The statement was said by Vietnamese Ambassador to the RoK Pham Huu Chi in an interview with the Vietnam News Agency on the sidelines of the 29th Diplomatic Conference in Hanoi on August 22-26.
He said the pact will help Vietnam improve its business environment and accelerate economic restructuring towards increasing added value and competitiveness in the global value chain.
It is also expected to attract investment from the RoK into Vietnam , he said, adding that the RoK is one of the leading nations in technology, especially energy, mechanics and electronics.
The efforts to draw RoK investment will help Vietnam develop technological skills and production capacity, he said.
Tax reductions under the deal will create new opportunities for Vietnamese farm produce and seafood as well as garment-textile, timber and mechanical products to enter the RoK.
Vietnam is the RoK’s first trade partner that can export high-tax-rate products like garlic, ginger, honey, and sweet potatos to the RoK, he noted.
The free trade agreement between ASEAN and the RoK will generate more opportunities for Vietnamese export commodities than that of other rivals like China , Indonesia , Malaysia , and Thailand .
The RoK agreed to an annual import quota of 10,000 tonnes of Vietnamese shrimp at zẻo tariff, which will be raised to 15,000 tonnes by 2020.
As an ASEAN member, Vietnam also benefits from the ASEAN-RoK free trade agreement which has enabled the bloc to export 5,000 tonnes of untaxed shrimp to the RoK. But currently, Vietnam only ships 2,500 tonnes of without tax shrimp to the market.
The Ambassador, however, also pointed to challenges that Vietnam is facing, including the RoK’s tariff reductions – which will create more pressure for domestic businesses. The difference between import-export structure of the two countries is likely to make Vietnam run a trade deficit with the RoK.
Vietnam and the RoK set up diplomatic ties in 1992 and since then bilateral relations have grown rapidly. The establishment of the strategic cooperative partnership in 2009 has helped deepen the bilateral rapport.
The RoK is now the biggest investor in Vietnam with nearly 5,000 projects worth about US$50 billion and the third largest trade partner, after China and the US, with two-way trade reaching US$37 billion in 2015 and likely to hit US$70 billion by 2020.
Source: VNA
(seafood.vasep.com.vn) Market fluctuations, rising production costs, and increasingly stringent requirements from export markets are placing growing pressure on the shrimp industry. In response, Vinh Long Province is promoting high-tech shrimp farming integrated with production–consumption value chains to improve efficiency, reduce risks, and enhance the industry's value.
(seafood.vasep.com.vn) Vietnam's tilapia exports to Japan posted strong growth in the first half of 2026, while a promising new trend has emerged in the value-added product segment. Notably, Vietnamese tilapia fillets have been exported to Japan for use in sushi and sashimi, creating new opportunities to enhance the value of the industry in one of the world's most demanding seafood markets.
(seafood.vasep.com.vn) After a relatively sluggish first quarter, Vietnam's exports of fish cakes and surimi showed a clearer recovery in the second quarter, particularly in June. Export value in the first six months of 2026 reached USD 148 million, down 2% year on year. However, the newly imposed 12.5% additional U.S. tariff on Vietnamese goods, intensifying competition in Northeast Asia, and increasingly stringent traceability requirements in the EU are making the outlook for the second half of the year more uncertain.
(seafood.vasep.com.vn) In June 2026, Vietnam's shrimp exports reached nearly USD 458 million, up 24% year-on-year. In the first six months of 2026, export value totaled USD 2.35 billion, an increase of 14.2% compared with the same period last year. Growth was driven mainly by the Chinese market and the strong performance of lobster exports, while shrimp exports continued to face pressure from U.S. tariffs and rising logistics costs.
(seafood.vasep.com.vn) As part of Vietfish 2026, the Hosted Buyer Program is designed as a specialized B2B matchmaking initiative for selected international buyers, providing opportunities to meet directly with Vietnamese seafood exporters, gain the latest market insights, and experience Vietnam's seafood supply chain firsthand.
(seafood.vasep.com.vn) A project titled "Sustainable Shrimp Industry Governance" has been launched in Ca Mau Province with the aim of supporting the transition of the province's shrimp industry toward higher quality, lower emissions, stronger governance capacity, improved supply chain traceability, and the development of a sustainable shrimp brand that meets the increasingly stringent requirements of export markets.
(seafood.vasep.com.vn) Khanh Hoa Provincial Agricultural Extension Center, in collaboration with the Northern Center for Marine Aquaculture Research and the Van Hung Public Service Center, recently organized a training course on disease-free golden pompano seed production. The program is part of a National Agricultural Extension Project aimed at developing industrial-scale seed production models to support sustainable marine aquaculture.
(seafood.vasep.com.vn) Vietnam’s pangasius exports have shown encouraging signs of recovery in 2026. In the first four months of the year, total export turnover reached USD 720 million, up 17% compared to the same period last year. This result reflects improving demand across many markets, as well as the efforts of Vietnamese pangasius enterprises to maintain production, secure orders, and adapt to changing market conditions.
(seafood.vasep.com.vn) The application of high technology in shrimp farming is delivering positive results in the coastal areas of Vinh Long Province, contributing to improved production efficiency and creating significant potential for further industry expansion. However, to fully capitalize on this potential, the province is focusing on aquaculture zoning, infrastructure investment, and promoting modern, sustainable production.
(seafood.vasep.com.vn) Đồng Tháp Province has intensified efforts to curb illegal fishing by strengthening vessel monitoring, law enforcement and seafood traceability.
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