Vietnam ranks third in exporting mango to RoK | Enterprise

Illustrative picture (Photograph: VNA)

Hanoi (VNA) – Vietnam is the third largest mango provider for the Republic of Korea (RoK) on the earth, however the imports from Vietnam solely account for five.8% of the Asian nation’s complete, the Import – Export Division underneath the Ministry of Trade and Commerce has reported.

In accordance with the division, there’s an ample room for Vietnamese companies to advertise their export of the fruit to the RoK within the coming time. It urged Vietnamese exporters to totally faucet benefits created by the Vietnam – Korea FTA (VKFTA) to spice up exports to the nation.

Citing information from the Korea Worldwide Commerce Affiliation (KITA), the division stated that the RoK’s mango import from Vietnam within the first three months of 2023 reached 8,000 tonnes price 36. 4 million USD, down 18% in quantity and 19% in worth over the identical interval final 12 months. 

In accordance with the Vietnam Commerce Workplace in the RoK, in 2023, quite a lot of components will proceed to have an effect on Vietnam’s exports to the nation as a result of the Korean economic system faces large inflationary strain, and rising rates of interest.

As a way to promote the export of Vietnamese items, particularly agricultural and aquatic merchandise and processed meals, to the RoK, Vietnamese companies ought to pay particular consideration to assembly Sanitary and Phytosanitary Requirements (SPS) of the nation.

Consideration needs to be paid to strengthening exchanges and cooperation actions between home enterprise associations and Korean counterparts, in addition to with distribution firms of the RoK corresponding to Lotte Mart, E-Mart, House Plus, and CJ House Shoping, thus rising gross sales alternatives in supermarkets and distribution channels within the RoK, the workplace stated.

It additionally really helpful different measures, together with supporting Vietnamese enterprises to advertise and promote their merchandise at main Korean e-commerce websites corresponding to Coupang and Gmarket, encouraging Vietnamese exporters to participate in prestigious commerce festivals within the RoK, and organising discipline journeys for RoK companies that are inquisitive about establishing commerce and funding cooperation with Vietnamese corporations and enterprise associations.

Specifically, Vietnam wants a stronger mechanism to draw Korean companies to cooperate and put money into producing agricultural merchandise for export to the RoK, it added./.