FTA boosts RoK exports to Vietnam
Hanoi (VNA) – The Republic of Korea’s exports to Vietnam have increased sharply
this year thanks to the enforcement of a free trade agreement between the two
countries which was ratified late last year.
According to a report by the Korea Trade-Investment Promotion Agency (KOTRA),
the RoK’s exports to Vietnam in the first 10 months of 2016 rose 11.8 percent
year-on-year.
Especially, the
RoK’s consumer goods exports surged 14.2 percent in the same period with the shipment
of washing machines soaring by 102.1 percent, as a 5-percent tariff was removed
under the FTA.
KOTRA cited a
recent survey showing that 42 percent of 60 questioned Korean exporters said
that their exports to Vietnam increased after the Vietnam-RoK FTA took effect
and 63 percent expected that the deal will help them expand business activities
in 2017.-VNA