RoK Ambassador in Vietnam Park Suk-hwan has urged businesses of both countries to take advantage of preferences from the ASEAN-Korea Free Trade Agreement (AKFTA).
He stressed the important role of AKFTA in expanding trade and economic cooperation between Vietnam and the Republic of Korea (RoK) at a workshop on improvement of the effective use of the agreement for goods from ASEAN countries and Vietnam in Hanoi on October 4.
Bilateral trade and economic cooperation have grown rapidly and become a fine example for the world, the diplomat said.
Trade between Vietnam and the RoK reached 10 billion USD in 2009, an increase of 20 times against 1992 – when the two countries established diplomatic ties – and is expected to reach 20 billion USD by 2015.
Deputy Minister of Industry and Trade Nguyen Thanh Bien said that implementation of AKFTA had contributed to increased Vietnam exports.
In 2009, Vietnam earned 1.66 billion USD from export of goods given preferences from the regional agreement, accounting for 80 percent of the country’s total exports to the RoK.
In the first six months of this years, thanks to certificates of preferential origin, businesses shipped goods worth 842 million USD, accounting for almost 65 percent of Vietnam ’s exports to the RoK.
Deputy Minister Bien said the workshop offered an opportunity for experts and policy makers to present information about preferences and the agreement’s implementation to Vietnamese firms.
However, the Ministry warned that businesses needed to actively study and inquire into markets and preferences in order to tap the preferences in the agreement and strengthen ASEAN links./.
He stressed the important role of AKFTA in expanding trade and economic cooperation between Vietnam and the Republic of Korea (RoK) at a workshop on improvement of the effective use of the agreement for goods from ASEAN countries and Vietnam in Hanoi on October 4.
Bilateral trade and economic cooperation have grown rapidly and become a fine example for the world, the diplomat said.
Trade between Vietnam and the RoK reached 10 billion USD in 2009, an increase of 20 times against 1992 – when the two countries established diplomatic ties – and is expected to reach 20 billion USD by 2015.
Deputy Minister of Industry and Trade Nguyen Thanh Bien said that implementation of AKFTA had contributed to increased Vietnam exports.
In 2009, Vietnam earned 1.66 billion USD from export of goods given preferences from the regional agreement, accounting for 80 percent of the country’s total exports to the RoK.
In the first six months of this years, thanks to certificates of preferential origin, businesses shipped goods worth 842 million USD, accounting for almost 65 percent of Vietnam ’s exports to the RoK.
Deputy Minister Bien said the workshop offered an opportunity for experts and policy makers to present information about preferences and the agreement’s implementation to Vietnamese firms.
However, the Ministry warned that businesses needed to actively study and inquire into markets and preferences in order to tap the preferences in the agreement and strengthen ASEAN links./.
