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RoK sees Vietnam as potential market for industrial, agricultural products

RoK sees Vietnam as potential market for industrial, agricultural products

Addressing a trade seminar in Ho Chi Minh City on November 2, Vice Governor Woo Buyng Yoon said that with around 200 kinds of farm produce, North Gyeongsang was the RoK’s top producer of agricultural products.

Vice Governor Woo said Vietnam attracted RoK firms because it has one of the highest growth rates in Southeast Asia, coupled with a large population and rapidly growing demand for goods.

He said Vietnam could also be a gateway to other ASEAN countries.

Nearly 30 RoK firms producing agricultural products, health food and cosmetics had exhibited their products at the seminar and answered questions from Vietnamese enterprises seeking import partners and distributors.

Tran Ngoc Liem, Deputy Director of the Vietnam Chamber of Commerce and Industry (VCCI)’s office in Ho Chi Minh City, said RoK products were of high quality and had attractive packaging.

He added that products from the RoK would help to diversify the range of goods available in Vietnam, putting pressure on Vietnamese enterprises to reform their technology and improve the quality and competitiveness of their goods, Liem added.

In recent years, Vietnam-RoK trade has seen strong growth, with two-way trade expected to hit US$40 billion in 2016.