Vietnamese goods favoured in RoK (Photo VNA) HCM City (VNA) – Made-in-Vietnamgoods are more competitive than those of other Asian countries in the Republicof Korea (RoK) thanks to the effective implementation of the Vietnam-RoK andASEAN-RoK free trade agreements, experts said at a workshop in Ho Chi Minh Cityon November 2.
Apart from making use of preferential tariffs,Vietnamese businesses are aware of the significance of studying the market andinvesting in designs to create high-quality products.
Notably, Vietnam’s southern economic hub of HoChi Minh City has many opportunities to expand its presence in the RoK.
According to the municipal Department ofIndustry and Trade, the RoK is the fifth biggest importer of the city, makingup nearly five percent of its total export turnover.
HCM Citymainly exports garment-textile, footwear, electronic products and spare parts,computers, wood and timber products.
In the first ten months of 2017, the cityexported 29.15 billion USD worth of goods through the country’s border gates, ayear-on-year rise of 13.3 percent.
Deputy Director of the department Nguyen HuynhTrang said Vietnam has signed 12 free trade agreements, including 10 effectiveones.
To promote exports to the RoK, Vietnamese firmsshould address shortcomings in packaging and papers declaration and map out aproper strategy to increase competitiveness in the market, she suggested.-VNA
VNA
