September 15, 2017, 12:23

Author: Xiao Bo

The Korea Iron & Steel Association (KOSA) is seeking solutions to lift its domestic steel industry out of difficulties by deepening cooperation with Vietnam.

KOSA stated on September 11 that it held steel industry-related talks with the Indonesian Iron and Steel Association on September 4. On September 8, it convened the first Korea-Vietnam Steel Dialogue with Vietnam.

It is reported that during the dialogue between KOSA and Vietnam's steel industry, Vietnam pledged to strive to meet KOSA's request to shorten the approval period for Vietnam's imports of Korean color-coated steel sheets. Reports noted that Vietnam agreed to the proposal of resolving trade issues through dialogue. Meanwhile, the two sides signed a Memorandum of Understanding on Strengthening Cooperation and agreed to hold the second round of dialogue in Seoul next year.

At present, Vietnam has grown into the largest steel market in the Association of Southeast Asian Nations (ASEAN), and ASEAN, where Vietnam is a member, is expected to become the world's 7th largest economy by 2030.

Editor: Zeng Qiaoqiao

Source: China Metallurgical News - China Steel News Network