Protocol amending Vietnam-S Korea customs pact comes into force

Signed last December, the amendment document will provide a legal basis for expanding customs clearance benefits for Korean firms to export goods to Vietnam, according the South Korean foreign affairs ministry.

Both sides had agreed in 2018 to consider amending the deal to reflect the changing trading environment, the upward trend in bilateral trade, and to boost support for exporters and importers.

The implementation of the protocol is likely to further fuel the recovery of trade with Vietnam and enhance the competitiveness of South Korean exporters and importers, a Vietnamese news agency reported citing an official of the ministry.

ALCHEMPro News Desk (DS)