New opportunities arising from RoK-ASEAN FTA
13/11/2013 55
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(VOV) -Local businesses should seize new opportunities offered by the free trade agreement (FTA) between the Association of Southeast Asian Nations (ASEAN) and the Republic of Korea (RoK), said participants in a seminar in HCM City on November 12.
Vietnam-RoK trade value had increased by four fold to US$21.7 billion in 2012. However, they said, the figure has not yet met both sides’ huge potential.
They suggested Vietnamese and Korean businesses focus on removing trade barriers, managing product origins and conducting market surveys to take full advantage of free trade markets.
They highlighted the significance of the FTA that helps increase global competitiveness, promote exports, boost economic growth and overcome the negative impact caused by the financial crisis. As of October 2013, as many as 346 FTAs were signed, they noted.
The seminar was jointly held by the Vietnam Chamber of Commerce and Industry (VCCI) and the RoK Consulate General in HCM City to encourage the business community to seize new opportunities and deal with challenges posed by the RoK-ASEAN FTA.
Source: http://english.vov.vn
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