RoK fashion firms expected to benefit from EVFTA: KITA
Under the agreement, clothes producers based in Vietnam can enjoy the benefit of the latest free trade agreement for goods made with materials of the RoK, the Korea International Trade Association (KITA) said in its report.
The RoK implemented its own FTA with the EU in 2015.
Vietnam’s imports of the RoK’s materials to produce clothes reached 1.7 billion USD in 2019, accounting for 11.5 percent of the total.
KITA said exports of the RoK’s materials to the Vietnam may also increase down the road on the back of the EVFTA.
According to the association, the EVFTA is expected to increase demand for Vietnamese clothes in Europe as well.
Vietnam was the third-largest export destination for the RoK – Asia’s No. 4 economy – in 2019./.
CPV/VNA
RELATED NEWS
- Aquatic exports to EU to enjoy zero tax once EVFTA takes effect
- More Italian firms invest in Vietnamese textile industry
- Vietnam seafood perfectly well placed to benefit from EVFTA
- Vietnam-UK trade to benefit from EVFTA: Official
- Vietnam ratifies EU free trade agreement
- Vietnamese exporters struggle with rising material prices
- EVFTA: Vietnamese goods to face stiff competition
- Positive export figures after two months of EVFTA being in effect
- Over 7200 certificates of origin issued for exports to EU under EVFTA
TAG:
Today, 07:31
Powerful quake kills thousands in Turkey and Syria 
