Economy

Vietnam to export rice to South Korea

  •  Monday, January 20, 2020

The Ministry of Industry and Trade (MoIT) announced that Vietnam and South Korea had signed an export agreement of all types of rice grown by the former to the latter with a quota of more than 55,000 tons for Vietnam only.

South Korea is a new market for Vietnamese rice this year.
South Korea is a new market for Vietnamese rice this year.

According to the MoIT, in the framework of bilateral consultations with the Republic of Korea on the tariff of rice products under the WTO, Vietnam signed with Korea - in the multilateral agreement between Korea and five WTO partners, including Australia, the US, China, Thailand and Vietnam - on the allocation of tariff quotas and bilateral correspondence between Vietnam and Korea on allocation of tariff quotas.

Accordingly, starting from January 1 this year, besides allocating a quota of 20,000 tons of rice to all the members of the WTO, South Korea gives a quota of 55,112 tons of rice for Vietnam only.

According to the Import-Export Department under the MoIT, the quota allocated for Vietnam includes all rice varieties that the country are able to grow and export. South Korea will ensure to apply a quota allocation mechanism in accordance with the regulations of the WTO and will not cause import restriction effects. The Ministry of Agriculture, Food and Rural Affairs of South Korea will conduct annual auction in the form of competition to import the private quota of Vietnam as well as from other countries which have already been allocated.

To make use of the opportunities to access the Korean market via this agreement, contributing to increasing export turnover of rice, the Import-Export Department has sent an official dispatch to provinces and municipalities and the Vietnam Food Association for them to timely inform rice exporters about this information.

SGGP

Other news

Yen Bai maintains 13 recognized craft villages

The group of handicraft production industries includes 3 craft villages and 1 traditional craft that Yen Bai focuses on maintaining and developing.

In 2025, Yen Bai will continue to preserve, maintain, and develop 13 craft villages and 2 traditional crafts recognized by the People's Committee of Yen Bai province, focusing on 4 industry groups.

Yen Bai Develops Sustainable Agriculture

Residents of the specialized farming area in Tuy Loc Commune, Yen Bai City, are quickly restoring production after the damage caused by Typhoon No. 3.

Yen Bai has been implementing various solutions to build a sustainable agricultural sector that adapts to climate change.

Van Chan Strives for 100% Disbursement of National Target Program Funds

Residents of Ta Lanh Village, Nam Lanh Commune, actively engage in economic activities, striving for sustainable poverty alleviation.

With a proactive and comprehensive approach, Van Chan district is committed to effectively implementing the National Target Programs (NTPs) and socio-economic development projects.

Yen Bai Strives for the Recognition of Four New Craft Villages in 2025

The gemstone painting craft in Yen The town, Luc Yen district, has provided stable income and employment for many local workers.

In 2025, Yen Bai aims to recognize four new craft villages, including one in the city, one in Tran Yen, one in Van Chan, and one in Van Yen.

News by days:
In: This category All categories
 
VIDEO