(seafood.vasep.com.vn) Vietnam is in a negotiation on a Free Trade Agreement (FTA) with the South American Common Market (Mercosur) in order to penetrate Latin America market.
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Brazil is currently Vietnam and Southeast Asia's largest trading partner in the Mercosur.
According to Vietnam Customs, in the first half of June 2024, pangasius exports to Brazil reached 4 million USD, up 5% over the same period last year. Cumulative exports in the first 5 months of 2024 reached 50 million USD, up 47% over the same period in 2023. Export turnover peaked in January 2024 with nearly 14 million USD, up 83% over the same period. However, pangasius exports in February decreased by 6%, reaching nearly 6 million USD.
Since January, Brazil has only imported frozen fillet pangasius from Vietnam with HS code 03046200. Hung Ca 2 is the largest supplier to this market in the first 5 months of 2024, accounting for 19% of the exported value.