Producing mobile phones at the RoK's Samsung Electronics Vietnam Thai Nguyen Co. Ltd (Photo: VNA)

Hanoi (VNA) – A show opened in Hanoi on December 2 to energise business activities between Vietnam and the Republic of Korea (RoK) amid the countries’ free trade agreement that was recently ratified by the RoK National Assembly.

About 40 major RoK businesses and 400 others from Vietnam are taking part in the two-day Korea Vietnam Show.

The RoK firms are showcasing cosmetics, food, beverages, apparel, consumer goods, medicine, medical equipment, electronic products and industrial machinery. Their Vietnamese counterparts are also displaying products while seeking importers of agricultural and aquatic goods and garments into the RoK.

Director of the Korea Business Centre in Hanoi and the show’s organiser Lee Kyu Seon said the Vietnam – RoK Free Trade Agreement has opened up numerous opportunities for cooperation between the countries’ enterprises.

RoK companies highly value and believe in the Vietnamese market’s potential, he noted, adding that his centre has held seven similar shows and three large-scale exhibitions in the Vietnamese capital city so far this year.

The trade deal was signed by the two Governments in May this year and ratified by the RoK National Assembly on November 30.

Accordingly, Vietnam will remove import tariffs on 89.9 percent of goods hailing from the RoK within 15 years of the pact’s enforcement. Meanwhile, the RoK will eliminate import tariffs on 95.4 percent of Vietnamese products.-VNA