An official representing the General Consulate of Korea in HCM City told the seminar that Vietnam’s seafood and textile sector will enjoy a reduction in tariffs when the bilateral agreement is finally signed by the two countries.
Vietnam’s seafood and textile export turnover to the RoK reached US$412 million and US$748 million, respectively, over the first ten months of 2012, up 8 percent and 18 percent against 2011.
The RoK is currently the fourth largest investor in Vietnam with 2,823 projects worth US$23 billion. In 2011 alone, the RoK invested more than US$7.9 billion in Vietnam.
Vietnam-Korea Free Trade Agreement (FTA) negotiations were official launched by the Vietnamese Ministry of Industry and Trade and the RoK’s Ministry of Foreign Affairs and Trade.