December 6, 2006

FTA opens bright prospects on Vietnam seafood exports to South Korea
 

The seafood industry in Vietnam foresees a sharp increase in sales of seafood to South Korea as the country offers duty-free import quotas to some Southeast Asian seafood exporters next year.

The Vietnamese News Agency reports that South Korea will offer annual duty-free import quotas to some seafood products of ASEAN (Association of Southeast Nation)-member countries from January 1, 2007 when the ASEAN - South Korea Free Trade Area Agreement comes into effect.

The Ministry of Fisheries said this would be a good opportunity for Vietnamese businesses to boost seafood exports to this potential market.

The Korean National Fisheries Products Quality Inspection Service under the Ministry of Maritime Affairs and Fisheries has allowed 13 additional Vietnamese seafood processors to export their products to Korea, bringing the total number of qualified firms to 298.