Exports from the Republic of Korea (RoK) to Vietnam, Saudi Arabia and other rapidly-growing nations have enjoyed a double digit growth, according to the Korea Trade-Investment Promotion Agency.
Manufacturing mobile phones at Samsung Electronic Vietnam Thai Nguyen (Photo: VNA)
Exports from the Republic of Korea (RoK) to Vietnam, Saudi Arabia and other rapidly-growing nations have enjoyed a double digit growth, according to the Korea Trade-Investment Promotion Agency (KOTRA).
The agency on October 6 also urged local exporters to more actively target these markets on October 10.
RoK exports to Vietnam in the first eight months of this year surged 30.2 percent compared to the same period last year. Exports to Saudi Arabia rose 22 percent followed by Morocco at 19.4 percent, the Czech Republic at 16.7 percent and Mexico at 14.1 percent.
This has been a breakthrough in the field given the RoK’s overall outbound shipments dropped 6.1 percent in the period.
RoK exporters should make greater inroads into the above countries, all of which have posted robust economic growth, a KOTRA spokesman said.
RoK manufacturers, which have established plants in Vietnam, Mexico, the Czech Republic and other emerging economies, provide a wide range of industrial spare parts and intermediate goods to their production facilities in these countries.
This has increased the volume of RoK exports to the countries, KOTRA noted.-VNA
Vietnam always welcomes enterprises of the Republic of Korea (RoK) and is willing to create favourable conditions for them to do business in the Southeast Asian country, Vice State President Nguyen Thi Doan said.
Vietnam wishes that businesses from the Republic of Korea (RoK) would increase their investment in the country, especially industries with high-added value and modern technology-intensive industries.
Enterprises from the Republic of Korea (RoK) are seeking locations in Vietnam to establish clusters of businesses operating in the same sector or related areas, General Manager of VNNH Co., Ltd Noh Kyeong Yong has said.
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Manufacturing mobile phones at Samsung Electronic Vietnam Thai Nguyen (Photo: VNA)
