Korean and Vietnamese business executives at the Vietnam-Korea B2B Meeting held in HCM City on December 1. (Source: VNA)HCMCity (VNA) - Executives from 20 companies based in the Republic ofKorea’s Gyeongsangbuk-do Province met with nearly 90 Vietnamese counterparts inHCM City on December 1 to discuss business opportunities.
Thecompanies operate in sectors like cosmetics; food; beverages; and agriculturalproduce like rice, fruits, and ginseng.
Speakingat the Vietnam-Korea B2B Meeting, Hoang Van Anh of the Vietnam Chamber ofCommerce and Industry, said the RoK is Vietnam’s third largest trading partnerand Vietnam is the RoK’s fourth largest.
Theirtrade was worth over 45 billion USD in the first nine months of this year, withVietnam having a deficit.
Thetwo have similar agricultural produce, but Vietnamese firms need to learn fromtheir Korean counterparts to improve their production, Anh said.
“Vietnamesecompanies should promote technical cooperation with Korean firms in processingfarm produce or can work with Korean companies at the event to promote exportof their products to Korea.”
KimHeung Soo, chairman of the Korean Chamber of Commerce and Industry in the southand centre of Vietnam, agreed with Anh, saying Korean firms should not onlythink of exporting their products to Vietnam but also consider importingVietnamese products.
Vietnamhas an abundant supply of farm produce, including many high-value specialitiesat cheap prices, he said.
KimChang Yil, a representative of Yeongju city businesses, said the RoK has manykinds of farm produce and processed specialities like red ginseng, ginseng, andfruit juices.
Theseare of high quality and safe and popular in many countries, he said.
Withits rapid economic development and rising incomes, Vietnam has increasingdemand for higher quality products, which the Koreans can offer.
Theevent, part of the RoK-Vietnam Trade and Culture Exchange Festival being heldin HCM City, is expected to furtherpromote bilateral trade, Son In Rak, CEO of Yeoungnam daily newspaper, one ofthe organisers of the event, said.
Thefestival, being held from November 30 to December 4, includes activities like a multi-cultural family reunion, an exhibitionof Vietnamese and Korean products, a buyers meeting, art performances and agala dinner.
Theevent is hosted by Gyeongsangbuk-do Province and Glocal Kim together with thenewspaper in collaboration with the VCCI.-VNA
