The recently concluded bilateral agreement will govern trade in goods and services, customs procedures, intellectual property standards, food hygiene and safety, and rules of origin. It is also committed to removing barriers to electronic commerce and legal institutions. Prime Minister Nguyen Tan Dung attended the signing ceremony of the Vietnam-Korea Free Trade AgreementWith the agreed content, the agreement is expected to have a positive impact on many aspects of Vietnam. The economy, trade, investment, signing the agreement will help Vietnam VKFTA to more effectively improve the business environment, allocation and use of social resources, thus accelerating the process of restructuring the economy towards greater added value. serve the objectives of sustainable development. Vietnamese exports will benefit from many new market opportunities thanks to commitments to open up the market to South Korea`s strong enterprises. A wide range of South Korean products benefit from preferential treatment under the Vietnam Agreement. One of the main sectors of activity covered by the agreement is automotive, electronics and textiles – among the products preferably treated are plastic materials, steel products, electrical cables, household appliances and vehicles with a size of 2,500 cc and more. Stapimex chief executive Tran Van Pham said ROK will increase its quality criteria for Vietnamese shrimp. In addition, the export price to RoK is relatively low compared to other markets in Asia, so that when the cost of inputs is higher, the increase in profits is not significant, even if the import tax is reduced. In the future, ROK will sign free trade agreements with other countries in order to effectively offset tax advantages between countries, so Stapimex must remain proactive in lowering prices and improving the quality of its products to be competitive in the long term. You can browse the IIAs concluded by a particular country or group of countries, view the recently concluded ais or use the extended contract search for demanding research tailored to your needs.
Please cite as: UNCTAD, International Investment Agreements Navigator, available from investmentpolicy.unctad.org/international-investment-agreements/ Nguyen Hong Anh, Director of Human Resources at Binh Duong Garment Company, said that ROK is only the middle market, as most Vietnamese exports are not actually sold to Korean consumers. With this agreement, Korean companies will look for partners in Vietnam to buy clothing that will be shipped to ROK and then exported to other countries. Chairman and CEO of Gia Dinh Corporation Nguyen Chi Trung also shares the view that ROK enterprises will benefit from a greater relocation of their production activity to Vietnam, while the preferential treatment given to ROK for Vietnamese agricultural products is not essential. . . .