Two retail and distribution groups from South Korea - K-holdings and Coupang - will co-operate with Vietnamese partners during their trip to Ha Noi on March 22.

The two groups are keen on importing many kinds of products from Viet Nam, including farm produce such as coffee, cashew nut and pepper, canned food, frozen seafood besides dried food such as dried beef, chicken and cuttlefish as well as some other processed food, reports e-newspaper baodautu.vn.

The trip is part of the activities within the framework of the Viet Nam-South Korea business exchange programme organised by the Trade Promotion Agency’s Export Support Centre and the Vietnamese Trade Office in South Korea with the aim of boosting exports to the market.

Twenty-five years after establishing diplomatic ties, Viet Nam and South Korea have become important strategic and economic partners.

Viet Nam’s exports to the South Korean market experienced a year-on-year rise of 31 per cent to US$15 billion last year. Bilateral trade is expected to reach $100 billion by 2020.

On the other hand, statistics of the Korea International Trade Association show that Korea exported $48 billion worth of goods to Viet Nam last year, accounting for 8 per cent of the country’s total export value. — VNS