RoK to export chilli powder to VN

Monday, Aug 10, 2020 17:23

Pears imported from the Republic of Korea on shelves at Lotte Mart. The Republic of Korea will export chilli powder to Viet Nam. — Photo

The Republic of Korea (RoK) said on Monday that the country had completed negotiations to export chilli powder to Viet Nam in the effort to increase exports of agricultural products amid the COVID-19 pandemic.

The negotiations started in 2008 when the RoK’s exports of chilli powder mostly went to the Japanese market.

Statistics of the RoK Ministry of Agriculture, Foods and Rural Affairs showed that the country exported chilli powder worth US$91.5 million in 2019, 99.7 per cent of the figure was to Japan. Other markets were Taiwan, Hong Kong, Singapore and Russia.

According to the General Statistics Office, Viet Nam was the second largest export market of RoK in 2019 with a revenue of US$46.93 billion. The RoK was the fourth largest export market of Viet Nam with a revenue of $19.72 billion.

Viet Nam mainly imported electronic products and components, machinery and fabric from Rok and exported phones and components, garment products, wood and wood products and seafood products to RoK.

Regarding agricultural products, Viet Nam imported $16 million worth of pears from Rok and $6.6 million worth of strawberries last year.

The two-way trade between RoK and Viet Nam rose from $36.5 billion in 2015 to more than $66 billion last year. — VNS

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