Vietnam ranks third in exporting mango to Republic of South Korea

Published May 2, 2023

Tridge summary

Vietnam is the third largest supplier of mangoes to South Korea, but only accounts for 5.8% of the country's total imports. The Import - Export Department of Vietnam's Ministry of Industry and Trade believes there is potential for growth and suggests that Vietnamese exporters should utilize the Vietnam - Korea FTA to increase exports. However, factors such as inflation and rising interest rates in South Korea could impact exports. The Vietnam Trade Office in South Korea recommends that Vietnamese businesses focus on meeting South Korea's Sanitary and Phytosanitary Standards and strengthen cooperation with Korean distribution corporations to increase sales opportunities. Other strategies include promoting products on major Korean e-commerce sites, participating in trade fairs, and attracting Korean businesses to invest in agricultural production for export to South Korea.

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Original content

ABO/NDO- Vietnam is the third largest mango supplier for the Republic of Korea (RoK) in the world, but the imports from Vietnam only account for 5.8% of the Asian country's total, the Import - Export Department under the Ministry of Industry and Trade has reported. According to the department, there is an ample room for Vietnamese firms to promote their export of the fruit to the RoK in the coming time. It represents Vietnamese exporters to fully tap advantages by the Vietnam - Korea FTA (VKFTA) to boost exports to the country. Citing data from the Korea International Trade Association (KITA), the department said that the RoK's mango import from Vietnam in the first three months of 2023 reached 8,000 tonnes worth 36.4 million USD, down 18% in volume and 19% in value over the same period last year. According to the Vietnam Trade Office in the RoK, in 2023, a number of factors will continue to affect Vietnam's exports to the country because the Korean economy faces huge inflationary ...

Source: Baoapbac