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) 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.
(seafood.vasep.com.vn) Bình Thuận's seafood production has maintained stability year-to-date, with favorable fishing grounds. However, the growth rate slowed slightly in the third quarter due to the impact of storms and tropical depressions in the East Sea.
(seafood.vasep.com.vn) Pangasius, a popular whitefish species favored in many global markets and a signature fish of Vietnam, faces stiff competition from other whitefish varieties such as cod, hake, and tilapia. However, Vietnamese pangasius has emerged as the top choice among whitefish imported by Brazil.
(seafood.vasep.com.vn) According to market trends, starting in Q3, importers typically ramp up purchases to prepare for the holiday season and year-end festivities. U.S. consumer spending is expected to recover in the second half of 2024 compared to the same period last year, which could positively impact the value of Vietnam's seafood exports to this market.
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