According to data from Vietnam Customs, the value of Vietnam's tuna exports to the UAE has steadily grown after a decline in 2020 due to the impact of the COVID-19 pandemic. Specifically, tuna export value to the UAE increased from $1.6 million in 2019 to nearly $4 million in 2023, reflecting a 139% rise over five years. Currently, Vietnam is one of the UAE’s top three tuna suppliers. However, in 2024, tuna exports to the UAE have shown a fluctuating trend, with periods of both increases and decreases. As of the end of September 2024, tuna exports to the UAE were nearly on par with the same period in 2023.
The UAE mainly imports frozen tuna meat/loins from Vietnam under HS code 0304, as well as a smaller quantity of canned tuna products. Currently, imported tuna products face a 5% import tariff. Vietnamese exporters are optimistic that once the Free Trade Agreement (FTA) between Vietnam and the UAE comes into effect, seafood import tariffs will drop to 0%, increasing the competitiveness of Vietnamese tuna products in the UAE market.
Beyond tariffs, one of the biggest challenges for exporters to the UAE is meeting the strict Halal certification requirements. Products must not contain any ingredients prohibited by Islamic law, must not come into contact with any materials or equipment that are forbidden in Islamic law during production, and must not be mixed with any ingredients that are not Halal-compliant. Vietnamese companies are actively working to address these concerns to ensure full compliance.
Currently, the UAE is an economic leader in the Arab world, ranking 17th out of 61 economies for competitiveness globally. The country’s per capita seafood consumption is higher than the global average, while agriculture accounts for less than 1% of its GDP. As a result, about 90% of the UAE’s seafood consumption is met through imports. Furthermore, the UAE’s economy is considered one of the most stable in the world.
The International Monetary Fund (IMF) forecasts that the UAE’s GDP will grow by 4% in 2024 and reach 5.1% in 2025. In contrast, the Middle East and Central Asia regions are projected to grow at only 2.4% and 3.9%, respectively, during these years. UAE stands out due to its strong non-oil economy and effective public policy.
Given these factors, the UAE is well-positioned to become a key trading partner for Vietnam’s tuna industry, offering significant growth potential in the coming years.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (ticker symbol FMC - HoSE), one of Vietnam's largest shrimp exporters, recently announced its 2024 business results.
(seafood.vasep.com.vn) The United States remains one of the largest importers and consumers of Vietnamese pangasius, primarily in the form of frozen fillets. However, in recent years, the country has significantly increased its imports of value-added pangasius products.
(seafood.vasep.com.vn) After reaching a peak of nearly USD 6 million in June 2024, the export value of Vietnamese tuna to Italy has stagnated and continuously declined in the last five months of the year. Cumulatively, by December 15, 2024, export turnover to this market decreased by 18% compared to the same period in 2023, reaching over USD 30 million. With this decline, Italy is no longer Vietnam's largest tuna import market within the EU bloc.
The Mekong Delta province of Tien Giang, with its 32-km coastline, is well-positioned to develop a thriving seafood industry. Recognising the importance of sustainable offshore fishing, local authorities have implemented policies to modernise the fishing fleet and support operations in offshore waters.
(seafood.vasep.com.vn) On the evening of December 23, 2024, in Ho Chi Minh City, the Vietnam Association of Seafood Exporters and Producers (VASEP) held a ceremony to celebrate the seafood export milestone of 10 billion USD, with hopes for continued growth in 2025. The event was attended by Deputy Minister of Agriculture and Rural Development Phung Duc Tien, Deputy Minister of Foreign Affairs Nguyen Minh Hang, and representatives from various ministries, as well as domestic and international partners.
(seafood.vasep.com.vn) With a market share exceeding 10% in Vietnam's aquafeed sector, Sao Mai Super Feed has affirmed its position as one of the leading brands, making a significant contribution to the development of the pangasius industry and elevating Vietnamese pangasius products on the international stage.
Secretary General of the Vietnam Association of Seafood Exporters and Producers (VASEP) Nguyen Hoai Nam said that in the past 5-6 years, Vietnam's seafood export value has only hovered around 8-10 billion USD/year. To reach the value of 16 billion USD by 2030, Mr. Nam proposed establishing corporations/enterprises to exploit the sea.
(seafood.vasep.com.vn) Vinh Hoan Seafood (stock code VHC) announced that its export turnover to three key markets— the U.S., EU, and China—grew between 32% and 40% in November 2024 compared to the same period in 2023.
(seafood.vasep.com.vn) Shrimp exports for the first 11 months of 2024 brought in nearly 3.6 billion USD, up 22% compared to the same period last year. Exports to major consumption markets all recorded double-digit growth.
(seafood.vasep.com.vn) In 2023, total pangasius imports into the European Union saw a significant decline compared to the previous year. Approximately 70,000 tons were imported, 3,000 tons less than in 2022, according to a report from FAO-Globefish.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
Chịu trách nhiệm: Ông Nguyễn Hoài Nam - Phó Tổng thư ký Hiệp hội
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Trưởng Ban Biên tập: Bà Phùng Thị Kim Thu
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