HCM CITY: How to crack the South Korean market and its rules related to product origin were on the agenda at a conference titled “Viet Nam – South Korea Free Trade Agreement: prospects and challenges” that was held in HCM City yesterday.
Le An Hai, deputy head of the Ministry of Industry and Trade’s Asia-Pacific Markets Department, told business executives about preconceptions about Vietnamese goods among Korean consumers and the import regulations and process in South Korea.
He listed eight products that Viet Nam could export to the Northeast Asian country: apparel and footwear; fresh and processed agro-products; household products; fresh and processed seafood; processed cereals; electronic appliances; natural construction materials; and machines and spare parts.
Officials from the ministry’s Bureau of Export-Import and customs apprised attendees about how to document the origins of goods exported to Korea, rules related to it, and requirements to qualify for preferential treatment and tariffs.
The conference attracted executives from around 50 enterprises. The Viet Nam – South Korea Free Trade Agreement (VKFTA) was signed in Ha Noi last May. Last year that country was Viet Nam’s fourth biggest export market while for Korea, Viet Nam was the sixth biggest.
