Vietnam, S. Korea Enhance Fisheries Sector Ties

Vietnam and South Korea will boost cooperation in the field of fisheries following a research collaboration agreement signed between agencies of the two countries on December 11.

 

Under the agreement inked by the Vietnam Institute of Fisheries Economics and Planning and the National Federation of Fisheries Cooperation of South Korea, the two sides will increase researcher and publication exchange as well as boost joint study and research, while enhancing cross-visits and consultations.

 

Vietnam is expected to boost seafood exports to South Korea as the latter will offer duty-free import quotas to some ASEAN seafood products from next year. 

 

South Korea will offer annual duty-free import quotas to some seafood products of ASEAN member countries from January 1, 2007 when the ASEAN - South Korea Free Trade Area Agreement comes into effect.

 

The Korean National Fisheries Products Quality Inspection Service under the Ministry of Maritime Affairs and Fisheries recently licensed an additional 13 Vietnamese enterprises to export seafood products to the country, bringing the total number of qualified firms to 298.

 

Statistics released by the Vietnam General Department of Customs showed that Viet Nam's aquatic product exports to the RoK have so far this year risen by 21.8 percent, equivalent to around 200 million USD.

 

The Southeast Asian country plans to ship 25 per cent of total seafood exports to Japan, 23-25 per cent to the US, 20-22 per cent to the European Union, 7-9 per cent to China, including Hong Kong, and 8 per cent to South Korea in the next four years. (Vietnam & World Economy Dec 12 p2) Back to Top