Economy

Yen Bai province promotes trade with RoK

  •  Friday, April 19, 2024

YBO - Enterprises in Vietnam in general and Yen Bai province in particular are enhancing their trade cooperation with the Republic of Korea (RoK).

Nguyen Thi Khuyen, Director of Nasaki Vietnam Co., Ltd., introduces its tile products to foreign partners.
Nguyen Thi Khuyen, Director of Nasaki Vietnam Co., Ltd., introduces its tile products to foreign partners.

Currently, Yen Bai's exports are available in nearly 90 countries and territories across the world.

The potential for Yen Bai products remains big in the Korean market. However, its potential and strong exports available in the RoK are still limited in terms of types. Last year, the province’s export value to the Korean market was estimated at 23 million USD, accounting for 6.7% of its total export revenue. Main products were garments and textiles, wooden products and minerals.

According to economists, potential and advantageous products that Yen Bai can increase export to the RoK are garments and textiles, minerals (stone and stone powder), plastic products, wood and wooded products (wooden chopsticks and spoons, sawn timber, household equipment), agricultural products like tea and cassava, cinnamon and cinnamon products, and Nasaki coloured tiles.

Nguyen Dinh Chien, Deputy Director of the provincial Department of Industry and Trade, said that Yen Bai considers the RoK as a key market so the province has issued policies to encourage local businesses to seek ways to enter this market in accordance with its potential and advantages, goods quality requirements and other conditions of exported goods.

In addition, it has continued to create conditions for relevant State management agencies and enterprises to have opportunities to meet with and learn about Korean consumption habits and traditional culture to build appropriate export production and business strategies.

In early March, Do Duc Duy, member of the Party Central Committee, Secretary of the provincial Party Committee, led a delegation on a working visit to the RoK. This activity has contributed to strengthening the good relationship between the two countries in general, between Yen Bai and the RoK in particular as well as promoting the development of investment cooperation with Korean localities and businesses./.

Nguyen Thom

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