• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

VietNam Breaking News

News from Vietnam

  • Home
  • Politics
  • Business
  • Society
  • Entertainment
  • Sports
  • Travel
  • Tech

Vietnam’s seafood exports to EU going swimmingly well

May 23, 2022 by ven.vn

vietnams seafood exports to eu going swimmingly well
Vietnam's seafood exports to the EU are expected to increase sharply in 2022

Preferential fishery product tariffs

The EVFTA, which took effect on August 1, 2020, has provided great opportunities for Vietnam's seafood exports to the EU thanks to a series of commitments on preferential tariffs.

Under the EVFTA, among about 220 tariff lines of fishery products with rates ranging from zero percent to 22 percent, most tariff lines in the high range of 6-22 percent were reduced to zero percent immediately after the trade deal took effect. The remaining tax lines will be phased out to zero after 3-7 years.

Shrimp is a major export benefitting from the new tariff scheme's zero-percent tax rate for 3-5 years, while tariffs on frozen tra fish have been reduced to zero percent for three years. Other seafood, such as oysters, scallops and octopus, also enjoy zero-percent tax rate. In addition, the Russia-Ukraine war and sanctions imposed on Russia have offered Vietnam with opportunities to gain white fish market share in the EU.

Le Hoang Tai, deputy director of the Vietnam Trade Promotion Agency under the Ministry of Industry and Trade, said Vietnam's seafood exports reached US$2.4 billion in the first quarter of the year, an increase of 40 percent compared to a year ago. After two consecutive years of decline, Vietnam's tra fish and shrimp exports to the EU surged by nearly 76 percent and 66 percent in the first two months of the year, reaching US$28 million and US$159 million, respectively.

vietnams seafood exports to eu going swimmingly well
Shrimp is a major export benefitting from the new tariff scheme

Vietnamese Trade Counselor in Sweden, Finland, Iceland and Latvia Nguyen Thi Hoang Thuy said shrimp is a major Vietnamese export to Northern Europe, while tra fish exports to the market remain modest. Due to geographical distance, Vietnam's seafood exports to Northern Europe must go through other European markets, such as the Netherlands, Germany, Belgium and France.

Attention to origin of seafood

Although demand for seafood originating from Vietnam and selling prices are on the rise, Vietnamese businesses need to pay greater attention to providing clear, transparent, honest and accurate certificates.

Sustainable fishery is an emerging trend in the EU, imposing higher socially and environmentally responsible seafood imports.

Thuy highlighted the importance of quality control and rules of origin for Vietnamese products given the growing attention of EU consumers to health and origin of imported food. She urged Vietnamese businesses to label their products with accurate information and focus more on branding and developing products based on consumption trends.

Vietnam's seafood exports to the EU are expected to increase sharply in 2022, especially those of shrimp and tra fish.

Thu Phuong

  • EU trade pact with Vietnam close to finish line
  • Vietnam and European Union sign free trade agreement
  • What is making the power struggle for EU top jobs so complicated
  • EU bets on digitalisation to fight illegal fishing
  • China's exporters fret over Trump tariffs
  • Vietnam and EU sign 'milestone' free trade agreement
  • Vietnam garment makers face hitches in lucrative EU trade deal
  • Vietnam and EU sign free trade agreement
  • Seafood industry seeks answers on post-Brexit trade
  • Kazakhs say it is time for closer ties with EU
  • Big jump in Irish firms targeting Asia for exports
  • Ireland threatens to vote against EU-Mercosur deal
Vietnam’s seafood exports to EU going swimmingly well have 536 words, post on ven.vn at May 23, 2022. This is cached page on VietNam Breaking News. If you want remove this page, please contact us.

Filed Under: EVFTA EVFTA, seafood exports, seafood exporters association of india, seafood exports india, seafood exports in chennai, britto seafood exports pvt ltd, seafood exporters, Vietnam Seafood Exporters, seafood export business plan, seafood export company, seafood exporters in bhimavaram, seafood exporters in chennai, vietnam seafood export

Primary Sidebar

RSS Recent Stories

  • Bamboo handicraft of Tay ethnic minority people in Quang Trong
  • Signal Station A69’s fallen troops commemorated
  • Vietnam wins high prizes at the international photo contest
  • Pacific Rim trade deal boosts Vietnam’s economy
  • Tien Giang’s export turnover up 18.5% in H1
  • Cabinet meeting looks into socio-economic situation

Sponsored Links

  • Major crash led to suspension of its Tesla Model 3 by taxi company
  • After Tesla, SpaceX workers come forward to speak on sexual harassment
  • Wi-Fi range extender to strengthen network coverage and internet speeds
  • apple: How to capture screenshot on Apple iPhone just by tapping back panel
  • EU Parliament backs tough new rules to rein in US tech giants
  • Carville: ‘Strap in People’ — January 6 Probe Will Expose Trump Was Behind a ‘Massive Criminal Act’
  • Warren: SCOTUS ‘Has Lost the Respect of the American People’ — We Need More Justices
  • Summers: Combatting Inflation Will ‘Require Substantially More’ Than What Fed Is Doing
  • Bratton: Lax District Attorneys, ‘Most of Them Funded by George Soros’ ‘Are Destroying the Criminal Justice System’
  • WATCH: Sheriff’s Deputies in Maryland Rescue Woman from Frigid Waters
Copyright © 2022 VietNam Breaking News. Power by Wordpress.
Home - About Us - Contact Us - Disclaimers - DMCA - Privacy Policy - Submit your story