On July 2nd, in the capital city of Seoul, Prime Minister Pham Minh Chinh engaged in official talks with South Korean Prime Minister Han Duck Soo and presided over the signing ceremony of several cooperation agreements between Vietnam and South Korea. Among the documents signed, Prime Minister Pham Minh Chinh and Prime Minister Han Duck Soo formally witnessed the exchange of a Memorandum of Understanding on cooperation between the Vietnam Competition Commission and the Korea Fair Trade Commission.
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On the morning of July 2nd, in the capital city of Seoul, Prime Minister Pham Minh Chinh and South Korean Prime Minister Han Duck Soo formally observed the signing of a Memorandum of Understanding on cooperation between the Vietnam Competition Commission and the Korea Fair Trade Commission
In recent times, Vietnam and South Korea have undertaken numerous cooperative activities in competition and consumer protection. These activities have yielded positive outcomes both bilaterally and regionally. To further consolidate and advance this favorable relationship, the competition and consumer protection agencies of Vietnam and South Korea deliberated and reached an accord to sign a Memorandum of Understanding on cooperation in these areas.
The primary areas of cooperation outlined in the Memorandum include: sharing best practices through the exchange of personnel, exchanging non-confidential information and experiences in areas of mutual interest, and notifying each other of their competition and consumer protection law enforcement activities that one party believes may significantly impact the interests of the other party.
The signing of the Memorandum of Understanding is expected to further establish a solid foundation for cooperation between the competition and consumer protection authorities of both countries and to bolster the overall relationship between Vietnam and South Korea. In particular, it aims to enhance the exchange of information, sharing of experiences, and coordination in the enforcement of competition and consumer protection laws. Effective enforcement of these laws is regarded as fundamental to maintaining a healthy competitive environment for economic entities and is considered a crucial factor in promoting economic growth, trade transactions, and strengthening cooperation and attracting foreign investment between Vietnam and South Korea in the forthcoming period./.
