KOTRA intensifies efforts to facilitate Vietnam-RoK trade

10:00 | 10/05/2021 Cooperation

(VEN) - Lee Jong Seob, president of the Korea Trade-Investment Promotion Agency (KOTRA) in Southeast Asia and Oceania cum general director of KOTRA Hanoi, told reporter Van Vu of Vietnam Economic News that greater efforts were underway to ensure trade growth between Vietnam and the Republic of Korea (RoK).

kotra intensifies efforts to facilitate vietnam rok trade
Lee Jong Seob, president of the Korea Trade-Investment Promotion Agency

KOTRA has made efforts to organize many trade promotion activities despite the Covid-19 pandemic. Could you elaborate on these efforts?

As an RoK government agency leading the way in overseas trade promotion activities, KOTRA has done its best since the beginning of 2020 to ensure there is no interruption in Vietnam-RoK trade in the context of the Covid-19 pandemic. KOTRA has thoroughly applied online trading, quickly met the needs of any Vietnamese businesses looking for reputable RoK suppliers, arranged online work schedules and provided interpretation services. Vietnamese businesses do not have to pay for all of these support activities.

In 2020, KOTRA Hanoi held more than 50 online trading events, helping more than 1,200 RoK companies to connect with nearly 1,000 Vietnamese businesses, conducting about 1,800 effective trade exchanges.

KOTRA Hanoi established the K-STUDIO Digital Trade Center in February 2021. How does the center operate? What are initial results?

K-STUDIO Digital Trade Center is located at the office of KOTRA Hanoi. The center provides live recordings introducing the details of RoK companies and high-quality products from each province and city in the RoK. Vietnamese businesses interested in the above products will contact us and will be quickly connected to work online with RoK suppliers. All support activities for Vietnamese businesses are free of charge.

Since the launch of K-STUDIO, KOTRA has supported two RoK business delegations with nearly 60 companies from Incheon, Daegu, Gyeongbuk, Chungbuk and Ulsan, partnering with more than 120 Vietnamese businesses. The agency has focused on giving priority to RoK companies exporting to Vietnam for the first time and supporting Vietnamese businesses importing from the RoK for the first time.

What are KOTRA Hanoi’s plans to implement trade promotion activities this year?

The agency will conduct more than 60 online trading events with nearly 2,000 online transactions between RoK suppliers and Vietnamese buyers in 2021. In addition, the agency is taking part in three large-scale exhibitions in Hanoi - Vietnam Expo 2021, Vietnam Medipharm and VIIF 2021.

The agency will continue to build new projects to facilitate trade for potential RoK products in Vietnam.

kotra intensifies efforts to facilitate vietnam rok trade
KOTRA Hanoi supports Vietnamese businesses in online trading with RoK companies at the Vietnam Expo 2021

At Vietnam Expo 2021 in April, KOTRA ran a national RoK area bringing together more than 50 reputable RoK companies with many high-quality products. At the event, the agency also provided support for businesses to implement online trading with RoK companies.

What are your recommendations?

The agency has been working closely with Vietnam’s Ministry of Industry and Trade and the Vietnam Chamber of Commerce and Industry (VCCI) in the implementation of trade promotion activities between the two business communities.

We hope that the Vietnamese authorities will continue to adopt and implement appropriate policies to ensure the completion of the government’s dual task of fighting the Covid-19 pandemic and promoting socioeconomic development.

Van Vu