by Vice Chairman Huynh Ngoc Son visited the Democratic People’s Republic of Korea (DPRK) to foster partnerships between the two legislative bodies.
President of the Vietnam Union of Friendship Organisations (VUFO) Vu Xuan Hong paid a working visit to the Democratic People’s Republic of Korea (DPRK).
The Democratic People’s Republic of Korea (DPRK) hopes to step up trade union friendships with Vietnam through pragmatic activities for the legal rights and interests of workers.
The Democratic People’s Republic of Korea (DPRK)’s Embassy in Vietnam hosted a reception in Hanoi on October 7 to mark the 70 th founding anniversary of the Workers’ Party of Korea (WPK).
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
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Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
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This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
While the US market has become more difficult to access due to new tax policies, Australia could play the role of a trade cushion, helping to reduce shocks and maintain export momentum for Vietnam's shrimp industry.
Illustration image (Source: VNA)
