The ASEAN-Australia- New Zealand Free Trade Agreement (AANZFTA), which took effect from January 1, 2010, plays a key role in enhancing economic relations, trade and investment between ASEAN and Australia and New Zealand, Nam said.
Within the agreement framework, ASEAN countries can enjoy 90 to 100 per cent tariff reductions in Australian and New Zealand markets, and Vietnamese firms should take full advantage of this potential, he said.
He noted that Australia and New Zealand were among the biggest importers in the world since both economies are largely dependent on imported products.
Vietnam’s chief exports to these two markets include agricultural products, seafood, coffee beans, cashews, electronics parts, textiles, footwear and construction material.
If the AANZFTA was utilized well, Vietnamese producers could enjoy all the privileges contained therein, boosting export turnover and earning handsome profits, Nam said.
Statistics from the Ministry of Industry and Trade showed that trade between Vietnam and Australia hit 5.26 billion USD in 2016, up 6.5 percent year-on-year. Particularly, Vietnam enjoyed trade surplus of 480 million USD with Australia in the year.
According to Phan Thi Dieu Linh, expert from the Department of Asia-Pacific Market, although Australian consumers are favoured of locals products, they are still open with imported ones, which have high quality, good looking and rational prices. This factor also facilitates Vietnamese exports, she underlined.
Meanwhile, Trinh Thi Thu Hien from the Foreign Trade Agency under the Ministry of Industry and Trade, stated that there is large room for Vietnamese shipments to Australia as export revenue is still humble, standing at 1.6 percent of total export values in Australia.
Hien said that the AANZFTA is being carried out in the context of deeper regional and global integration which supports the development in Vietnam-Australia and New Zealand relations. Domestic businesses should apply international standards to meet increasing demands of foreign customers and become more competitive with foreign rivals, she highlighted.
VNA
(seafood.vasep.com.vn) The US remains Vietnam’s largest single market for shrimp imports, accounting for 20% of Vietnam's total shrimp exports globally. As of October 15th, 2024, Vietnamese shrimp exports to the US reached nearly 600 million dollas, marking a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) According to Vietnam Customs, pangasius exports to Canada reached over 1 million USD in the first half of October 2024, a 33% decrease compared to the same period last year. However, by October 15, 2024, total pangasius exports to Canada had reached 32 million USD, reflecting a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) Cà Mau is accelerating its digital transformation, developing green industries, and promoting high-tech processing of agricultural and aquatic products, with a focus on sustainable economic growth and environmental protection.
(seafood.vasep.com.vn) The Dong Thap Pangasius Festival 2024, themed 'Dong Thap Pangasius: Green Journey - Green Value', will take place on November 16-17 in Hong Ngu City.
The positive business momentum in the domestic seafood sector could last into the first half of 2025, according to experts.
(seafood.vasep.com.vn) In the first three quarters of 2024, brackish water shrimp production exceeded 1.1 million tons, with export revenue reaching $2.8 billion. The seafood industry has set a target of $4 billion for shrimp exports for the entire year.
While the price of 1 kg of shrimp hovers around 20 USD, the value of 1 kg of chitosan—extracted from shrimp—can soar to 500 USD. This highlights a significant challenge within the seafood processing industry.
(seafood.vasep.com.vn) By October, Vietnam's shrimp exports had generated nearly $3 billion, reflecting an increase of over 10% compared to the same period last year. Shrimp remains the leading commodity contributing to the export turnover of the entire seafood industry.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (FIMEX VN - HoSE: FMC) concluded Q3/2024 with significant growth in revenue. Specifically, Sao Ta Food recorded revenue of VND 2,845 billion, a 58.6% increase year-on-year. The company's profit after tax reached VND 95 billion, up 6.2%.
VASEP's Seafood Export Report for the third quarter of 2024 provides a comprehensive overview of Vietnam's seafood export performance in the first nine months, with impressive results reaching $7.2 billion—an increase of 9% over the same period last year. In the third quarter alone, seafood exports grew by 15%, totaling $2.8 billion. This growth is attributed to a recovery in demand and prices in key markets such as the U.S. and China, as well as the competitive advantage of value-added products in markets like Japan and Australia.
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Chịu trách nhiệm: Ông Nguyễn Hoài Nam - Phó Tổng thư ký Hiệp hội
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