At the event (Photo: VNA) Hanoi (VNA) – A workshop was heldin Hanoi on April 24 to seek ways to bolster exports by Vietnamese businessesto the Republic of Korea (RoK).
It was organised by the Vietnam Chamber of Commerceand Industry (VCCI), with the participation of about 80 domestic firms innumerous sectors.
At the event, VCCI Vice Chairman HoangQuang Phong said the governments and businesses of Vietnam and the RoK highly valuepotential and consumption in both nations.
He stressed that Vietnamese firms expect toexpand export markets in the coming time as they boast strength in various itemssuch as garment-textile, aquatic products, footwear, and vegetable and fruits,among others.
In addition, Vietnam and the RoK share manysimilarities and mutual understanding of culture, habit and conduct, whichserve as a favourable condition to foster bilateral trade. Along with boostingexports to the RoK, Vietnamese firms wish to lure more investment from the NortheastAsian country, Phong added.
Kim Sung-hee, customs expert from the Korean Trade and Investment Promotion Agency, saidthat market expansion and application of preferential treatment for Vietnam’sexports will offer chances for Vietnamese business to broaden their presence inthe RoK market.
Some advantages tofacilitate export-import and trade include the RoK’s decline in import tariffsand removal of taxes, she noted.
In return,Vietnamese businesses should enquire about regulations and taste of Koreanconsumers to avoid violations in legal issues and food safety standards.
They are advised tostudy tariffs and roadmap of tax reduction for their products, along withrequirements of labelling and packaging to meet demands of RoK consumers.
To date, the RoKis the leading foreign investor of Vietnam, with a total registered capital ofmore than 62 billion USD, as well as the second largest trade partner astwo-way trade hit 65.7 billion USD in 2018.
Vietnam currentlyimports industrial machines, production lines, engines and materials from theRoK. -VNA
At the event, VCCI Vice Chairman HoangQuang Phong said the governments and businesses of Vietnam and the RoK highly valuepotential and consumption in both nations.
He stressed that Vietnamese firms expect toexpand export markets in the coming time as they boast strength in various itemssuch as garment-textile, aquatic products, footwear, and vegetable and fruits,among others.
In addition, Vietnam and the RoK share manysimilarities and mutual understanding of culture, habit and conduct, whichserve as a favourable condition to foster bilateral trade. Along with boostingexports to the RoK, Vietnamese firms wish to lure more investment from the NortheastAsian country, Phong added.
Kim Sung-hee, customs expert from the Korean Trade and Investment Promotion Agency, saidthat market expansion and application of preferential treatment for Vietnam’sexports will offer chances for Vietnamese business to broaden their presence inthe RoK market.
Some advantages tofacilitate export-import and trade include the RoK’s decline in import tariffsand removal of taxes, she noted.
In return,Vietnamese businesses should enquire about regulations and taste of Koreanconsumers to avoid violations in legal issues and food safety standards.
They are advised tostudy tariffs and roadmap of tax reduction for their products, along withrequirements of labelling and packaging to meet demands of RoK consumers.
To date, the RoKis the leading foreign investor of Vietnam, with a total registered capital ofmore than 62 billion USD, as well as the second largest trade partner astwo-way trade hit 65.7 billion USD in 2018.
Vietnam currentlyimports industrial machines, production lines, engines and materials from theRoK. -VNA
VNA
