Korea awaits ratification of Vietnam FTA

摘要

South Korean steelmakers are certain to benefit from the removal of duties on their exports to Vietnam when the two governments ratify a free trade agreement signed back in May. Currently, Vietnam imposes import duties of 5-7% on Korean steel products such as hot and cold rolled coils, galvanized sheet and long products, but these will be immediately removed when the FTA is ratified, according to an official from the Korea Trade-Investment Promotion Agency (KOTRA) in Seoul.