Vietnamese and Korean enterprises launch new co-operation opportunities
VOV.VN - An online trading week between Vietnamese firms and those from Chungnam province of the Republic of Korea (RoK) is running from September 5 to September 8, thereby opening up fresh co-operation opportunities for enterprises from both nations in the field of industrial production.
The event is being held by the Korea Trade-Investment Promotion Agency (KOTRA) Hanoi and features the participation of 10 Korean manufacturers and suppliers, including products such as cosmetics-beauty equipment, fruit-food-nutrition-beverages, and industrial supplies and equipment.
These represent high-quality standard products that are widely used in the RoK and are exported to many countries globally.
According to a representative of KOTRA Hanoi, roughly 50 online meetings have been arranged and confirmed in accordance to the needs of both nations’ businesses over the coming week.
In order for online transactions to be effective, KOTRA Hanoi has actively introduced and advised detailed products for each Vietnamese business through various catalogs and the distribution of promotional videos.
The RoK is currently the largest investor in the nation, the second largest contributor to official development assistance (ODA), tourism, labour partners, and the third largest trading partner behind the United States and China, with last year’s bilateral trade turnover reaching US$78.1 billion.
Moving forward, two countries are expected to increase bilateral trade turnover to US$100 billion by 2023.
In contrast, the nation is the focus of the RoK’s southward policy in the ASEAN region amid the two countries' trade turnover accounting for more than 40% of the total trade turnover between the RoK and ASEAN.
In line with this, many multinational corporations and major enterprises with modern technology have invested in the Vietnamese with increased capital scale and project quality, thereby contributing to job creation and income for local workers. This is being done whilst simultaneously improving the level, production capacity, position, and prestige of Vietnam in the international arena.
This year marks an important and meaningful event celebrating the 30th anniversary of diplomatic ties between the two countries.
KOTRA Hanoi will further strengthen trade promotion activities with over 80 face-to-face and online trade events being held the participation of more than 1,300 Korean enterprises and nearly 1,500 Vietnamese enterprises.