Vietnam- RoK Free Trade Agreement facilitates Vietnamese agricultural exports
(VOVworld) - The Ministry of Industry and Trade has defined challenges and opportunities in the implementation of the Vietnam - Republic of Korea Free Trade Agreement. Speaking in a conference in Ho Chi Minh City, an official from the Ministry's Department of Asia Pacific, Pham Khac Tuyen, highlights challenges facing local businesses:
“Businesses must improve product quality to enter the Korean supply chain. Product quality, prices and time of delivery are decisive factors demanded by Korean importers.”
The conference. Photo: H.Diu/baohaiquan.vn
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South Korea will reduce more than 97% of import taxes on Vietnamese agricultural products, including shrimps, fish and tropical fruits while Vietnam will cut taxes on nearly 93% of industrial products from the Korea.