Businesses of the Republic of Korea should boost the export of consumer products to Vietnam to maintain the current export growth in this market, according to a report by the Korea International Trade Association (KITA) released on November 24.
Seoul (VNA) – Businesses of the Republic of Korea should boost the exportof consumer products to Vietnam to maintain the current export growth in thismarket, according to a report by the Korea International Trade Association(KITA) released on November 24.
The report stated that the Vietnamese Government’s policy on promoting domesticconsumption may create opportunities for RoK businesses. It also predicted the spendingrate of Vietnam in 2017 will increase 11.5 percent against this year.
Acc🌺ording to the report, 2017 will witness a big change in Vietnam a🌠s local consumers’demand for high quality products is expected to soar, while the RoK’s export ofindustrial materials and components to Vietnam will drop due to a decline in Vietnam’sexports.
Vietnam iscurrently the third largest importer of the RoK. A previous report of KITAshowed that RoK exports to Vietnam hit 22.4 billion USD in 2015.-VNA
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A Lotte Mart in HCM City. (Photo: hcmc.vn) 
