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Tuesday, June 25, 2024

Vietnam becomes S.Korea’s third largest rubber supplier

The Saigon Times

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HCMC – Vietnam exported 8,220 tons of rubber worth US$15.3 million to South Korea in the first two months of 2022, up 10.4% and 7.9%, respectively, year-on-year, making the former the third largest rubber supplier of the latter.

Vietnamese rubber imports accounted for 9.8% of South Korea’s total rubber import volume, rising against the 8.8% figure seen during the same period last year, according to the Export-import Department under the Ministry of Industry and Trade.

The department cited statistics from the South Korean customs agency indicating that the country imported 84,200 tons of rubber, mainly from Thailand, Indonesia, Vietnam, China and Japan, between January and February.

In related news, Vietnam and South Korea have set a target of bilateral trade at US$100 billion in 2023 and US$150 billion in 2030, the local media reported.

Speaking on the phone with South Korean president-elect Yoon Suk-yeol on March 23, Vietnamese President Nguyen Xuan Phuc highly valued the major achievements in the partnership between the two countries over the past 30 years.

The South Korean president said South Korea appreciated its bilateral ties with Vietnam and expected the two countries to continue boosting the strategic partnership.

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