Party General Secretary Nong Duc Manh’s visit to the Republic of Korea (RoK) takes place while the two countries are celebrating the 15th anniversary of diplomatic ties. Leaders of the two countries will discuss measures to promote the bilateral comprehensive partnership for the 21st century.

Party General Secretary Nong Duc Manh left Hanoi on November 14 for the official visit to the RoK at the invitation of President Roh Moo-huyn.

Mr Manh is accompanied by Politburo member, Deputy Prime Minister and Minister of Foreign Affairs Pham Gia Khiem, Party Central Committee (PCC) member and head of the PCC Commission for External Affairs Tran Van Hang, PCC member and head of the PCC Office Ngo Van Du and Minister of Industry and Trade, Vu Huy Hoang.

Vietnam and the RoK have enjoyed continual development in relations since diplomatic ties were established 15 years ago.

Vietnam and the RoK have regularly exchanged high-level visits, with trips by former President Tran Duc Luong in November 2005 and President Roh Moo-hyun in 2006.

During an official visit of the former State President Tran Duc Luong to the RoK in August 2001, the nations’ leaders issued a joint declaration that formed a comprehensive partnership between Vietnam and the RoK for the 21st century.

Regarding economic ties, the RoK has been one of Vietnam’s five largest economic partners over the past 15 years. Two-way trade has grown rapidly, reaching close to US$5 billion last year, 10 times higher than that in 1992.

The RoK has taken the lead in investment in Vietnam. By July 2007, the country had poured nearly US$9.36 billion into some 1,460 projects, ranking first among 78 foreign investors in Vietnam.

Major RoK groups such as Samsung, Daewoo, Kumho and LG have all developed a strong presence in the Southeast Asian countries and shown their approval of its investment environment.

So far, the RoK has provided and pledged US$188 million in soft credits and US$80 million in non-refundable aid for Vietnam. The country has also decided to increase its soft credit and grants to Vietnam to US$100 million and US$9.5 million, respectively, from 2006-2009.

The East Asian nation is considered Vietnam’s key tourism partner and largest market for guest workers. (VOVNews/VNS)