Bilateral trade between Vietnam andRepublic of Korea (RoK0 could top 10 billion USD this year, Ju-TaeLee, chairman of the Korea Importers Association (KOIMA) told a businessmatching event in HCM City on May 18.
The event was attended by a delegation of 20 leading RoK companieswhich is visiting Vietnam to seek business opportunities. Theyoperate in construction materials and machinery, telecom, electronics,agriculture, and other sectors.
Since establishing diplomatic ties in 1992, the two countries havedeveloped cooperation in many fields like trade, investment, culture andeducation, Ju-Tae said.
After Vietnam joined the World Trade Organisation and the FreeTrade Agreement between ASEAN and the RoK came into effect in 2007, thetwo countries posted rises in bilateral trade of over 40 percent in2007, 2008 and 2009, from 7.2 billion USD in 2008 to 9.5 billion USDlast year, he said.
Both governments target bilateral trade turnover of 20 billion USD in2015, he added. Kim Sang Yoon, Korean Consul General in HCM City ,said with more than 2,495 projects worth a total registered capital of22.4 billion USD, RoK is Vietnam 's second largest foreign investor.
There are more than 1,400 Korean enterprises operating in HCM Cityand neighbouring provinces, employing more than 250,000 locallabourers, he said.
The event will be a bridge for businesses from both countries to meet,and find partners to boost trade and investment cooperation, he said.
Ju-Tae said the two countries are currently discussing the signing of aFree Trade Agreement, hopefully this year. Bilateral trade then isexpected to increase strongly, he said.
Bui Thi Thanh An, a representative of the Vietnam Trade PromotionAgency in HCM City , said RoK is an important trade and investmentpartner of Vietnam .
Vietnam exports crude oil, processed seafood, coffee, rubber,garments, electronic components, furniture, footwear, steel and coal tothe RoK.
It imports garments and textiles, machinery and equipment, automobile,petrol products, and others./.
The event was attended by a delegation of 20 leading RoK companieswhich is visiting Vietnam to seek business opportunities. Theyoperate in construction materials and machinery, telecom, electronics,agriculture, and other sectors.
Since establishing diplomatic ties in 1992, the two countries havedeveloped cooperation in many fields like trade, investment, culture andeducation, Ju-Tae said.
After Vietnam joined the World Trade Organisation and the FreeTrade Agreement between ASEAN and the RoK came into effect in 2007, thetwo countries posted rises in bilateral trade of over 40 percent in2007, 2008 and 2009, from 7.2 billion USD in 2008 to 9.5 billion USDlast year, he said.
Both governments target bilateral trade turnover of 20 billion USD in2015, he added. Kim Sang Yoon, Korean Consul General in HCM City ,said with more than 2,495 projects worth a total registered capital of22.4 billion USD, RoK is Vietnam 's second largest foreign investor.
There are more than 1,400 Korean enterprises operating in HCM Cityand neighbouring provinces, employing more than 250,000 locallabourers, he said.
The event will be a bridge for businesses from both countries to meet,and find partners to boost trade and investment cooperation, he said.
Ju-Tae said the two countries are currently discussing the signing of aFree Trade Agreement, hopefully this year. Bilateral trade then isexpected to increase strongly, he said.
Bui Thi Thanh An, a representative of the Vietnam Trade PromotionAgency in HCM City , said RoK is an important trade and investmentpartner of Vietnam .
Vietnam exports crude oil, processed seafood, coffee, rubber,garments, electronic components, furniture, footwear, steel and coal tothe RoK.
It imports garments and textiles, machinery and equipment, automobile,petrol products, and others./.
