Vietnam, RoK aim for US$100 billion trade target this year

The Korea Trade and Investment Promotion Agency (KOTRA Hanoi) have successfully organised a direct trade exchange between businesses from the RoK’s Incheon city and Chungbuk Province and Vietnamese importers at Lotte Hanoi Hotel recently.

During the course of the event, a total of 20 prestigious Korean manufacturers and suppliers introduced Vietnamese importers to a wide range of products, ranging from essential consumer goods to industrial products. Due to their strengths in cosmetics, food supplements, and health products, Korean enterprises have received special attention from Vietnamese importers.

With regard to the overall effectiveness of the direct trade exchange, An Manh Tung, director of Tung Minh Import-Export Joint Stock Company, said that local businesses remain keen on the RoK’s health care products as a result of their high quality, adding that through 120 direct trade exchanges nearly 70 Vietnamese firms have found suitable products from Korean suppliers.

Eun Sung Kang,dDirector of Flexplay Korea, emphasised that this marks the fourth time that the enterprise has come to Vietnam in order to seek co-operation opportunities, noting that Flexplay's whole grain and cereal powdered milk products have great potential for further development in the Vietnamese market.

As a means of fulfilling the Vietnam-RoK trade turnover target of US$100 billion, Tran Thi Hai Yen, head of KOTRA Hanoi's office, said the KOTRA Office will continue to arrange between 70 and 80 direct and online trade events this year in a bid to connect more than 1,000 Korean enterprises with over 1,500 local businesses.