The farm produce sector is expected to be a major beneficiary from thefree trade agreement recently signed between Vietnam and the Republic ofKorea (RoK), as heard a workshop held in Ho Chi Minh City on May 13.
Ki Bong Moon, a representative from the ASEAN-KoreaCentre (AKC), said the RoK’s imports of farm produce have increased 21times over the past 14 years, especially vegetable and fruits.
Vietnam now has extensive opportunities to promote exports ofits agricultural commodities to the RoK as well as seek investment todevelop the domestic food industry, he suggested, saying Koreanconsumers prefer high-quality and safe products imported from SoutheastAsian countries.
Representatives from the RoK’s EMart Group and Lotte Mart said the companies plan to promote Vietnamesefarm produce including vegetables, fruits and seafood to their homemarket.
Trade between Vietnam and the RoKreached 40 billion USD last year, doubling the figure from 2012. InMarch 2015, bilateral trade hit 8.6 billion USD or an annual rise of 16percent, which is forecast to surge thanks to the trade pact.
Though there are huge opportunities for Vietnamese agriculturalproducers to boost exports to the RoK, experts noted that businessesshould proactively update the list of goods allowed to enter the marketwhile thoroughly studying the demand of the target consumers anddesigning effective marketing strategies.
Vietnamesebusinesses have also been advised to select goods that are suited tothe taste of Korean consumers along with improving the packaging andquality of the products.
The workshop was held bythe Trade Promotion Agency under the Ministry of Industry and Trade, theKorea Trade Promotion Corporation and the AKC.-VNA
Ki Bong Moon, a representative from the ASEAN-KoreaCentre (AKC), said the RoK’s imports of farm produce have increased 21times over the past 14 years, especially vegetable and fruits.
Vietnam now has extensive opportunities to promote exports ofits agricultural commodities to the RoK as well as seek investment todevelop the domestic food industry, he suggested, saying Koreanconsumers prefer high-quality and safe products imported from SoutheastAsian countries.
Representatives from the RoK’s EMart Group and Lotte Mart said the companies plan to promote Vietnamesefarm produce including vegetables, fruits and seafood to their homemarket.
Trade between Vietnam and the RoKreached 40 billion USD last year, doubling the figure from 2012. InMarch 2015, bilateral trade hit 8.6 billion USD or an annual rise of 16percent, which is forecast to surge thanks to the trade pact.
Though there are huge opportunities for Vietnamese agriculturalproducers to boost exports to the RoK, experts noted that businessesshould proactively update the list of goods allowed to enter the marketwhile thoroughly studying the demand of the target consumers anddesigning effective marketing strategies.
Vietnamesebusinesses have also been advised to select goods that are suited tothe taste of Korean consumers along with improving the packaging andquality of the products.
The workshop was held bythe Trade Promotion Agency under the Ministry of Industry and Trade, theKorea Trade Promotion Corporation and the AKC.-VNA
