Industrial and agricultural firms from the Gyeongsangbuk province of the Republic of Korea see Vietnam as a great potential market for their products, according to the province’s Vice Governor.
Addressing a trade seminar in HCM City on November 2, Vice Governor Woo Buyng Yoon said Gyeongsangbuk province is the largest farm produce granary in the RoK with around 200 kinds of products.
Woo said Vietnam attracts RoK firms as the country has one of the highest growth rate in Southeast Asia region, along with a big population is big and fast growing consumption demand.
Vietnam can also be a gateway to other countries in the ASEAN region, he said.
Nearly 30 RoK firms operating in agricultural products, health food, and cosmetics introduced their products at the seminar and answered questions from Vietnamese enterprises to seek import partners and distributors.
Tran Ngoc Liem, Deputy Director of the Vietnam Chamber of Commerce and Industry (VCCI)’s office in HCM City, said RoK products have both high quality and attractive packaging.
Products from the RoK will help diversify goods in Vietnam, putting pressure on Vietnamese enterprises to reform technology, improve quality and boost competitiveness of Vietnamese goods, Liem added.
In recent years, Vietnam-RoK trade exchange has grown strongly with two-way trade value expected to hit 40 billion USD in 2016.