[VT]: Meeting With South Korea

[HeadlessSeeker]

Socialist Republic of Vietnam
Private & Encrypted​

Preparations were being made for the arrival and meeting with the South Korean delegation that would arrive on the 30th. The South Koreans would be informed ahead of time to arrive at Noi Bai International Airport. Accommodations were arranged at the Tonkin Palace also known as the State Guest house. A room set aside for the meeting with the best food in Vietnam put on menus. While not much in terms of luxury a convoy of 20 UAZ-452 would be prepared to drive the delegation from the airport to the Tonkin Palace. Minister of Trade Hoàng Trung Hải and 20 Ministry of Industry and Trade personnel would be told that they would be welcoming the delegation upon arrival. The Minister himself at the airport and the rest at the palace. A Platoon of soldiers would be on standby for security. The minister would be at the airport with a Vietnamese state media camera crew, platoon of Soldiers in ceremonial attire, and this would be in 2 hours advance of arrival.

Jay

 

[Jay]

Trade Minister Yoo Myunghee completed her visit to the North. The Korean team was assessing the mineral wealth and resources rumored to be in the North. A number of Korean construction and exploration companies had been brought to begin a feasibility study on the project. Minister Yoon and her team were in the North to inspect the ports in Nampo, Goseong, Wonsan, Sinpo, Rajin-seonbong, and Cheongjin. The ports would need some renovation in some cases, however, Nampo, Wonsan, Cheongjin were well maintained and could easily be advanced to attract further trade development. After their visit to the North, the trade delegation would be introduced to the former Trade leaders of the North, including a number of officials who had worked with Vietnam prior. The Korean Ministries were gradually expanding to incorporate high level officials with technical expertise in certain areas to advance Korea's technical knowledge. The Minister would welcome their insight as they discussed how to best approach a trade relationship with Vietnam and maintaining Korea's healthy trade relationships. The Vietnam Trade Delegation would complete their meetings and be briefed on the mission and outline. In Pyongyang, Hyundai Heavy Industry representatives arrived to join the Trade Delegation to have side discussions about the proposed multi-billion dollar sale of vessels. The delegation spent the remainder of the evening in Pyongyang, with many of the younger ministerial personnel working late into the evening finalizing proposals and ideas, working with KOICA and HHI. Well into the early morning, the staff headed outside to experience the city, it was surreal to them, being in Pyongyang. They would eat buckwheat noodles at a restaurant near the Hotel before returning to the Hotel so sleep. The following day the Trade Minister was escorted from the Hotel to the Airport, the ROK Government Mercedes drove across the city as the large roads were mostly empty except for Korean police cars and government officials moving around meeting different officials.The Trade Minister boarded an ROKAF Dassault Falcon which left Pyongyang International to fly to Noi Bai International Airport.

The ROK Aircraft would fly across the East and South China Sea One to fly to Vietnam. The Dassault Falcon landed in Noi Bai International Airport. The Trade Delegation consisted of 9 civil servants of the Ministry of Trade Industry and Energy, 3 civil servants rom the Ministry of Foreign Affairs, and 2 civil servants of the Ministry of Unification. The security delegation consisted of five members of the Presidential Security Service, while the Hyundai Heavy Industry took a second flight with members of the Trade delegation to arrive in the Vietnamese city. The Dassault Falcon would follow protocols as they landed in the city. The Korean security services would exit the aircraft first followed by the Minister when she was informed by the protocol staffer of the Foreign Ministry to exit. Minister Kim walked down and greeted her Vietnamese Counterpart, Minister Hải. The Minister would "It is a pleasure to meet you Minister Hải" " The P.S.S. agents for their part stood at a distance, not brandishing any weapons or move aggressively as they stood nearby the Minister to react if anything happened. The delegation would be guided to the convoy after the reception was complete as they headed to the Tonkin Palace where they would be remaining.

HeadlessSeeker

 

[HeadlessSeeker]

The Vietnamese Soldiers in their ceremonial attire would line up as ground crews pulled up a air stairway so that the Korean delegation would depart the aircraft. At the end of the lined up soldiers was Minister of Trade Hoàng Trung Hải. A Camera crew set up and recording as the South Korean plane landed, and then as the Korean delegation disembarked the aircraft. "Welcome to Viet Nam. It is a pleasure to welcome you here." he said giving a slight bow before accepting the handshake.

Once the delegation was safely onboard the convoy they would depart the airport where they would then be brought to the Tonkin palace. Everyone would be shown to their rooms and be told the room number with directions of where the meeting would initially take place. They would also be given the location of the dining room. They would be told that their first meeting would take place in an hour. This was to give them some time to settle in after their flight.

Jay

 

[Jay]

Trade Minister Yoo would exit via the air stairway, wearing a lavender suit, with a white blouse, she walked down the stairway before she greeted the Vietnamese Trade Minister. "따뜻한 환영의 장관님 감사합니다. 금일 만날 날을 손꼽아 기다린다." The Minister shook hands with her Vietnamese counterpart while a Korean trade official acting as a translator would translate the Minister's remarks. "The Minister thanks you for the warm welcome, and looks forward to the trade negotiations." After the small welcome ceremony at the Korean trade delegation would be taken to Tonkin Palace. The Delegation would unpack, while the Trade Minister was briefed on the current course and outlooks the Blue House had given. After about thirty of so minutes, the delegation would meet with the Hyundai Team, being updated on the status of the negotiation for the cargo ships. It was a major deal that both Hyundai and the Blue House were hoping to get through in the negotiations. The Trade delegation would begin heading to the meeting place, the staffers preparing notes and documents while the Minister had a call with the Foreign Minister through a secure phone line. The delegation would arrive at the meeting room

HeadlessSeeker

 

[HeadlessSeeker]

The meeting room featured a long table with comfortable seats lining it. A pitcher of water with cups surrounding it at the center. When the Koreans arrived they would find the Vietnamese already inside. Minister of Trade Hoàng Trung Hải greeted them welcoming them here. He had an aid who translated what he said into Korean for ease of communication. However aside from them they had the Minister of Finance Nguyễn Sinh Hùng and Chairman of the Vietnamese Fatherland Front Lê Quang Đạo present along with various other staff members and officials. The koreans would be greeted with handshakes and bows before the Vietnamese would take a seat.

"Thank you all for coming. I have no doubt that this meeting of ours will bear fruit in regards to all of the previous discussed areas. Trade... finances... development... and the acquirement of ships. These are some of the major areas that have been outlined, and these are the areas that we shall make significant progress on. For that, I am sure. Let us start with trade, and as the guests of honor I shall let the Korean delegation begin." the Minister of Trade Hoàng Trung Hải started handing off the reigns to his Korean Counterpart.

Jay

 

[Jay]

The Korean delegation would enter the room, greeting their already present counterparts as they took their seats. The Koreans maintaining a formal diplomatic attitude with their greetings as they greeted and were greeted. With the Vietnamese having their own translator for the conversation to provide simultaneous translations, the Korean translator would focus on providing simultaneous translations of the Vietnamese Minister's remarks to the Trade Minister. The Trade Minister alongside the Director of South East Asia Bureau at the Foreign Minister, the Director of Energy Policy, Hyundai Heavy Industry Officials, and a number of trade staff would take their seats. As the Vietnamese Minister spoke, the Korean translator would translate for the Minister, sitting right behind her as to not obscure her vision or distract the speaker. After the Minister finished, he indicated the invitation to Minister Yoo. "Thank you for the warm reception Minister Hải. The Republic of Korea looks forward to developing a strong relationship with Vietnam over the areas of trade, finance, development, energy, and foreign policy. As Asian countries, our two nations have a strong role to play in bringing about the conditions for free and fair trade, a peaceful environment for ideas to be shared, and a secure region for collective prosperity. I look forward to our discussions today. On the issues of trade, we hope that an agreement can be signed that will be beneficial to both our economies. From our economic analysis, based on your letter and publicly available data, our understanding is Vietnam is export-oriented in terms of its exports. Primarily, with final goods to be consumed as well as crucial mineral fuels. On the other hand, your government has made modernization of the country as center-piece. Our government is supportive of these efforts. We believe our trade exports are both mutually exchangeable. We hope that an agreement on petroleum, clothing, and footwear can be arranged. We believe these two sectors, energy and clothing/footwear are areas that immediate economic prosperity can develop. With the low costs of production for producing clothes, being able to export them would be able to raise the profits of Vietnamese companies. We hope that an arrangement based on quotas is possible on importing clothing/footwear. While petroleum requires investment, they are investments that payoff and Hyundai Heavy Industries has a number of projects developing over offshore technology which we hope can prove beneficial to our mutual interests. On the other hand, your government's plans for modernization and development fit perfectly with Korean exports such as electronics, automobiles, semiconductors. If your government wishes to move into industrialization efforts, I believe trading Tungsten and Molybdenum would be beneficial. We are happy to hear your insights and how best the Vietnamese economy can benefit from exporting to Korea, and where we can assist Vietnam's development with imports of high quality final products and primary goods for Vietnam's industries."

HeadlessSeeker

 

[HeadlessSeeker]

"Indeed, a trade agreement encompassing everything you mentioned must be made. At this time the economy of Vietnam is indeed modernizing and industrializing. For far too long Vietnam has had too much of it's workforce and resources tied so closely to agriculture. To fuel this modernization in Vietnam we would like to accept the proposal that we import electronics, automobiles, semiconductors. Specifically, we want to make sure to import one of these items in particular. Automobiles. While not an exact number only around 15% of households in Vietnam have access to a automobile of some kind. While our efforts in public transport will help, we require that our people have the ability to travel to work and conduct business. We want to have 80% of households in Vietnam to have access to a car over a ten year period. There are approximately 26.87 million households in Vietnam. Is this something the Korean automobile industry can handle?"

"Meanwhile we are looing to strengthen our fuel exports with modernization and expansion. There are a number of oil fields in Vietnam that could be better exploited. I am curious to hear how Hyundai Heavy Industries can help in the offshore department in regards to this so we can boost exports."

"In terms of clothes and footwear I would like to have an example when it comes to the quotas you mentioned? This would certainly be a boost for factories and workshops that produce clothing here, and would give your nation access to those wares."

"With Tungsten and Molybdenum I believe we can import those, as those would truly help in our efforts. But, there is one other thing I was to discuss in terms of development. We have begun to investigate so called renewables and green technologies. Like electric cars, solar panels, wind turbines, and hydroelectric. One thing that we have asked the Americans about is electric cars. I understand that today we have Hyundai Heavy Industries with us, and not the possibly related Hyundai Motor Group. But, do you know of anything upcoming that could blow the American General Motors EV1 out of the water?"

Jay

 

[Jay]

Trade Minister Yoo: "Yes, we hope to continue to monitor Vietnam's economy and as efforts are taken to bring Vietnam back into the global market, we anticipate your country becoming a hub for The Asia-Pacific Community. With regards to automobiles, we would be happy to accommodate this need by providing, based on the number of ships facilitating our agreement, daily to weekly shipments of automobiles. In fact, we would be even willing to support the local market by bringing Korean sales teams to Vietnam to open car dealerships with local workers apart of the program. While we are certain our vehicles will be competing with foreign automobiles, we are happy to expand our foothold in the region through incentivizing our automobile companies to develop their network in the Vietnam. On the item of quotas, primarily the quotas would set the parameters over how many items are imported over the course of a year. We believe this would help bring Vietnamese products into the Korean Market at a stable price without causing a market reaction from a high influx of footwear and clothes. I hope that answered your question. I would like to pass the other questions to Chief Financial Officer Hyunmin Lee."

C.F.O. Lee: "Thank you Your Excellencies, with regards to fuel development. Hyundai Heavy Industries (HHI) has extensive technical experience from cooperation with Aramco in Saudi Arabia as well as developing off-shore petroleum facilities in the United Arab Emirates and Qatar. Our experience is both in engineers and facilities managers by Korean nationals and our products, specifically offshore energy ships and platforms. If Vietnam is offering blocks for development of these petroleum fields, Hyundai would be happy to participate in this process. Alternatively, we can offer our supplemental assistance to your countries energy officials and development teams. As per your query, yes, Hyundai Heavy Industries is apart of the Hyundai Chaebol and this includes Hyundai Motor Group. While I am not currently privy to any ongoing electric vehicles being released soon, however, I am certain given the nature of the market, the development of electric cars will pick up. Thank you"

HeadlessSeeker

 

[HeadlessSeeker]

The Vietnamese team whispered to one another for a moment after hearing what the Trade Minister said. Minister of Trade Hoàng Trung Hải would clear his throat and speak up. "We are willing to allow Korean Sales teams, Korean Car Dealerships, and Korean buisness in regards to automobiles into Vietnam. This is permitted within the Foreign Investment Law 1987. However, local workers must be in the Vietnam General Confederation of Labour and foreign workers must work along side them. Are you willing to do business here even if it means working with one of our labor unions?"

"Regardless, when it comes to imports weekly will work for the best as daily would be overkill. The plan calls for this to occur within 10 years. We do not want to flood a market and have no buyers. To match our needs we will need to import... lets see... 2,687,000 cars per year. Is this achievable? However, with our plans to have 80% of households have access to a car that means we will need to invest in infrastructure to facilitate this. Gas stations and car parks are a must."

He would then look to C.F.O. Lee

"Does your company have a specific model or type of off shore oil rig that you would recommend for our situation? Also, could you explain to me what an energy ship is? But yes, we may be offering development blocks. However, you would be required to follow local regulations. I would also like to know how you would plan to exploit the areas of interest. One thing to note however that you may not be aware of is the fact that some un explored and un exploited oil fields are in contested waters."

Jay

 

[Jay]

Trade Minister Yoo: The Trade Minister discussed with a Foreign Ministry representative and proceeded to respond. "Within the FIL of 1987, my understanding would be that Vietnamese Workers apart of the VGCL would be working alongside Korean workers who would not be apart of the VGCL. If that is accurate, I do not see any issues regarding working with your labor unions. So long our companies and corporations are not unfairly targeted or restricted, the ROK Trade Ministry and Labor Agencies generally has no reason to request an exception for the labor laws of Vietnam or dispute them. While I can not comment on the specific numbers, we believe we can continue to reach the two million mark without any issue, dependent on the scale of our production and of course the global market. Of course, the necessary infrastructure to complement this drive is necessary. As I understand the KOICA is already working on renovations and expansion of road infrastructure in Hanoi and Ho Chi Minh city."

C.F.O. Lee: "At the moment we would like to propose the Na Kika Offshore Platform we have developed which is a permanent semi-submersible platform for extracting under-water petroleum and gas deposits. Additionally, we'd also like to propose the KIZOMBA B FPSO which is a floating Storage/Production ship. This means that the Kizomba B can be deployed to extract petroleum from the wells or the TLP platforms. The Kizomba B can store 2.2 million barrels (350,000 m3) and currently to our knowledge has the largest storage of any vessel in its class as an FPSO. This is in regards to the energy ships, they would mostly be extracting and storing the petroleum and transferring it to tankers. Dependent on the block, we would mostly be looking to produce the equipment for petroleum companies such as ExxonMobile or Korea National Oil Corporation. We would not directly be engaged in the development of the block as our company deals primarily with equipment such as ships, platforms, and limited military R&D...with regards to contested waters, that is an issue we must raise with the Foreign Ministry before making any statements."

HeadlessSeeker

 

[HeadlessSeeker]

To Trade Minister Yoo "You would be correct. There are renovations currently underway. Our government recently finished payment for a public transport contract. This will bring bus transport to not just those two cities, but to all of Vietnam due to the upgrading of our public transport fleet. However, household use of a car will also be necessary. As the current contract targets Bus infrastructure, and some routes it does not include car parks and car related infrastructure as I understand it. What is the current rate of production we can expect from Korea on vehicles? What percentage of our requirement are you able to reach?"

"But yes, you are correct about the nature of that act. Will Korean workers be joining the North Korean General Federation of Trade Unions of Korea with the unification occurring? As I understand North Korea is current in a famine and has been since 1994. Would it be beneficial to use North Korean workers as a way to alleviate their economic hardships?"

To C.F.O. Lee "We are not sure we want to have ExxonMobile working on our oil fields or developing them. While we are trying to improve relations with the Americans we believe based on certain factors such as activities by ExxonMobile would be a detriment to our relationship. This along with the fact that the current President of the United States is Al Gore means that we cannot take the risk of any perceived slights if we want relations improved. We will however work with the Korea National Oil Corporation. Would you be willing to put us in contact with them?"

"Now then, while you are not an expert on the subject, how many of these systems and pieces of equipment would you recommend to say... double our oil extraction? The oil fields we want to increase extraction from are Tê Giác Trắng oilfield, Bạch Hổ oil field, and Đại Hùng oilfield. The Đại Hùng oilfield is in the South China Sea which is 'contested' waters. Are you willing to supply equipment for it's exploitation?"

Jay

 

[Jay]

Trade Minister Yoo: "I would have to discuss this with the automobile industry in Korea. The rate of production is mostly driven by demand and available resources to meet that demand at a profitable and affordable rate. The overall automobile industry has been able to produce at its peak figures 4,555,957 automobiles for export in previous years. The majority of these exports currently go to the United States, Australia, Saudi Arabia, Germany, and the Netherlands. Your current yearly demand would cover 58.9% of that volume of export. It would be appropriate that at the current market conditions, the realistic figure of yearly exports of automobiles for the first year would be between approximately 1,300,000 automobiles and dependent on local sales and profits would increase to reach the 2,687,000 automobiles yearly import mark. This would be close to half of the initial target if I understood correctly. I would believe this to be a fair starting point as well as supplemented by additional trade agreements you make with other countries regarding automobiles. It is important to note that while we can discuss these numbers if there is not a high demand the trade volume in terms of real exports would most likely have the inverse relationship than what I have already said. That being from the initial target, the automobile exports would decline in terms of real stock and asset, while the numbers would still be available, it would not see an increase of volume of real exports. That however, is an area really outside the area of discussion for trade negotiations. We can work towards an initial arrangement for 1.3 million automobiles and subsequent increase based from there. As pertaining to the matters of North Korea, that is an aspect that I am not able to comment on. The Ministry of Employment and Labor can go into depth about these policy matters. There are already two unions on a national level in Korea, The Federation of Korean Trade Unions and the Korean Confederation of Trade Unions. The current population in the south of the country in small numbers have membership in these unions and whether they arrange for an overseas working arrangement is a matter they can decide internally. I can pass your question to the Ministry of Employment and Labor about the labor force, however, the decision of who comes to Vietnam will ultimately be in the hands of the automobile companies based on skills, capabilities, and applicants. We don't micromanage the economy over things like this. Which I am sure if you would like to discuss this further the Ministry would be happy to discuss this over the phone. Particularly to discuss an agreement on remittance and financial transactions between Korea and Vietnam, a double-taxation agreement, and other matters pertaining to our workforces relationship in this area of expanded cooperation."

C.F.O. Lee: "ExxonMobile is one of many corporations with specialization in this industry. While we are also competitors, Shell and a number of Dutch companies have expertise in this area as well is the American Corporations are currently not your desired partners in development of the petroleum industry. I can pass the information of KONC to you as well as carry a message to them after this meeting about developing the oil fields and offshore sites. Petroleum can be extracted in multiple ways each with their own degree of impact on the environment and other costs. The first issue is the actual amount of petroleum, as a finite resource heavy extraction can deplete the natural ecosystem by disrupting it and leaving underground areas 'bubbled', the word in English alludes me. These bubbles require water to be filled to avoid ruptures in the ground and destabilizing the crust of the earth over this portion of the tectonic plates. When exploration and amount of reserves are complete it is then about how much it costs to extract and refine the natural gases and petroleum and then export them. Ultimately this is what makes Saudi Arabia as powerful as it is in the energy sector. Being able to double the production would need more aggressive mining and larger equipment, and can be done. However, in matters pertaining to contested waters, the best our company can do is provide equipment for general use and that your country uses that equipment in the oilfields to develop it. We would have to discuss what is the limit of our ability to install and assist with technical aspects of installing offshore energy equipment."

HeadlessSeeker

 

[HeadlessSeeker]

"Would we be able to priorities affordable models of automobiles for import? While it seems like we will only be able to hit half of our goal it is important that we ensure that what automobiles we get from this are affordable to the general public. The situation here is of course very specific and we will need to tailor this importation to our needs."

"We will see if ExxonMobile is workable based on our interactions with the Gore Presidency. We are merely being cautious here. We want to move forward with a plan that will not overtly negatively impact the ecosystem. That would send a bad message and possibly damage the fishing industry. What safer methods are you aware of that we can employ?"

Jay

 

[Jay]

Trade Minister Yoo: "We can make this as part of our request to the different automobile companies. Ultimately the specific models and cost are determined by a number of factors and are not necessarily under our control and these things will continue to fluctuate. The cost of conducting business in Vietnam is one aspect, production costs and imports are another, regulatory laws in both our countries, etc... all play a role in the cost amongst other factors. Still, we will do what we can. There is as you hint at, no use in all this trade if no one can afford to buy it.

Nonetheless, the market determines these things and the best that we can do is lowering the barriers to trade and the free flow of goods to enter the market. The point regarding the target goals will as I said previously continue to be adaptive to the market situation. As long as the barriers between our countries remain low and demand remains high, and as you said, affordable, then, we will see continual growth in sales to reach the target annual goal. However, the inverse is true. If barriers are high, demand remains low, and as a result prices rise per vehicle, then we will see a decline in sales away from the target goal. This is why I do hope that all these concerns can be addressed in our trade agreement and that we have an open dialogue on these trade matters."

C.F.O. Lee: "We are happy to cooperate on the development of the infrastructure through financing and construction of semi-submersible platforms etc... Operation and extraction is the expertise of KNOC and companies like Shale, Shell, and ExxonMobile to name a few. In all frankness Minister, if your goal is to double your production then the risks are much higher as that is an unsustainable path forward. In the end, the offshore oil deposits are finite resources and being conservational with how much is extracted is the best way to limit damage. However, unavoidable impacts include disruption to the natural environment by sound disruption to animals using sound as navigational tools and those sensitive to sound. Reefs and coral life will be affected. Overtime the drilling can cause shelf destabilization as it extracts liquid from underneath the ocean. The risk of a spill and its impact is a possibility and would have adverse affects on the environment.

There are also human concerns. Having low or laxxed standards can lead to human error causing spills. The spills can cause damage to animals integral organs, causing cancer, and damage if not wipeout nesting and breeding grounds. Proper gear is also important to limit exposure to harmful chemicals and gases released in the process. If your goal is to reduce this impact, there are a number of options. They all however come with limiting production, investment into human capital, and lowering the number of offshore producing sites.

Now, if we want to talk specifics, an aid would hand her a file we would like to offer our Deepwater Frontier Rig based off of the Falcon Double Hull for the development of your oil blocs. Currently we have offered it to Malaysia for use in their offshore petroleum development project. The model given to Malaysia has a max water depth of 10,000 ft and a max drilling depth of 30,000 ft. The rig has the ability to extract 170,000 barrels a day of oil and 42 million standard cubic feet per day of gas. This can be adapted to how much extraction is made per day and can fall within that limit or exceed it through external storage facilities. However, I do not really have much to say on how to be more safer based on the technological constraints. Still, I am sure that Hyundai can be look into developing new technology to be more environmentally friendly. But, it would not be any time soon that this technology would be available for use."

HeadlessSeeker

 

[HeadlessSeeker]

"You seem very insistent on explaining that you will import cars that the average person can not afford as just being the result of factors that are out of your control. Anyways, it is best we roll this conversation into trade talks. Make it a bundled deal as one might say."

"Would this rig be safe enough to avoid spills? Spills are the last thing we want to occur. We want to be as safe as possible with currently existing technology."

Jay

 

[Jay]

C.F.O. Lee "Well, there are a number of methods to avoid spills. Primarily, the most practical steps are human training and storage capacity limits. Spills occur often because of human error, lack of training, and bad technology and infrastructure. Additionally, we would recommend fuel storages to be limited to 75-80% capacity. While this means lower output in the aggregate, it lowers the risk of momentary shifts in the carrying capacity. Whether it is natural disasters, human error, etc...it would both limit the likelihood of a spill as well as the overall impact if the spill occurred. Regular maintenance is important and making sure all minor cracks and leaks are fixed early is key. I do not know at the moment of any industry employed technology that can necessarily be used to prevent oil spills. However, we do have some ongoing R&D into offshore spill cleanup and mitigation. However, nothing that would be available for ten to twenty years from now."

HeadlessSeeker

 

[Jay]

Trade Minister Yoo: "Please look over our current proposal for the trade agreement. I believe it encompasses the items you are more concerned about. Particularly Article 2.2. of Chapter Two and Section F. Please give us your feedback and we can adjust the language or discuss our disagreements." They would all be handed a draft of the agreement and it would be passed around the different staff and delegations.

Korea Vietnam Trade Agreement​

RECOGNIZING the need for trade relations as a means of developing longstanding and strong partnership based on common principles and values of an open market and fair trade;
DESIRING to further develop close economic relationship as part of and in a manner coherent with their overall relations, and convinced that this Agreement will create a new climate for the development of trade and investment between the Parties;
CONVINCED that this Agreement will create an expanded and secure market for goods and services and a stable and predictable environment for investment, thus enhancing the competitiveness of their firms in global markets;
REAFFIRMING their commitment to the Charter of the Global Assembly and the principles of Asian cooperation and development;
REAFFIRMING their commitment to sustainable development and convinced of the contribution of international trade to sustainable development in its economic, social and environmental dimensions, including economic development, poverty reduction, full and productive employment and decent work for all as well as the protection and preservation of the environment and natural resources;
RECOGNIZING the right of the Parties to take measures necessary to achieve legitimate public policy objectives on the basis of the level of protection that they deem appropriate, provided that such measures do not constitute a means of unjustifiable discrimination or a disguised restriction on international trade, as reflected in this Agreement;
RESOLVED to promote transparency as regards all relevant interested parties, including the private sector and civil society organisations;
DESIRING to raise living standards, promote economic growth and stability, create new employment opportunities and improve the general welfare by liberalising and expanding mutual trade and investment;
SEEKING to establish clear and mutually advantageous rules governing their trade and investment and to reduce or eliminate the barriers to mutual trade and investment;
RESOLVED to contribute to the harmonious development and expansion of world trade by removing obstacles to trade through this Agreement and to avoid creating new barriers to trade or investment between their territories that could reduce the benefits of this Agreement;
DESIRING to strengthen the development and enforcement of labour and environmental laws and policies, promote basic workers’ rights and sustainable development and implement this Agreement in a manner consistent with these objectives;

HAVE AGREED AS FOLLOWS:


CHAPTER ONE
OBJECTIVES AND GENERAL DEFINITIONS

Article 1.1
Objectives
1. The Parties hereby establish a free trade area on goods, services, establishment and associated rules in accordance with this Agreement.
2. The objectives of this Agreement Are:

• (a) to liberalize and facilitate trade in goods between the Parties, in conformity with general practices of fair trade;
• (b) to liberalize trade in services and investment between the Parties;
• (c) to promote competition in their economies, particularly as it relates to economic relations between the Parties;
• (d) to adequately and effectively protect intellectual property rights;
• (e) to contribute, by removing barriers to trade and by developing an environment conducive to increased investment flows, to the harmonious development and expansion of world trade;
• (f) to commit, in the recognition that sustainable development is an overarching objective, to the development of international trade in such a way as to contribute to the objective of sustainable development and strive to ensure that this objective is integrated and reflected at every level of the Parties’ trade relationship; and
• (g) to promote foreign direct investment without lowering or reducing environmental, labor or occupational health and safety standards in the application and enforcement of environmental and labor laws of the Parties.

Article 1.2
General definitions

Throughout this Agreement, references to:
The Parties mean, on the one hand, the Republic of Korea (hereinafter referred to as Korea), and on the other hand, Vietnam;
The Agreement means the Trade Agreement for Trade and Cooperation between the Republic of Korea and the Socialist Republic of Vietnam.

CHAPTER TWO
NATIONAL TREATMENT AND MARKET ACCESS FOR GOODS

SECTION A
Common provisions
Article 2.1
Objective
The Parties shall progressively and reciprocally lower barriers in trade over specified goods over a transitional period starting from the entry into force of this Agreement, in accordance with this Agreement.

Article 2.2
Scope and coverage
This Chapter shall specifically to trade in goods between the Parties as follows.

• (a) Final products produced within Korea and/or assembled by companies registered in Korea covering the following products;
  1. Automobile and automobile parts, Semiconductors, and Electronics
• (b) Primary Goods produced by Korea Vietnam and/or extracted and refined by companies registered in Korea covering the following products;
  1. Tungsten and Molybdenum
• (c) Primary Goods and Energy Services provided by Vietnam and/or extracted and shipped by companies registered in Vietnam covering the following products;
  1. Petroleum and Natural Gas
• (d) Final goods and products produced within Vietnam contingent on production within Vietnam covering the following products;
  1. Footwear, and Clothing

Article 2.3
Customs duty
For the purposes of this Chapter, a customs duty includes any duty or charge of any kind imposed on, or in connection with, the importation of a good, including any form of surtax or surcharge imposed on, or in connection with, such importation. It Shall and not include any:
(a) charge equivalent to an internal tax imposed in respect of the like domestic good or in respect of an article from which the imported good has been manufactured or produced in whole or in part;
(b) duty imposed pursuant to a Party’s law consistently with Chapter Three (Trade Remedies);
(c) fee or other charge imposed pursuant to a Party’s law consistently with Article 2.10;

Article 2.4
Classification of goods
The classification of goods in trade between the Parties shall be that set out in each Party’s respective tariff nomenclature interpreted in conformity with the Harmonized System of the International Convention on the Harmonized Commodity Description and Coding System
Elimination of customs duties

Article 2.5
Elimination of customs duties
1. Except As otherwise provided by the Agreement, each Party shall eliminate its customs duties on originating goods of the other Party in accordance with section A article 2.2.
2. As agreed upon by the two parties, Section A, Article 2.2, sub-article d, a quota rate appropriate determined by the Korean Trade Ministry shall be applied. The quota base shall be equivalent with the rate of lowest tariffs applied to most-favored-nation. That duty rate shall apply as regards trade covered by this Agreement if and for as long as the two parties maintain a quota basis for conducting trade under sub-article d of Section A.
3. Five years after the entry into force of this Agreement, on the request of either Party, the Parties shall consult to consider accelerating and broadening the scope of the elimination of customs duties on imports between them and expand Section A, Article 2.2. Scope and Coverage. Following such consultations, on the acceleration or broadening of the scope of the elimination of a customs duty on a good shall supersede any duty rate or staging category determined.

Article 2.6
Standstill
Except as otherwise provided in this Agreement, neither Party may increase any existing customs duty, or adopt any new customs duty, on an originating good of the other Party. This shall not preclude that either Party may raise a customs duty to the minimum level agreed upon by this agreement following a unilateral reduction.

Article 2.7
Administration and implementation of tariff-rate quotas
1. Each Party shall ensure that:

• (a) its procedures for administering its tariff-rate quotas (herein referred to as TRQs) are transparent, made available to the public, timely, non-discriminatory, responsive to market conditions, minimally burdensome to trade, and reflect end-user preferences;
• (b) any person of a Party that fulfils the importing Party’s legal and administrative requirements shall be eligible to apply and to be considered for a TRQ allocation by the Party. Unless the Parties otherwise agree by decision of the Committee on Trade in Goods, any processor, retailer, restaurant, hotel, food service distributor or institution, or any other person is eligible to apply for, and to be considered to receive, a TRQ allocation. Any fees charged for services related to an application for a TRQ allocation shall be limited to the actual cost of the services rendered;
• (c) except as specified in Article 2.5 Clause 3, it does not allocate any portion of a TRQ to a producer group, condition access to a TRQ allocation on the purchase of domestic production, or limit access to a TRQ allocation to processors; and it allocates TRQs in commercially viable shipping quantities and, to the maximum extent possible, in the amounts that importers request.
• (d) each TRQ allocation shall be valid for any item or mixture of items subject to a particular TRQ, regardless of the item’s or mixture’s specification or grade, and shall not be conditioned on the item’s or mixture’s intended end-use or package size.

2. Each Party shall identify the entity responsible for administering its TRQs.
3. Each Party shall make every effort to administer its TRQs in a manner that allows importers to fully utilize TRQ quantities
4. Neither Party may condition application for, or utilization of, TRQ allocations on the re-export of a good.

SECTION C
Non-tariff measures

Article 2.8
National treatment
Each Party shall accord national treatment to goods of the other Party.

Article 2.9
Import and export restrictions
Neither Party may adopt or maintain any prohibition or restriction other than duties, taxes or other charges on the importation of any good of the other Party or on the exportation of sale for export of any good destined for the territory of the other Party.

Article 2.10
Fees and other charges on imports
Each Party shall ensure that all fees and charges of whatever character (other than customs duties and the items that are excluded from the definition of a customs duty under Article 2.3(a), (b) and (d)) imposed on, or in connection with, importation are limited in amount to the approximate cost of services rendered, are not calculated on an ad valorem basis, and do not represent an indirect protection to domestic goods or taxation of imports for fiscal purposes.

Article 2.11
Duties, taxes or other fees and charges on exports
Neither Party may maintain or institute any duties, taxes or other fees and charges imposed on, or in connection with, the exportation of goods to the other Party, or any internal taxes, fees and charges on goods exported to the other Party that are in excess of those imposed on like goods destined for internal sale.

SECTION D
Specific exceptions related to goods
Article 2.12
General exceptions
1. The Parties affirm that their existing rights and obligations under Charter of the Global Assembly and organ agencies decisions, which are incorporated into and made part of this Agreement, shall not be considered a renegation on the terms of this agreement should a party be subject to export/import restrictions.
2. Where exceptional and critical circumstances requiring immediate action make prior information or examination impossible, the Party intending to take the measures may apply forthwith the precautionary measures necessary to deal with the situation and shall inform the other Party immediately thereof.

SECTION F
MOTOR VEHICLES AND PARTS
Article 1
General provisions
Recognizing the importance of motor vehicles and parts for growth, employment and trade for both Party, the Parties confirm their shared objectives and principles, for these products, of:

• (a) ensuring full market access by elimination of tariffs and non-tariff obstacles to bilateral trade pursuant to this Agreement by Vietnam;
• (b) promoting compatibility of regulations based on international standards;
• (c) establizhing competitive market conditions based on principles of openness, non-discrimination and transparency;
• (d) securing the protection of human health, safety and environment; and
• (e) enhancing cooperation to foster continued mutually beneficial development in trade.
• (f) aiming for the deliverance on the target goal of annual imports of automobiles of the Vietnamese Government as signified in the trade negotiations.

Article 2
Regulatory convergence
1. The Parties recognize that the World Forum for Harmonization of Vehicle Regulations (hereinafter referred to as the ‘WP.29’), is the relevant international standard-setting body for the products covered by this Annex.

Article 3
Market access
Vietnam shall allow on its market the products originating or assembled by companies registered in Korea, in accordance with this Agreement:
(ii) Vietnam shall accept any product that complies with the requirements listed in Article 2.5 as complying with the corresponding provisions of the applicable Vietnam technical regulations

CHAPTER THREE
TRADE REMEDIES

SECTION A
Bilateral safeguard measures
Article 3.1
Application of a bilateral safeguard measure
1. If, as a result of the reduction or elimination of customs duty under this Agreement, originating goods of a Party are being imported into the territory of the other Party in such increased quantities, in absolute terms or relative to domestic production, and under such conditions as to cause or threaten to cause serious injury to a domestic industry producing like or directly competitive goods, the importing Party may adopt measures to safeguard the respective industry/good.
2. The importing Party may take a bilateral safeguard measure which:
(a) suspends further reduction of the rate of customs duty on the good concerned provided for under this Agreement; or
(b) increases the rate of customs duty on the good to a level which does not exceed the lesser of:

• (i) the MFN applied rate of customs duty on the good in effect at the time the measure is taken;

Article 3.2
Conditions and limitations
1. A Party shall notify the other Party in writing of the initiation of an investigation and consult with the other Party as far in advance of applying a bilateral safeguard measure as practicable, with a view to reviewing the information arising from the investigation and exchanging views on the measure.
2. A Party shall apply bilateral safeguard measures only following an investigation by its competent authorities.
3. Each Party shall ensure that its competent authorities complete any such investigation within one year of its date of initiation.
4. Neither party may apply a bilateral safeguard measure:

• (a) except to the extent, and for such time, as may be necessary to prevent or remedy serious injury and to facilitate adjustment;
• (b) for a period exceeding two years, except that the period may be extended by up to two years if the competent authorities of the importing Party determine, in conformity with the procedures specified in this Article, that the measure continues to be necessary to prevent or remedy serious injury and to facilitate adjustment and that there is evidence that the industry is adjusting, provided that the total period of application of a safeguard measure, including the period of initial application and any extension thereof, shall not exceed four years; or
• (c) beyond the expiration of the transition period, except with the consent of the other Party.

Article 3.3
Provisional measures
In critical circumstances where delay would cause damage that would be difficult to repair, a Party may apply a bilateral safeguard measure on a provisional basis pursuant to a preliminary determination that there is clear evidence that imports of an originating good from the other Party have increased as the result of the reduction or elimination of a customs duty under this Agreement, and such imports cause serious injury, or threat thereof, to the domestic industry. The duration of any provisional measure shall not exceed 200 days. The Party shall promptly refund any tariff increases if the investigation does not result in a finding that the requirements of Article 3.1 are met.

Article 3.4
Compensation
1. A Party applying a bilateral safeguard measure shall consult with the other Party in order to mutually agree on appropriate trade liberalizing compensation in the form of concessions having substantially equivalent trade effects or equivalent to the value of the additional duties expected to result from the safeguard measure. The Party shall provide an opportunity for such consultations no later than 30 days after the application of the bilateral safeguard measure.
2. If the consultations do not result in an agreement within 90 days after the consultations begin, the Party whose goods are subject to the safeguard measure may suspend the application of substantially equivalent concessions to the Party applying the safeguard measure.
3. The right of suspension referred to Paragraph Shall not be exercised for the first 24 months during which a bilateral safeguard measure is in effect, provided that the safeguard measure conforms to the provisions of this Agreement.

SECTION D
Anti-dumping and countervailing duties

Article 3.5
General provisions
1. The Parties agree that anti-dumping and countervailing duties should be used in full compliance with the relevant international requirements and should be based on a fair and transparent system as regards proceedings affecting goods originating in the other Party. For this purpose the Parties shall ensure, immediately after any imposition of provisional measures and in any case before the final determination, full and meaningful disclosure of all essential facts and considerations which form the basis for the decision to apply measures without prejudice. Disclosures shall be made in writing, and allow interested parties sufficient time to make their comments.
2. In order to ensure the maximum efficiency in handling anti-dumping or countervailing duty investigations, and in particular considering the adequate right of defence, the use of English shall be accepted by the Parties for documents filed in anti-dumping or countervailing duty investigations. Nothing in this paragraph shall prevent Korea or Vietnam from requesting a clarification written in Korean or Vietnamese if:
(a) the meaning of the documents filed is not deemed reasonably clear by the Parties’ investigating authorities for the purposes of the anti-dumping or countervailing duty investigation; and
(b) the request is strictly limited to the part which is not reasonably clear for the purposes of the anti-dumping or countervailing duty investigation.
3. Provided that it does not unnecessarily delay the conduct of the investigation, interested parties shall be granted the opportunity to be heard in order to express their views during the anti-dumping or countervailing duty investigations.

Article 3.6
Notification
1. After receipt by a Party’s competent authorities of a properly documented anti-dumping application with respect to imports from the other Party, and no later than 15 days before initiating an investigation, the Party shall provide written notification to the other Party of its receipt of the application.
2. After receipt by a Party’s competent authorities of a properly documented countervailing duty application with respect to imports from the other Party, and before initiating an investigation, the Party shall provide written notification to the other Party of its receipt of the application and afford the other Party a meeting to consult with its competent authorities regarding the application.

Article 3.7
Consideration of public interests
The Parties shall endeavor to consider the public interests before imposing an anti-dumping or countervailing duty.

Article 3.8
Lesser duty rule
Should a Party decide to impose an anti-dumping or countervailing duty, the amount of such duty shall not exceed the margin of dumping or countervailable subsidies, and it should be less than the margin if such lesser duty would be adequate to remove the injury to the domestic industry.

Article 3.9
Dispute settlement
Neither Party may have recourse to dispute settlement for any matter arising under this Section.

CHAPTER FOUR
TECHNICAL BARRIERS TO TRADE

Article 4.1
Affirmation of the principles of technical Barriers to Trade
The Parties affirm their existing rights and obligations with respect to each other under the principles on reducing technical barriers to trade which are incorporated into and made part of this Agreement.

Article 4.2
Marking and labelling
1. The Parties note that a technical regulation may include or deal exclusively with marking or labelling requirements, and agree that where their technical regulations contain mandatory marking or labelling, they will observe that technical regulations should not be prepared with a view to, or with the effect of, creating unnecessary obstacles to international trade, and should not be more trade restrictive than necessary to fulfil a legitimate objective.
2. In Particular,theParties agree that were Party requires mandatory marking or labelling of products:
(a) the Party shall endeavor to minimize its requirements for marking or labelling other than marking or labelling relevant to consumers or users of the product. Where labelling for other purposes, for example, for fiscal purposes is required, such a requirement shall be formulated in a manner that is not more trade restrictive than necessary to fulfil a legitimate objective;
(b) the Party may specify the form of labels or markings, but shall not require any prior approval, registration or certification in this regard. This provision is without prejudice to the right of the Party to require prior approval of the specific information to be provided on the label or marking in the light of the relevant domestic regulation;
(c) where the Party requires the use of a unique identification number by economic operators, the Party shall issue such number to the economic operators of the other Party without undue delay and on a non-discriminatory basis;
(d) the Party shall remain free to require that the information on the marks or labels be in a specified language. The simultaneous use of other languages shall not be prohibited, provided that, either the information provided in the other languages shall be identical to that provided in the specified language, or that the information provided in the additional language shall not constitute a deceptive statement regarding the product;

Article 4.3
Market access
1. With respect to market access through the Cross-border supply of services, each Party shall accord to services and service suppliers of the other Party treatment no less favourable than that provided for under the terms, limitations and conditions agreed and specified in the specific commitments made by the Parties.
2. In sectors where market access commitments are undertaken, the measures which a Party shall not adopt or maintain either on the basis of a regional subdivision or on the basis of its entire territory,are defined as:

• (a) limitations on the number of service suppliers whether in the form of numerical quotas, monopolies, exclusive service suppliers or the requirement of an economic needs test (9);
• (b) limitations on the total value of service transactions or assets in the form of numerical quotas or the requirement of an economic needs test; and
• (c) limitations on the total number of service operations or on the total quantity of service output expressed in the terms of designated numerical units in the form of quotas or the requirement of an economic needs test (10).

CHAPTER FIVE
Article 5.1
Rules of interpretation
Any arbitration panel shall interpret the provisions referred to in Article 14.2 in accordance with customary rules of interpretation of public international law, including those codified in the Vienna Convention on the Law of Treaties. Where an obligation under this Agreement is identical to an obligation under the WTO Agreement, the arbitration panel shall adopt an interpretation which is consistent with any relevant interpretation established in rulings of the WTO Dispute Settlement Body (hereinafter referred to as the ‘DSB’). The rulings of the arbitration panel cannot add to or diminish the rights and obligations provided for in the provisions referred to in Article 14.2.

Article 5.2
Arbitration panel decisions and rulings
1. Thearbitrationpanelshallmakeever Effort To Take Any decision by consensus. Where, nevertheless, a decision cannot be arrived at by consensus, the matter at issue shall be decided by majority vote. In no case shall dissenting opinions of arbitrators be published.
2. Anyrulingofthearbitrationpanelshall Binding The Parties and shall not create any rights or obligations for natural or legal persons. The ruling shall set out the findings of fact, the applicability of the relevant provisions of this Agreement and the basic rationale behind any findings and conclusions that it makes. The Trade Committee shall make the arbitration panel rulings publicly available in its entirety unless it decides not to do so.

SECTION D
General provisions

Article 5.3
List of arbitrators
1. The Trade Committee shall, no later than six months after the entry into force of this Agreement, establish a list of 15 individuals who are willing and able to serve as arbitrators. Each Party shall propose five individuals to serve as arbitrators. The Parties shall also select five individuals who are not nationals of either Party and shall act as chairperson to the arbitration panel. The Trade Committee will ensure that the list is always maintained at this level.
Security exceptions
Nothing in this Agreement shall be construed:

• (a) to require any Party to furnish any information, the disclosure of which it considers contrary to its essential security interests;
• (b) to prevent any Party from taking any action which it considers necessary for the protection of its essential security interests:
  • (i) connected with the production of or trade in arms, munitions or war material or relating to economic activities carried out directly or indirectly for the purpose of provisioning a military establishment;
  • (ii) relating to fissionable and fusionable materials or the materials from which they are derived; or
  • (iii) taken in time of war or other emergency in international relations; or
• (c) to prevent any Party from taking any action in order to carry out its international obligations for the purpose of maintaining international peace and security.

Article 5.4
Entry into force

1. This Agreement shall be approved by the Parties in accordance with their own procedures.
2. This Agreement shall enter into force 60 days after the date the Parties exchange written notifications certifying that they have completed their respective applicable legal requirements and procedures or on such other date as the Parties may agree.
4. Notifications shall be sent to the Ministry of Foreign Affairs and Trade of the both parties, or its successor.
2. Either Party immediately take appropriate measures in accordance with international law in case of denunciation of this Agreement not sanctioned by the general rules of international law.

Article 5.5
Relation with other agreements
1. The present Agreement shall be an integral part of the overall bilateral relations.
2. The Parties agree that nothing this Agreement requires them to act in a manner inconsistent with their obligations under the Global Assembly.

Article 5.6
Territorial application
1. This Agreement shall be provisionally applied from the first day of the month following the date on which Korea and Vietnam have notified each other of the completion of their respective relevant procedures.
2. In the event that certain provisions of this Agreement cannot be provisionally applied, the Party which cannot undertake such a provisional application shall notify the other Party of the provisions which cannot be provisionally applied. Provided the other Party has completed the necessary procedures and does not object to provisional application within 10 days of the notification that certain provisions cannot be provisionally applied, the provisions of this Agreement which have not been notified shall be provisionally applied the first day of the month following the notification.
4. A Party may terminate a provisional application by written notice to the other Party. Such termination shall take effect on the first day of the month following notification.
5. Where this Agreement, or certain provisions thereof, is provisionally applied, the term ‘entry into force of this Agreement’ shall be understood to mean the date of provisional application.

Article 5.7
Duration
1. This Agreement shall be valid Indefinitely.
2. Either Party may notify in writing the other Party of its intention to denounce this Agreement.
3. The denunciation will take effect nine months after the notification.

Article 5.8
Fulfilment of obligations
1. The Parties shall take any general or specific measures required to fulfil their obligations under this Agreement. They shall see to it that the objectives set out in this Agreement are attained.
2. The Agreement shall apply to the territories in which are recognized as part of Vietnam by the Global Assembly, on the one hand, and to the territories of Korea which are recognized by the Global Assembly on the other hand.
3. These provisions concerning the tariff treatment of goods, this Agreement shall also apply to those areas of the respective parties' customs territory.

Article 5.8
Authentic texts
This Agreement is drawn up in duplicate in the Korean and Vietnamese languages being equally authentic.

 

[HeadlessSeeker]

"Could you inform me of these spill clean up and management technologies you are looking into? Also, in a worst case scenario, say on the level of a Gulf War oil spill in terms of sheer scope would these technologies you are developing be able to help? I know the Gulf War oil spill was intential, but I am sure there is a scenario where such a spill can happen accidently to yes?"

Minister of Trade Hoàng Trung Hải would spend a long time reading the provided trade agreement before passing it around the Vietnamese team ."I think this agreement is agreeable. It will need to be voted on by the national assembly to be binding however. Is that alright with you? Also, in your opinion what are the center pieces and best points of this agreement? That way I might better convince my fellows to vote yes on it."

Jay

 

[Jay]

C.F.O. Lee: "Well, a number of British companies and researchers have looked into the possibilities of using Clay Sponges, Magnetic Soap, and a smart substance that can absorb the oil. However, I must be frank in saying that if a major oil spill occurs, the clean up costs would be high and the damage in the short and longterm very impactful. High regulatory practices are crucial to ensure such an incident on the scale of the Gulf war spills would be avoided. However, the technology is still theoretical in some aspects. Mostly of using a large enough clay-based oil absorbing sponge to cover large portions of area. The Soap would be based off an iron rich salty soap that would react to the properties of petroleum once in water. Oil would tise to the surface of the water and be collected.

A close friend of mine was telling me of research at the University of Michigan using a filter that would strain oil from water with a special material coating that attracts water and not oil. With a skimmer, it would be possible to separate the mixtures and then bring the oil to be refined or cleaned for use again. On a small scale, they say they have made a little bit of practice. We are currently researching with Seoul National University a polymer based material that can soak up oil and then would be shipped to a refinery for recovery. It would be a major break through if successful."

Trade Minister Yoo: "If I were to be pitching the agreement. I would highlight that it achieves the basic aims of your government. Trade as a means of development. It primarily in your interests achieves through Section F a stable and increasing import of automobiles for commercial use in the country and creates incentives for companies to remain and have their assembly plants in Vietnam.

It would help boost foreign investment into the country as a means of entering the markets of other Asian countries. As part of a minor step into Vietnam entering further trade agreements with former ASEAN members, East Asian countries, etc...

It would eliminates customs duties and creates favorable terms of trade. In terms of your population, if the your country continues to specialize in footwear and clothes, it is in the long-term beneficial to small and big business alike in creating an environment for financial success."

HeadlessSeeker

 

[HeadlessSeeker]

"Well, if this is all still in research and development what sort of funding might they need? I believe Vietnam should be in the business of funding such inventions if they help everyone as a whole. Especially if it could help us in a hypothetical worse case scenario like I mentioned before."

"Thank you for giving me how you would pitch it. I will make sure to note those. I think we have made a great deal of progress with just this meeting alone. I can have this agreement put before the National Assembly within a week and have a vote cast the very next. Hopefully they also see the benefits of this."

"Was there anything else we were to discuss? I believe there was..."

Jay