These companies said they are interested in Vietnam’s crude materials, industrial crops, garments and textiles, footwear, seafood, handicrafts and fine arts and processed agricultural products.

According to the Korean Trade and Investment Promotion Agency (KOTRA), energy, natural resources and food are the areas of greatest concern in Korea and this will provide good opportunities for Vietnamese businesses to penetrate the Korean market.

Over the past eight months of this year, Vietnam’s fruit and vegetable export turnover to the RoK reached US$15.1 million, up 98 percent over the same period last year.

Since diplomatic ties were established in 1992, Vietnam and RoK have developed cooperation in various fields including trade and education.

Two-way trade has sharply increased in recent years, from US$500 million in 1992 to US$13 billion in 2010.

RoK is considered Vietnam’s biggest foreign investor with 2,500 projects with a total registered capital of nearly US$23 billion.

In the first half of this year, two-way trade turnover reached US$8.8 billion, 49 percent more than the same period last year, and the figure is expected to hit US$16 billion this year.

The two governments have set a US$20 billion target for two-way trade turnover by 2015.

Vietnam mainly exports to Korea, crude oil, processed seafood, coffee, rubber, garment and textile products, electronic components, footwear, and iron and steel, while importing garment materials, machinery, equipment, automobiles, petrol and other commodities.