Korean Y-Mart Company surveyed some export items of Nghe An

Overview of the working session. Photo: Thanh Phuc

On the morning of October 26, the Department of Industry and Trade had a meeting with the Korean Y-Mart Company. Attending the meeting were Mr. Na Byeong Su - Representative of Y-Mart Company; Mr. Pham Van Hoa - Director of the Department of Industry and Trade; representatives of relevant departments and branches, and 15 enterprises in the province.

According to statistics, the total two-way import-export turnover in the first 9 months of 2022 betweenNghe An and Koreareached 388.9 million USD, an increase of 14.3% over the same period in 2021. Of which, export turnover reached 219.5 million USD, accounting for 13% of the province's total export turnover of goods, ranking 3rd after the Chinese and Hong Kong markets.

Representative of Y-Mart Company speaking at the meeting. Photo: Thanh Phuc

Up to now, Nghe An province has had more than 54 enterprises participating in exporting to the Korean market with 8 main groups of products, including: Textiles; Electronic components; Electric wires and cables; Textile and footwear materials; Stone products of all kinds; Packaging; Processed fruits; Pine resin, pine incense;...

Recently,Department of Industry and TradeThere have been many solutions to support businesses to boost exports to the Korean market such as: Organizing a meeting between the Vietnamese Trade Counselor in Korea and import-export enterprises of Nghe An province; providing information about the Korean market; Providing information on conditions and technical barriers of Korea for businesses...

Mr. Pham Van Hoa - Director of the Department of Industry and Trade gave general information about Nghe An's strong products. Photo: Thanh Phuc

Speaking at the meeting, Mr. Pham Van Hoa - Director of the Department of Industry and Trade emphasized: Korea is one of the important and potential markets for Nghe An's export enterprises in recent years. The signing of the ASEAN-Korea Free Trade Agreement as well as the Vietnam-Korea Bilateral Trade Agreement has created a legal framework to promote trade activities between the two countries.

Therefore, in the coming time, with the aim of promoting trade relations, the Department of Industry and Trade proposesY-Mart CompanyWith a system of 107 retail supermarkets in Korea, we will grasp information about Nghe An's strong products, from there research cooperation, implement technical standards and distribute Nghe An's products at Y-Mart supermarkets.

Nghe An Seafood Joint Stock Company informs about traditional fish sauce products. Photo: Thanh Phuc

At the same time, support connecting with investors to cooperate in areas where the province has potential and advantages: Agriculture and aquatic products, textiles, processed foods, fish sauce, honey, rattan and bamboo products, turmeric starch, cassava flour, etc.

At the meeting, representatives of Nghe An production and trading enterprises introduced their strengths; production processes; prices and competitive advantages of products... for Y-Mart Company to grasp, research, and proceed to sign commercial agreements and contracts.

Survey of actual production at Hong Son Production and Trading Company Limited in Nghi Lam Commune (Nghi Loc). Photo: Thanh Phuc

Previously, the delegation surveyed the actual production at Hong Son Production and Trading Company Limited, specializing in the production of wooden kitchen art products.