RoK firms urge ratification of FTAs with Vietnam, China, NZ
Forty-two business associations of the Republic of Korea called on the country’s National Assembly to quickly approve free trade agreements with Vietnam,China and New Zealand to help boost exports.
Producing mobile phones at the RoK's Samsung Electronics Vietnam Co. Ltd in northern Thai Nguyen province (Photo: VNA)
Forty-two business associations of the Republic of Korea (RoK) sent a letter to the country’s National Assembly on August 30, calling for a quick approval of free trade agreements (FTAs) with Vietnam, China and New Zealand to help boost the RoK’s exports.
In their letter, the organisations said the implementation of the trade deals is urgently needed as the RoK faces unfavourable conditions and fear that its economic growth rate could sink to below 3 percent this year.
They added once the FTAs with the three countries come into force, RoK companies will be able to benefit from reduced tariffs on two separate occasions – on the implementation date and January 1 of next year.
The RoK inked the bilateral trade deal with New Zealand in November last year, its FTA with Vietnam was signed in early May this year and the pact with China was signed one month later.
Exports, the RoK's key growth engine, have dropped for the seventh straight month this year, affecting the fourth biggest economy in Asia amidst a global economic slowdown, global oil price nosedive and currency fluctuations.-VNA
Vietnamese business owners gathered at a workshop in Hanoi on May 21 to learn more details of the recently-signed Vietnam–Republic of Korea Free Trade Agreement (VKFTA), making it easier for them to reshape their business strategies in anticipation of opportunities ahead.
The Vietnam – Republic of Korea Free Trade Agreement (VKFTA) signed on May 5 reflects a high level of commitment from both sides and is set to both challenge and benefit the Vietnamese economy in the future.
The business community in HCM City and provinces in the southern region have been informed in detail of the Vietnam-Republic of Korea Free Trade Agreement (VKFTA).
The Korean Trade and Investment Promotion Agency (Kotra) in Hanoi will organise a meeting between local firms and 10 companies from the Republic of Korea (RoK) on September 8.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
The event has gathered over 400 exhibitors from 16 countries and territories, with more than 980 booths showcasing a wide range of products and technologies in automotive components, electronics, repair and maintenance, bodywork, accessories, and customisation.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
The price of E5 RON92 petrol is now capped at 20,631 VND (0.79 USD) per litre, up 1,169 VND from the previous adjustment, while RON95-III costs no more than 21,244 VND per litre, up 1,277 VND.
While German consumers are familiar with Vietnamese products such as coffee, seafood, tea, and spices, many other quality items remain relatively unknown in the market. The Selgros event not only helped introduce Bac Giang lychee to German consumers but also provided them with the opportunity to experience other Vietnamese agricultural products.
Producing mobile phones at the RoK's Samsung Electronics Vietnam Co. Ltd in northern Thai Nguyen province (Photo: VNA)
