Illustrative image (Photo: VNA)Hanoi (VNA) – The Republic of Korea (RoK) is the fifth largestimporter of Vietnamese shrimp products, accounting for 10.7 percent of thecountry’s total shrimp export value.
According to the Vietnam Association ofSeafood Exporters and Producers (VASEP), Vietnam is exempt from import tax onshrimp in the Republic of Korea up to 15,000 tonnes a year under the Vietnam-KoreaFree Trade Agreement (VKFTA). Vietnam only ships around 2,500 tonnes.
To utilise the opportunity, VASEP said shrimp exporters need to improve qualityand remain abreast of the RoK’s procedures and requirements to overcometechnical barriers.
Vietnam’s shrimp export to the RoK recorded positive growth in the firsttwo quarters of 2020. VASEP forecast thesector to reach a growth of 5 percent in 2020.
In recent years, Vietnam has been the leading shrimp supplier to the RoK,accounting for 52 percent of that country’s total imports./.
VNA
