Vietnam, RoK enjoy thriving trade
The Republic of Korea (RoK) surpassed the US to become the second largest trade partner of Vietnam, with two-way trade hitting US$29.1 billion in the first six months of this year.
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The RoK also replaced China to post the largest trade surplus with Vietnam in the period, at US$15.9 billion.
Vietnam’s export to the country increased by 29.1%, while imports surged 51.2%, bringing two-way trade value to US$29.1 billion.
Vietnam mainly exports telephone, textile and aquatic products, electrics and spare-part, wooden products, vegetables and fruit to the RoK, while importing automotive parts, fiber, fabric, equipment and consumer products
Experts attributed the increase to the enforcement of the Vietnam-RoK Free Trade Agreement.
Last year, the value of trade between Vietnam and the RoK stood at US$43.1 billion, of which Vietnam’s exports were valued at US$11.5 billion, up 29% against 2015, led by industry and agriculture.
