There will be a lot of opportunities for Vietnam to export its seafood products to the Republic of Korea once the free trade agreement between the two countries is signed in 2015, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
There will be a lot of opportunities for Vietnam to export itsseafood products to the Republic of Korea once the free tradeagreement between the two countries is signed in 2015, according to theVietnam Association of Seafood Exporters and Producers (VASEP).
The agreement stipulates that Vietnam will enjoy numerouspreferential treatments, including tariff reductions for agricultural,seafood, apparel, and mechanical engineering products.
This is the first time the RoK has opened its market to “highlysensitive” products, including shrimp, fish, cuttlefish and octopus fromoverseas.
The RoK is the fifth biggest importer of Vietnamese shrimp, behind the US, Japan, the European Union, and China.
Shrimp exports to the country brought Vietnam 317.8 million USD in 2014, a 41.3 percent increase from 2013.
The RoK has become one of the three top destinations for Vietnamesecuttlefish and octopus with a substantial 26.5 percent growth in 2014,especially with export revenue in the second quarter soaring by 58percent from the same period in 2013.
Vietnamese enterprises now consider the RoK a stable market for Vietnamese seafood products.-VNA
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