Delegates at the event (Photo: VNA) Seoul (VNA) – A trade exchange event was held in Seoul, theRepublic of Korea (RoK) on October 24 to seek to increase the presence ofVietnamese products, especially farm produce and consumer goods, in the RoKmarket.
Minister-Counsellor Tran Anh Vu from the Vietnamese Embassy in the RoKand Kim Hyun-myung from the Korea Importers’ Association (KOIMA) highlightedthe importance of the RoK market to Vietnamese goods as well as cooperation opportunitiesbetween the two countries’ business communities.
The Vietnam-RoK cooperative strategic partnership with an array ofcollaboration mechanisms in the economy, including the bilateral free tradeagreement that took effect from December 20, 2015, has been serving as an importanttool to facilitate stronger bilateral trade growth, they agreed.
Meanwhile, Le An Hai, Vice Director of the Asia and African Marketsunder the Ministry of Industry and Trade, noted that two-way trade in the firstnine months of 2017 reached over 45 billion USD, a surge of over 52 percentyear on year, higher than the figure of 43.4 billion USD recorded in 2016.
He stressed the efficiency of measures to support enterprises of bothsides, including the organization of regular trade exchange activities.
During the event, 17 Vietnamese firms introduced their products to localfirms which assessed that Vietnamese products have had improved designs andpackages to suit the RoK market and competitive prices with similar productsfrom the Philippines, China, Indonesia and Thailand.
Trade between Vietnam and the RoK increased 87 times since 1992, whenthey set up diplomatic ties, from 500 million USD to 43.4 billion USD in 2016. Bothsides are working together to raise two-way trade to 70 billion USD in 2020.
The RoK is currently the third largest trade partner of Vietnam after China andthe US. It is the top foreign investor of Vietnam./.
VNA
