Vietnam-RoK two-way trade reaches 9.2 bln USD

Two-way trade between Vietnam and the Republic of Korea (RoK) reached 9.2 billion USD between January and November of 2008, an increase of 44 percent from a year earlier.

The trade ties between the two countries developed robustly since the establishment of Vietnam-RoK diplomatic relations in 1992 with the trade value recorded an annual average growth rate of 24.2 percent in the 1992-2008 period.

Despite the global economic and financial crisis, Vietnam exported to the RoK nearly 2 billion USD worth of goods in the January-November period, a year-on-year increase of 49. 5 percent while importing from the RoK over 7 billion USD worth of goods.

Vietnamese and RoK economists said that the two countries should take proper measures to narrow Vietnam’s trade deficit with RoK, which made up 30-45 percent of Vietnam’s total trade deficit.

VNA

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