South Korea takes center stage at Vietnam Foodexpo 2015

TAGGED as the most effective bridge to the most exciting food market in the Asia-Pacific region, the Vietnam International Food Industry Exhibition 2015 has named South Korea as its Country of Honour this year.  

The event, more commonly known as Vietnam Foodexpo 2015, is the first and only country-wide food industry exhibition sponsored by the government as National Trade Promotion Program. The four-day exhibition is organized by the Viet Nam trade Promotion Agency in association with the Korea Trade Investment Promotion Agency, Japan External Trade Organisation, and other government agencies.

Trade with South Korea, in particular, continues on an upward trend, and healthy bilateral relations between these countries will be emphasised at this year’s food expo. Figures from the General Department of Vietnam Customs show that bilateral trade value between the two countries achieved an average (annual) growth rate of 25.38% between 2010 and 2014, to reach US$114,132 million. From 2009 to 2010, two-way trade turnover soared 49% to reach $12.9 billion, whilst in 2013, the number jumped to $27.3 billion, an increase of 29.5% compared to $21.1 billion in 2012.

Moreover, the two countries are now in the final stages of negotiation to reach bilateral free trade agreement, which will remove import tariffs for over 90% of products. By 2020, the FTA is expected to triple bilateral trade between these countries, to achieve $70 billion.

Vietnam Foodexpo 2015 takes place from 13–16 May 2015 at the Saigon Exhibition and Convention Center in Ho Chi Minh City. Organizers expect the participation of 300 exhibitors from 15 countries and territories and 30 local cities and provinces.  The show covers the following segments: fine food, food ingredients, fresh produce, poultry and meat, seafood, beverages, confectionery, dairy, health foods, as well as retail and franchise.