Detailed information on Vietnam-RoK FTA to be issued

The Vietnam Chamber of Commerce and Industry (VCCI) will issue a book featuring detailed information to help the Vietnamese business community learn more about Vietnam-Republic of Korea (RoK) Free Trade Agreement (FTA).

The workshop ‘Vietnam-RoK FTA: Committed Contents, Impacts on Vietnamese businesses’ (Credit: vtv.vn)
The workshop ‘Vietnam-RoK FTA: Committed Contents, Impacts on Vietnamese businesses’ (Credit: vtv.vn)

The information was released at a workshop themed ‘Vietnam-RoK FTA: Committed Contents, Impacts on Vietnamese businesses’ in Hanoi on May 21.

The event aims to inform Vietnamese businesses of the important contents of the Vietnam-RoK FTA covering commodity and service trade, investment, intellectual property, food hygiene, plant quarantine, rules of origin, customs facilitation, trade protection, technical barriers in trade, e-commerce, competition, economic cooperation and legal regulations.

Through the workshop, the relevant ministries can support businesses to prepare business strategies in order to take full advantage of the agreement.

In addition to information on the FTA, the businesses were provided with necessary notes to co-operate with the RoK partners as well as to approach the RoK market.

Vietnam and the RoK, on May 5, officially signed the first FTA that includes 17 chapters, 208 articles, 15 appendices and one agreement specifying commitment delivery.

Under the agreement, the RoK side will offer Vietnam tariff reductions and many new export opportunities for key agro-forestry, fishery and industrial products including shrimp, crab, fish, tropical fruits, textiles, wood and engineering products.

Meanwhile, Vietnam also committed to provide preferential treatment for the products from the RoK including cosmetics, pharmaceuticals, automobiles, engines, components, textiles and footwear.