December 8, 2006

FTA helps Vietnam open seafood exports to South Korea  

Vietnam is expected to see a sharp increase in seafood exports to South Korea as the latter would be offering duty-free import quotas to some ASEAN seafood products from next year.

South Korea would offer annual duty-free import quotas to some seafood products of ASEAN member countries from January 1, 2007 when the ASEAN - South Korea  Free Trade Area Agreement comes into effect, according to the Ministry of Fisheries.

This meant a good opportunity for Vietnamese businesses to boost seafood exports to this potential market, officials said.

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