Harvesting 2023-2024 winter-spring rice crop in northern province of Thai Binh (Photo: VNA)

According to a MAFRA’s report, Vietnam is gradually emerging as an important market for Korean agricultural equipment and materials export, importing 1.02 billion USD worth of those products from the RoK by the end of 2023. Despite experiencing difficulties due to the global economic downturn, fertiliser and pesticide exports showed an upward trend, with export turnover increasing by more than 33% compared to the previous year.

The Korean delegation is scheduled to engage in an export consultation conference with 30 Vietnamese import companies on August 27.

They will also visit the Ministry of Agriculture and Rural Development of Vietnam to learn about the current situation of the country's agriculture and related policies, regulations and details related to agricultural equipment certification, including import customs procedures for each item. The delegation is expected to propose cooperation so that procedures such as registration and licensing for products exported to Vietnam can be carried out quickly.

Director-General Lee Sang-man of the MAFRA's Agri-Food Innovation Policy Bureau said that by sending the market development team to create sales channels such as overseas fairs, buyer connections and export consultation meetings, the RoK hopes that its agricultural equipment companies will be able to strengthen the foundation for penetrating the Vietnamese market and expanding exports.

Since 2018, the MAFRA has sent a market development team to countries every year to explore opportunities for Korean agricultural equipment exporters to develop overseas markets and expand exports, study the needs of local localities through consultation with local authorities, while providing export consultation and market research support, he added.