Diverse activities underway to connect Vietnamese, RoK business

16:00 | 25/03/2022 Events

(VEN) - The Korea Trade-Investment Promotion Agency (KOTRA) in Hanoi is organizing various business connection activities in 2022 to mark the 30th anniversary of diplomatic relations between Vietnam and the Republic of Korea (RoK). Vietnam Economic News’ Viet Nga spoke with Tran Thi Hai Yen, Head of KOTRA Hanoi, about these activities.

diverse activities underway to connect vietnamese rok business
Tran Thi Hai Yen, Head of KOTRA Hanoi

Could you elaborate on the online trade events connecting Vietnamese and RoK businesses recently organized by KOTRA?

The year 2022 will mark the 30th anniversary of diplomatic relations between Vietnam and the RoK. To welcome this anniversary, we have outlined a plan to organize a series of trade promotion events this year.

An online trade event took place from March 21-25 with the participation of 58 reputable manufacturers/suppliers from four provinces and cities of the RoK: Daegu, Jeonju, Incheon, and Gyeongbuk. These cities and provinces send business delegations to Vietnam annually to seek cooperation opportunities.

RoK companies introduced high-quality products including food and beverage, dietary supplements, cosmetics, mom and baby utensils, and household utensils. Seventy-six Vietnamese companies registered to join 200 online trade meetings with RoK suppliers.

The event provided Vietnamese businesses with a wide choice of quality RoK products. Many Vietnamese companies have shifted to importing goods from the RoK. Businesses of both countries have provided mutual assistance through product prices, transportation costs, free sample products and other incentives, aiming to help each other recover quickly and increase trade after Covid-19.

KOTRA Hanoi changed its method of business connection events due to Covid-19. How do you assess the effectiveness of these online trade events?

When Covid-19 broke out in the early months of 2020, we transformed all offline meetings between Vietnamese and RoK firms into online events to prevent trade disruptions.

diverse activities underway to connect vietnamese rok business

KOTRA Hanoi provides Vietnamese and RoK businesses with free interpretation at trade events

The shift required greater efforts. We have set clear targets and increased the frequency of trade events. We assist RoK companies in transporting sample products to Vietnam and help Vietnamese businesses seek RoK suppliers. Notably, KOTRA Hanoi has established the K Studio digital trade center to create videos introducing RoK businesses and products and post them on mass media.

We have increased the frequency of online trade events recently given their high effectiveness in the context of travel restrictions due to Covid-19. In 2021, nearly 900 RoK firms contacted more than 1,000 Vietnamese buyers through 1,910 online trade events. The results were just as good as those of the pre-pandemic period.

Online trade has proven a suitable solution in the current context. Will KOTRA Hanoi have any additional support for businesses?

Apart from online/offline trade events between Vietnamese and RoK companies, KOTRA Hanoi will carry out various activities to support businesses in realizing cooperation opportunities.

diverse activities underway to connect vietnamese rok business

Trade events attract Vietnamese and RoK companies

Specifically, KOTRA Hanoi will continue disseminating information about the price, packaging and quality of products, as well as regulations/certifications related to product quality of each country. We will guide businesses to prepare import, export contracts; provide them with consultancy on import, export procedures for each product; and deal on a timely basis with disputes (if any).

Viet Nga