13 September 2023 | News
Bolstering the reliability of Korean cosmetic products to facilitate exports to the Vietnamese market
Image credit: shutterstock
The Ministry of Food and Drug Safety (MFDS), South Korea is holding a bilateral collaboration meeting with the Drug Administration of Vietnam (DAV), a regulatory authority under the Ministry of Health to support cosmetics exports.
This collaboration meeting follows the "Action Plan to Implement Comprehensive Strategic Partnership" made during President Yoon's visit to Vietnam last June. It aims to expand collaboration on drugs and medical devices with the Ministry of Health of Vietnam into the cosmetic sector.
Korea exports the largest quantity of cosmetic products to Vietnam among the Southeast Asian countries, and Vietnam ranks as the 5th largest country in terms of volume for Korean cosmetics exports. Recently, the export volume to the Vietnamese market has seen rapid growth, making it increasingly important as a bridgehead for diverse exports.
MFDS has proactively gathered feedback and challenges faced by companies through Ministerial visits and participation in industry meetings to facilitate the export of Korean cosmetic products to the Vietnamese market. During the upcoming collaboration meeting, suggestions will be made to ease export procedures, such as dossier requirements for the Vietnamese regulatory authority, and to establish regular meetings between MFDS and DAV.