Of the 7 countries that have ratified the CPTPP agreement, Japan, Canada and Mexico were the three markets currently in the top 10 of the largest tuna importer of Vietnam, other markets were small importers of Vietnamese tuna. According to the statistics of Vietnam Customs, total tuna export value of Vietnam to countries in CPTPP accounted for 12% of total tuna export value of Vietnam in 2018.
According to the commitment, countries participating in CPTPP commit to completely eliminate 97% to 100% of import tariff lines for goods originating from Vietnam, depending on the commitment of each country. Nearly all of Vietnam's goods, including seafood exported other CPTPP countries, shall be fully eliminated tax when the Agreement comes into effect or according to tax roadmap reduction. Specifically, Vietnam's tuna products exported to CPTPP countries are entitled as follows:
Australia: Tax imposed on tuna products shall be reduced to 0% as soon as the agreement comes into effect (basic tax rate of 0%, except for processed striped tuna HS160414 reduce from 5% to 0%)
Canada: Tax imposed on tuna products is 0% as soon as the agreement comes into effect (basic tax rate is 0%)
Chile: Taxes on tuna products are reduced from 6% to 0% as soon as the agreement comes into effect.
Mexico: Tax rates for products of loin/fillet frozen tuna HS code 0304 shall be reduced by the 3-year roadmap, from the base rate of 20% to 0%. In addition, processed canned tuna products with HS code 16 shall reduce tariffs according to a 16-year schedule, in which the tax rate shall be kept at the base rate of 20% from the first year to the 5th year and shall be completely eliminated for 11 years from the 6th year. It means that the goods shall be tax free from January 1 of year 16th.
New Zealand: The tax imposed on tuna products shall be reduced to 0% right away the agreement took effect.
Japan: Taxes imposed on fresh/live/frozen tuna (except for bigeye tuna) and canned tuna products (except for loin/fillet tuna HS030487) shall be reduced to 0% as soon as the agreement is effective. Particularly for bigeye tuna, the 3.5% tax rate shall be eliminated in the 11-year period starting from the date of this Agreement took effect for Japan, and shall be exempted from April 1 of the year 11th. Products of loin/ fillet tuna HS code 030487, 3.5% of tax rate shall be removed annually for an 8-year period starting from the date of this Agreement comes into force for Japan, these goods shall be exempt from tax since April 1 of year 8th.
For the most part, when CPTPP takes effect, Vietnam's tuna products exported to Japan, Mexico and Chile have many opportunities. However, there are also a lot of competition in these market. If businesses are not actively access, they cannot take advantage this opportuinity. Besides, markets like Japan and Mexico are also countries where domestic culturing tuna and fishing industry are very developed, so the market share for tuna import products might not be much.
(seafood.vasep.com.vn) The purchase price of raw pangasius in the first 11 months of 2024 remained at 26,000-27,000 VND/kg. However, farmers faced challenges in earning profits due to rising costs of fish feed, fuel, and labor during the year.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (FIMEX) recently announced its production and business results for November 2024, showing a 5% year-over-year increase in revenue but a 21% decline compared to the previous month.
(seafood.vasep.com.vn) Soc Trang province underscores the critical role of the fisheries sector in driving its socio-economic development. Located along Vietnam's coastline, the province features 72 km of shoreline, three major estuaries—Dinh An, Tran De, and My Thanh—and a dense river network encompassing diverse ecosystems, including saltwater, brackish, and freshwater. These natural resources provide ideal conditions for the growth of aquaculture, making the fisheries sector a cornerstone of Soc Trang’s economic strategy.
(seafood.vasep.com.vn) In 2024, the pangasius industry in Dong Thap is projected to achieve a production value of VND 8.802 billion, marking a 2.86% increase compared to 2023 and accounting for over 17% of the province's total agricultural, forestry, and fishery production value.
(seafood.vasep.com.vn) Vietnam's tuna exports to Japan have seen robust growth over the past two months. Data from Vietnam Customs shows that in October 2024 alone, tuna exports to Japan surged by 31% year-on-year, reaching nearly USD 3.5 million. This growth has offset the decline experienced in the first half of the year, raising the total export value for the first ten months of 2024 to nearly USD 28 million, a 5% increase compared to the same period last year.
A business forum was held by the Dutch Embassy in Vietnam in collaboration with the Ministry of Agriculture and Rural Development (MARD) in the Mekong Delta city of Can Tho on November 27, seeking ways for sustainable aquaculture in the region.
(seafood.vasep.com.vn) On November 18, Ms. Truong Ha Phuong Anh, Director of the Center for Investment Promotion and Business Support (iPEC), stated that during the Ca Mau Province Agricultural and Aquatic Products Trade Promotion Conference 2024, held on November 15, there were 209 direct trade interactions between 42 seafood processing and exporting enterprises, OCOP producers in the province, and five leading domestic retail companies: Central Retail, Saigon Co.op, Kingfood Mart, Bach Hoa Xanh, and Satra Supermarket.
In 2024, the Binh Dinh Agricultural Extension Center successfully implemented a semi-intensive and intensive two-stage whiteleg shrimp farming model using Semi-Biofloc technology.
(seafood.vasep.com.vn) Recently, the area dedicated to super-intensive, high-density whiteleg shrimp farming in Trà Vinh Province has been rapidly expanding due to its high productivity and economic efficiency.
(seafood.vasep.com.vn) In collaboration with provincial authorities, specialized agencies, and local coastal governments, seafood processing and export enterprises in Binh Dinh Province are actively working to address issues related to illegal, unreported, and unregulated (IUU) fishing. The shared goal is to have the European Union's "yellow card" removed this year.
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