New TLC favours entry of Vietnamese seafood products
Monday, December 22, 2014, 03:40 (GMT + 9)
After a recent summit in Busan with Vietnamese Prime Minister Nguyen Tan Dung and South Korea’s President, Park Geun-hye, the two countries virtually concluded free trade negotiations.
Vietnam and South Korea are on the brink to conclude talks on other technical issues and are likely to sign the trade pact in early 2015, Le An Hai, deputy head of the Asian Market Agency of the Vietnamese Ministry of Industry and Trade announced.
Some Korean agricultural produce, such as rice, chili peppers, onions and green tea have been left out. Nevertheless, import duties on Vietnamese fishery products and tropical fruit will be abolished. This will put more pressure on the Korean agricultural and fisheries industries.
The two countries had maintained free trade relations through the Korea-ASEAN FTA. However, they started separate talks in August 2012 as the Korea-ASEAN FTA ha... FULL STORY