Mekong–Republic of Korea Business Forum Facilitates Trade Partnership

The 8th Mekong–Republic of Korea (RoK) Business Forum acknowledged how the RoK and the Mekong countries sustained their trade to 2019 levels amid the pandemic by upholding their trade relations. The Forum was held on 4 December in-person in Hanoi, Viet Nam, and online. 

The meeting recalled decisions undertaken at recent summits, elevating the Mekong–RoK cooperation to a strategic partnership for improved joint work in priority areas and strengthened resilience capacity of regional supply chains and business operations. Leaders of the RoK and the Mekong countries also promoted deeper collaboration among the private sector through business and investment opportunities.  

RoK Deputy Minister of Foreign Affairs Lee Tae-ho noted that leaders of the Mekong region and the RoK are determined to enhance collaboration to overcome difficulties and recover their economies. Pushing for stronger ties with the Mekong nations, the RoK pledged to contribute $10 billion to the fund for cooperation and coronavirus disease (COVID-19) prevention and control. Additionally, the Deputy Minister underscored the need for deeper collaboration in water management and response to climate change and natural disasters. 

Viet Nam Deputy Minister of Foreign Affairs Le Hoai Trung remarked on the importance of the Mekong–RoK partnership in boosting regional economic integration, innovation, and economic competitiveness. 

The Forum was attended by over 350 representatives of relevant ministries, sectors, localities business associations and enterprises. Key topics tackled included the short- and long-term effects of the COVID-19 pandemic, development trends, challenges and opportunities facing businesses, particularly small- and medium-sized enterprises (SMEs), and government policies supporting post-pandemic recovery. 

The RoK supports select projects in the GMS Regional Investment Framework (RIF) 2022,  focusing on the transport sector, and health and other human resource development sectors.