The newly signed free trade agreement between Vietnam and the Republic of Korea (RoK) will open up opportunities for export and reduce Vietnam’s current trade deficit with the RoK.
The newly signed free trade agreement between Vietnam and the Republic of Korea (RoK) will open up opportunities for export and reduce Vietnam’s current trade deficit with the RoK, experts said at a workshop held in Ho Chi Minh City on October 15.
According to Bui Thi Thanh An, Deputy Head of the Vietnam Trade Promotion Agency under the the Ministry of Industry and Trade (MoIT), despite soaring outbound shipments to the RoK, Vietnam saw a trade deficit of more than 13.2 billion USD with the East Asia economic power in the first eight months of this year.
In the January-August period, the two nations’ import-export transactions generated almost 24 billion USD – up 31 percent year-on-year, 18.6 billion USD of which was the value of goods Vietnam imported from the RoK.
The pact will enhance bilateral engagement in various fields but particularly in the trade of agricultural products, stated Le An Hai, Deputy Head of the MoIT’s Asia-Pacific market department.
The MoIT recommended that domestic businesses grasp the chances in sectors with good prospects, including garment-textiles, footwear, agricultural produce and household articles.
The two nations posted 28.8 billion USD in trade revenue last year, a substantial expansion from the 0.5 billion USD recorded in 1992. Also in 2014, the RoK became the third biggest commercial partner of Vietnam while Vietnam was ranked sixth among the RoK’s largest export markets.-VNA
The Ha Nam Vocational College in the northern province of Ha Nam and the Yeungnam University in the Republic of Korea sealed an agreement on education cooperation in the Vietnamese province.
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.
Scores of businesses from the Republic of Korea (RoK) have carried out social and charitable activities while operating in Vietnam, as heard at a press conference in Hanoi on October 6.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
Illustrative image (Source: VNA)
