FTA boosts RoK exports to Vietnam
The Republic of Korea’s exports to Vietnam have increased sharply this year thanks to the enforcement of a free trade agreement between the two countries which was ratified late last year.
Especially, the RoK’s consumer goods exports surged 14.2 percent in the same period with the shipment of washing machines soaring by 102.1 percent, as a 5-percent tariff was removed under the FTA.
KOTRA cited a recent survey showing that 42 percent of 60 questioned Korean exporters said that their exports to Vietnam increased after the Vietnam-RoK FTA took effect and 63 percent expected that the deal will help them expand business activities in 2017.