2015

Newsflash: Summary on a number of notable points of Vietnam – Korea Free Trade Agreement(“VKFTA”)

The negotiation officially commenced on 6 August 2012, after eight (08) rounds of formal
negotiations and eight (08) middle-term
meetings, talks at the level of Delegation head,
Vietnam and South Korea have agreed to the
entire contents and come together to sign the
Vietnam - Korea Free Trade Agreement
("VKFTA") on 5 May 2015.

The signing of VKFTA brings significant impacts
on the economy of the two countries, especially to
the enterprises. Vietnamese enterprises, thus,
learn how to enhance their competency and
competitiveness, having opportunities to expand
to the markets of the fields that South Korea are
strong at and Vietnam has strong demands.
Therefore, the enterprises must carefully analyse
the regulations as well as their own capabilities to
make business decisions and apply effectively in
practice.