According to the statistics of Vietnam Customs, EU is the second largest tuna importer of Vietnam in the past 10 years. Since 2015, after Vietnam and EU officially ended negotiations and the agreement was released on 1/2/2016, Vietnam's tuna exports to the EU increased continuously.
Currently Vietnam mainly exports frozen loin/fillet tuna and canned tuna to the EU market in the past 10 years. Before 2014, Vietnam's frozen tuna loin/filet tuna exports to the EU growed continously. However, it tended to fall continuously for 2 years and climbed again in 2017. For canned tuna products, it tended to rose continuously in the period before 2014, but then also went down continuously.
Germany, Italy and Spain were the three largest tuna importers of Vietnam in the EU. Germany imported a lot of canned processed tuna products, while Italy and Spain mainly imported fresh and frozen tuna products.
Vietnam's tuna products mainly compete with similar products from Ecuador, Philippines, Indonesia, Thailand and China. Vietnam is difficult to compete with other countries due to the catches, the scale and capacity of tuna production of these countries are higher than ours. In addition, it is difficult for Vietnam to compete with the Philippines and Ecuador because they enjoy preferential tariffs, while Vietnam is not entitled to incentives. Vietnam's seafood industry has been considered a "mature" threshold, i.e, a group of commodities with a relatively high export value to the EU in recent years. Therefore, from January 1, 2014, Vietnam have not enjoyed the offer anymore. Vietnamese tuna products are subject to a higher tax rate of 20.5%. This has reduced the competitiveness of Vietnamese tuna products in the EU market.
Under the EVFTA commitment, the EU shall remove tariffs on fresh and frozen tuna products (except for frozen tuna loin/fillet HS code 0304) as soon as the agreement comes into effect. For products of frozen tuna loin/fillet tuna HS code 030487, the EU shall eliminate tariffs for Vietnam under a 3-year schedule, from the basic tax rate of 18%, as soon as the agreement comes into effect. With the products of steamed tuna loin/fillet (raw material for canned tuna production), the EU shall abolish tariffs for Vietnam according to the 7-year schedule, from the basic tax rate of 24%. Particularly for canned tuna products (such as canned tuna in oil, in pouch, products of canned tuna family...), the EU shall exempt for these Vietnam products with the quota of 11,500 MT/year.
Thus, when EVFTA takes effect, it will be an advantage for Vietnamese tuna exporters in the long run. However, in the short term, businesses shall face many difficulties. Because this FTA includes a comprehensive chapter on trade and sustainable development, covering relevant labor and environmental issues in trade relations between the EU and Vietnam.
(seafood.vasep .com.vn) The return of Donald Trump to the White House for a second term will bring significant impacts on Vietnam, particularly its pangasius export sector. Trump's economic policies, such as raising import tariffs, reducing corporate income taxes, and attracting foreign direct investment (FDI) back to the US, are expected to directly influence various industries in Vietnam.
(seafood.vasep.com.vn) The UAE ranked 16th among importers of Vietnamese shrimp from 2018 to 2022, accounting for approximately 0.5% of Vietnam's total shrimp export value. Annually, Vietnam exported around US$20 million worth of shrimp to this market.
(seafood.vasep.com.vn) The company also announced that its farms are well-prepared and will begin stocking in mid-November when the weather conditions are favorable.
(seafood.vasep.com.vn) To maximize natural advantages and increase the value of local aquatic products, Ca Mau province is promoting the ecological shrimp farming model under mangrove forests. This model not only brings high profits to people thanks to businesses committing to purchasing products at prices 10-20% higher than the market price but also aims for sustainable development and environmental friendliness.
(seafood.vasep.com.vn) The Comprehensive Economic Partnership Agreement (CEPA) between Vietnam and the United Arab Emirates (UAE) was signed after just over a year of negotiations. With high demand for premium seafood in the UAE, particularly for shrimp and tuna products, Vietnam’s tuna industry is expected to gain increased export opportunities and higher product value thanks to the preferential terms of the CEPA.
(seafood.vasep.com.vn) In October 2024, seafood exports from Vietnam are estimated to exceed $1 billion, marking a 28% increase compared to the same period last year. This achievement signifies the first return to the $1 billion milestone in 27 months, since June 2022, providing a significant boost for Vietnamese seafood enterprises.
(seafood.vasep.com.vn) Under the theme "Dong Thap Pangasius: Green Journey - Green Value," the Dong Thap Pangasius Festival 2024 will take place over two days, November 16th and 17th, at Vo Nguyen Giap Square in Hong Ngu City.
(seafood.vasep.com.vn) The Department of Agriculture and Rural Development of Kien Giang has announced a plan to stabilize the biosafety rice-shrimp production area at 117,340 hectares by 2030.
(seafood.vasep.com.vn) According to the Department of Fisheries in Ca Mau, the total aquatic product output in the region is estimated at 536,140 tons as of October 17, achieving 82.23% of the annual plan and marking a 1.74% increase compared to the same period last year. Within this total, shrimp production stands at 208,495 tons, reaching 82.41% of the planned target and showing a 2.23% increase year-over-year.
(seafood.vasep.com.vn) According to data from Vietnam Customs, pangasius exports to Iraq have surged significantly in the first nine months of 2024, marking the highest levels seen in three years. This upward trend has positioned Iraq as a key market for Vietnamese pangasius, even surpassing Iran, traditionally regarded as a gateway for trade between Vietnam and the Middle East.
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