Invest KOREA

(SEOUL=NEWSIS) The Korea Trade-Investment Promotion Agency (KOTRA) announced March 2 that it will launch the Korea-Vietnam FTA Support Center in Hanoi and Ho Chi Minh City, Vietnam on March 2 and 4, respectively.

The Korea-Vietnam FTA Support Center will provide an in-depth support service to buyers and companies seeking to capitalize on the free trade agreement (FTA) between the two countries. The center will handle issues related to tariff concession, certificate of origin, customs clearance and non-tariff barriers.

Vietnam emerged as Korea’s third largest export market in 2015, following China and the United States. Korea’s exports to Vietnam reached USD 27.90 billion in 2015, a 24.3 percent increase year-on-year, despite weak exports.

"Vietnam is a strategically important country in terms of Trans-Pacific Partnership and ASEAN Economic Community. We have to make the best use of the Vietnamese market to overcome falling exports," said KOTRA CEO Kim Jae-hong.

gogogirl@newsis.com