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
(vasep.com.vn) Vietnam’s tuna exports reached USD 81 million in April 2026, down 6% compared to the same period in 2025. In the first four months of the year, export turnover totaled USD 289 million, down 4.8%. Although the overall export picture has yet to brighten significantly, market trends are becoming increasingly diversified rather than moving in a single direction.
(seafood.vasep.com.vn) Vietnam’s pangasius industry is undergoing strong restructuring starting from the broodstock and fingerling segment in order to improve productivity, quality, and export competitiveness. This is considered a critical foundation for the sustainable development of the industry amid rising production costs and increasingly stringent market requirements.
(seafood.vasep.com.vn) According to Vietnam Customs data, pangasius exports in April 2026 reached USD 206 million, up 18% compared to the same period in 2025 — marking another consecutive month of double-digit growth since the beginning of the year. Cumulative pangasius export turnover in the first four months of 2026 reached USD 720 million, up 17% year-on-year, reflecting the positive growth momentum of this key export product.
(seafood.vasep.com.vn) Vietnam’s shrimp exports in the first four months of 2026 maintained positive growth momentum, reaching approximately USD 1.5 billion, up 15% compared to the same period last year. However, behind this result lies diverging trends across markets, as the global shrimp industry continues to face pressure from inflation, high inventories, price competition, and increasing trade risks.
(seafood.vasep.com.vn) In Vinh Tuy commune (Kien Giang Province), many shrimp farmers are adopting bottom aeration systems and reporting clear economic benefits, helping increase income and reduce production risks.
(vasep.com.vn) In the first three months of 2026, Vietnam’s exports of crabs and other crustaceans reached more than USD 93 million, up 23% compared to the same period last year. The result shows that the sector is experiencing a fairly positive recovery, especially in its two key product groups: crabs and swimming crabs. However, behind the growth figures are several concerns: export markets remain highly concentrated, raw material supply is unstable, and trade barriers from the US and EU are becoming increasingly stringent.
(seafood.vasep.com.vn) In Ca Mau province, many farmers are transitioning from traditional methods to high-tech shrimp farming, adopting recirculating systems with minimal water exchange to improve efficiency and reduce risks. In Hung My commune alone, there are about 260 super-intensive shrimp farming households covering more than 265 hectares, playing a key role in local economic development.
(seafood.vasep.com.vn) In the first three months of 2026, Vietnam’s exports of fish cake and surimi reached USD 63 million, down 5% compared to the same period last year. Although total export value declined slightly due to decreases in some key markets, many other destinations continued to post strong growth, opening up room for this convenience-oriented processed segment in the coming quarters.
(seafood.vasep.com.vn) Favorable weather conditions in the early months of 2026 have brought encouraging signs for fisheries activities in Quang Tri. Output has grown steadily, contributing to improved livelihoods for local residents.
Entering 2026, Vietnam’s seafood industry is facing a period of both high expectations and mounting pressures. Following the positive recovery in 2025, production and export activities in Q1/2026 demonstrated the strong adaptability of Vietnam’s seafood business community amid continued global trade volatility, intensifying international competition, and increasingly stringent compliance requirements in import markets.
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