A number of entrepreneurs from the Republic of Korea (RoK) said they hope to link up with businesses in Vietnam to boost the export of agricultural and food products to the RoK.
Leading food importers from the RoK attended a workshop on facilitating access to the RoK’s food market for Vietnamese firms in Ho Chi Minh City on October 29.
During the first ten months of 2014, bilateral trade reached 23.3 billion USD. However, agricultural and food products only accounted for 10 percent of Vietnam’s total exports to the RoK, even though the country has a high demand for these products, the workshop heard.
RoK Consul General in HCM City Oh Jae Hack said Vietnam is a leading exporter of rice, fruit, vegetables, and seafood, yet its export value remains modest since there is no integrated supply chain connecting all steps, from production to distribution.
To help the Southeast Asian country increase the added value of its products and make inroads into the RoK’s food market, the two countries need to boost their trade relations and connect their business circles.
Meanwhile, Bui Thanh An, deputy head of the Ministry of Industry and Trade’s Trade Promotion Agency, said Vietnamese firms need to increase their capacity to explore the RoK’s market and meet quality standards.
She also urged Vietnamese and RoK companies prepare for the implementation of the bilateral free trade agreement, which will be signed by the end of 2014, creating momentum and optimal conditions for trade and investment.
The workshop was jointly organised by the ASEAN-Korea Centre and the Trade Promotion Agency.-VNA
Leading food importers from the RoK attended a workshop on facilitating access to the RoK’s food market for Vietnamese firms in Ho Chi Minh City on October 29.
During the first ten months of 2014, bilateral trade reached 23.3 billion USD. However, agricultural and food products only accounted for 10 percent of Vietnam’s total exports to the RoK, even though the country has a high demand for these products, the workshop heard.
RoK Consul General in HCM City Oh Jae Hack said Vietnam is a leading exporter of rice, fruit, vegetables, and seafood, yet its export value remains modest since there is no integrated supply chain connecting all steps, from production to distribution.
To help the Southeast Asian country increase the added value of its products and make inroads into the RoK’s food market, the two countries need to boost their trade relations and connect their business circles.
Meanwhile, Bui Thanh An, deputy head of the Ministry of Industry and Trade’s Trade Promotion Agency, said Vietnamese firms need to increase their capacity to explore the RoK’s market and meet quality standards.
She also urged Vietnamese and RoK companies prepare for the implementation of the bilateral free trade agreement, which will be signed by the end of 2014, creating momentum and optimal conditions for trade and investment.
The workshop was jointly organised by the ASEAN-Korea Centre and the Trade Promotion Agency.-VNA
