ex. Game, Music, Video, Photography

South Korea, Vietnam eye $70 billion in trade by 2020

A free trade agreement which came into effect late last year is expected to be a key driver for growth in bilateral trade.

Ngày đăng: 22 tháng 9, 2021
Cập nhật: 22 tháng 1, 2023
Lượt xem: 331906612
Nguồn: vnexpress

South Korea and Vietnam, which have seen their trade value surge nearly three times over the past five years, are aiming to raise the number to $70 billion by 2020.

The target was announced less than a year after a free trade pact between the two countries came into effect.

At a recent meeting with the press in Seoul, the ASEAN-Korea Center's Secretary General Kim Young-sun said he is confident that the target will be achieved.

Thanks to the new trade agreement, products from the countries have been enjoying low tariffs.

In the first eight months this year, South Korea was the fourth biggest market for Vietnamese goods, mostly seafood and apparel and agricultural products.

Vietnam also imported a lot of products from the East Asian country, with purchases including appliances and cosmetics ranking second only after goods from China in terms of value.

Even before the pact, the value of bilateral trade had been growing at a fast pace, nearly tripling from $12.8 billion in 2010 up to $36.55 billion last year.

High-tech exports from South Korean companies such as LG and Samsung now account for a large part of shipments from Vietnam.

The ASEAN-Korea Center was established in 2009 with the main functions of promoting economic, cultural and social exchange activities between South Korea and member countries of the Southeast Asian bloc.

Related news:

> S Korea stock exchange to provide IT platform for Vietnam's bourse

> South Korea ‘blocks’ budget tours from Vietnam

> Peace foundation offers statue to apologize for S. Korea’s war atrocities in Vietnam


Từ vựng liên quan

Tin tức liên quan

HCMC extends closure of Hoc Mon wholesale market
business 14/09/2021

HCMC extends closure of Hoc Mon wholesale market

economy | 312856606

The complicated Covid-19 situation has prompted authorities to further extend the closure of Hoc Mon, one of the three biggest wholesale markets in HCMC, until July 15.

 Starfish pay with their lives for a few photo-ops on Phu Quoc island
travel 12/04/2021

Starfish pay with their lives for a few photo-ops on Phu Quoc island

places | 186406649

Tourists leaving red starfish to die on the sands after taking a few pictures on Phu Quoc, Vietnam's largest island, has triggered public outrage.

 The greatest mausoleum of Vietnam
travel-life 27/03/2021

The greatest mausoleum of Vietnam's final feudal dynasty

travel-life | 111026645

The king had a hundred wives but no heir. His legacy is shaped in a breathtaking mausoleum on the outskirts of Hue, Vietnam's former imperial capital.

Investment mode change cuts North-South Expressway cost by millions
business 22/09/2021

Investment mode change cuts North-South Expressway cost by millions

economy | 332706605

By switching to public funding for building some sections of the North-South Expressway, the government has cut interest costs by hundreds of millions of dollars.

VietJet stock jumps 20 pct on debut - exchange
business 16/09/2021

VietJet stock jumps 20 pct on debut - exchange

business | 318886613

That's the maximum jump allowed for stock price on its debut day by Ho Chi Minh Stock Exchange.

Vietjet to finalize $6.5 billion Airbus order: sources
business 14/09/2021

Vietjet to finalize $6.5 billion Airbus order: sources

companies | 312196601

Vietjet is set to finalize a $6.5 billion jet order with Airbus ​during a visit to Hanoi by French PM Edouard Philippe on Friday.

 Sanctuary offers hope for endangered Philippine eagle
news 13/04/2021

Sanctuary offers hope for endangered Philippine eagle

news | 187106651

Surprisingly loud chirps accompany a clumsy flurry of tiny wings as a wispy-haired chick breaks through its shell, its birth offering rare cause for celebration in the struggle to save the Philippine eagle from extinction.

Urban Vietnamese happy to pay more for healthy food: survey
business 24/09/2021

Urban Vietnamese happy to pay more for healthy food: survey

data-speaks | 337156606

Most urban Vietnamese are willing to pay higher prices for healthier foods since health remains a top concern, a survey has found.

 Vietnamese beauty fuels controversy with her own panel at Cannes
life 07/09/2021

Vietnamese beauty fuels controversy with her own panel at Cannes

life | 244096629

Some say she is advertising herself rather than Vietnamese tourism.

 No respite for central Vietnam from landslides, flooding
news 28/03/2021

No respite for central Vietnam from landslides, flooding

news | 137476642

Heavy rains brought by Storm Etau over the past three days have caused landslides and severe flooding in central provinces, disrupting traffic and badly affecting people's lives.

Link Tài Trợ - Sponsored Links

Công Thức Vật Lý
Loading…