Following this move from E.U., Vietnamese lawmakers are expected to ratify the agreement in early summer, after which it will come into force, the council said in a statement on 30 March.
The European Parliament endorsed the deal with Vietnam on 12 February.
The agreement, the “most modern, comprehensive and ambitious agreement ever concluded between the E.U. and a developing country,” will abolish 99 percent of customs duties between the two sides over the next 10 years.
Once the deal comes into force, seafood exporters from the Southeast Asian nation will have “huge opportunities” to speed up exports to the E.U., the Directorate of Fisheries of Vietnam has said. About half of the import taxes on seafood products from Vietnam to the E.U. will be removed immediately after the agreement becomes effective, with the remainder eliminated within seven years from the effective date of the pact. The E.U., however, will give Vietnam annual quotas for duty-free imports of 11,500 metric tons (MT) of canned tuna and 500 MT of canned fish balls. Additional volumes beyond the quotas will be taxed, according to reports from the directorate and the Vietnamese Finance Ministry’s National Institute for Finance.
Shrimp and pangasius are the top two seafood products Vietnam exports to the E.U. According to Vietnam Association of Seafood Exporters and Producers (VASEP), the EVFTA is expected to help significantly boost the competitiveness of Vietnam’s seafood sector in E.U. markets.
Vietnam exported seafood products worth USD 143.7 million (EUR 133 million) to the E.U. in the first two months of this year, down 10.9 percent from January-February last year. The drop was largely due to the economic fallout of the coronavirus pandemic. The export value of shrimp fell 15 percent, while that of pangasius declined 40 percent year-on-year.
SSI forecasts a 28% year-on-year increase in after-tax profit attributable to the parent company of Vinh Hoan Corporation (VHC), driven by a gradual improvement in average selling prices from USD 3.15/kg in 2024 to USD 3.30/kg (+5%) in 2025. An Giang Fisheries Import-Export Joint Stock Company (ANV)'s after-tax profit attributable to the parent company is projected to rebound by 104%.
In 2025, the Mekong Delta province of Bac Lieu aims to earn 1.2 billion USD from exporting shrimp, one of the key export products that accounts for over 95% of its total export value.
(seafood.vasep.com.vn) The Report on Vietnam Pangasius Sector 2015–2024, produced and released by the Vietnam Association of Seafood Exporters and Producers (VASEP) in January 2025, is expected to provide enterprises, importers, and government agencies with a comprehensive overview of key developments in Vietnam's pangasius production and export over the past decade. In addition to highlighting achievements, the report identifies existing challenges and analyzes future opportunities and threats for the pangasius industry.
(vasep.com.vn) Overcoming two years of fluctuation in both export markets and domestic production, Vietnam's pangasius industry has demonstrated resilience, adaptability, and a strong determination to seize opportunities and boost exports to various markets. As a result, in 2024, pangasius exports reached USD 2 billion, a 9% increase compared to 2023. This achievement is a source of pride for Vietnam's aquaculture and agriculture sectors.
(seafood.vasep.com) Speaking at a conference to implement the 2025 plan of the Ministry of Agriculture and Rural Development, Prime Minister Pham Minh Chinh urged the agricultural sector to strive for a total export turnover of agricultural, forestry, and fishery products reaching $70 billion by 2025.
With robust production and processing infrastructure, combined with continuous market development efforts, Vietnam’s seafood exports are poised for 10–15% growth in 2025.
In 2025, seafood exports are expected to continue to grow better and could reach 11 billion USD as in 2022. However, this is also the year the seafood industry will face challenges, including increased competition from other countries, trade wars and market barriers...
(seafood.vasep.com.vn) On the afternoon of December 25, at Toan Thinh Conference Center (Soc Trang City), the Soc Trang Fisheries Sub-department, under the Department of Agriculture and Rural Development of Soc Trang, held a conference to review the 2024 aquaculture activities and outline the brackish water shrimp farming plan for 2025. The event was attended by Ms. Quach Thi Thanh Binh, Deputy Director of the Department of Agriculture and Rural Development of Soc Trang.
The Mekong Delta province of Soc Trang aims to achieve export value of over 1.9 billion USD in 2025 by boosting production and processing of key products such as seafood, high-quality rice, fruits, and garments.
The UK-Vietnam Free Trade Agreement has significantly boosted Vietnamese seafood exports, with shrimp and pangasius leading the charge in the UK market.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
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