Vietnam's Prime Minister Nguyen Tan Dung agreed Wednesday that North Korea should comply with U.N. Security Council resolutions amid heightened tension over Pyongyang's plan to launch a long-range rocket next month.

Dung reached the consensus during summit talks with President Lee Myung-bak, reaffirming the importance of peace, stability and denuclearization of the Korean Peninsula, the presidential office said in a statement.

The meeting took place as Dung was in Seoul for the Nuclear Security Summit that concluded two days of meetings Tuesday.

The two leaders also welcomed that bilateral trade volume between their countries had reached an all-time high of $18.5 billion and pledged to work closely together to boost trade to $20 billion in the near future, the statement said.

They also agreed to start official talks on a free trade agreement as soon as domestic procedures are completed in both nations.

The two sides appreciated progress in their nuclear power cooperation and agreed to expand cooperation in energy and resources, defense industry and infrastructure projects, it said.

Vietnam plans to build 10 power-generating nuclear reactors. Russia and Japan won contracts to build two reactors each and South Korea also hopes to participate in the project.

South Korea is a global atomic energy leader that gets about 40 percent of its electricity from nuclear plants. The country has been trying to export nuclear power plants since Korean firms won a massive contract in late 2009 to build four atomic power plants in the United Arab Emirates. (Yonhap)