Shrimp exports to South Korea are likely to increase by 5 per cent this year due to steady demand, high export prices and tariff incentives under a bilateral free trade deal.
The Viet Nam-South Korea Free Trade Agreement, which came into effect in December 2015, has given a big boost to economic ties between the two countries, a seminar heard in HCM City on Thursday (September 7).
How to crack the South Korean market and its rules related to product origin were on the agenda at a conference titled "Viet Nam – South Korea Free Trade Agreement: prospects and challenges" that was held in HCM City yesterday.
These developments will strengthen the base upon which Viet Nam''s
economy can be restructured for sustainable development, said Hong Sun,
Secretary General of Korcham in Viet Nam (the Korea Chamber of Commerce
and Industry), in an interview with the Vietnam News Agency.
The Viet Nam-South Korea Free Trade Agreement (FTA) will serve as a
milestone to strengthen the two countries'' economic relations, expected
to reach US$70 billion in trade by 2020.