Vietnam looks to boost exports to RoK

A consulting session on measures to further promote Vietnam's export to the Republic of Korea (RoK) was held in the northern province of Hung Yen on March 29.

The event was jointly organised by the Trade Promotion Agency under the Ministry of Industry and Trade (MoIT) and the Vietnam Trade Office in the RoK.

According to Pham Kha Tuyen, First Secretary in charge of the Vietnam Trade Office in the RoK, for Vietnamese businesses, the RoK is a very attractive market, especially for commodities such as agricultural and aquatic products, processed food, textiles, footwear, and furniture.

Tuyen said that the event offered a good chance for Vietnamese enterprises to learn about how to boost the export of their products to the potential market.

The MoIT reported that the bilateral trade turnover between Vietnam and the RoK hit US$78.1 billion in 2021, a year-on-year increase of 18.33%.

Vietnam’s exports to the RoK reached US$21.9 billion, while it spent US$56.2 billion on imports from the East Asian country, up 14.9% and 19.7%, respectively.

In the first two months of this year, two-way trade continued to grow strongly, hitting US$13.8 billion, rising by 19.03% over the same period last year.