The trade deal, known as VKFTA, will bring tons of opportunities for Vietnamese shrimp companies as their exports to South Korea will be tax free.
This is considered as a significant competitive advantage for Vietnamese exporters, reports VASEP.
South Korea confirmed that each year, 10,000 MT of Vietnamese shrimp will be tax free, against the current quota of 2,500 MT/year. In the next five years, this will be gradually raised to 15,000 MT/year.
Agriculture, forestry and fisheries products from Viet Nam will all benefit from this FTA.