According to the Ministry of Industry and Trade, the UK is currently Vietnam's third largest trading partner in the EU, and after the UKVFTA takes effect, it will bring many benefits to Vietnam. In particular, the potential for growth of Vietnamese goods in the UK market is still very large because currently Vietnamese goods account for less than 1% of the market share in the total import turnover of the UK each year, worth nearly 700 billion USD (in 2019). .
According to UKVFTA's commitment, many Vietnamese products are exempt from import tax without quota or quota, immediately or according to the roadmap, when exported to the UK such as: Coffee, fruit, bags, and coffee. cups, shoes, textiles, seafood...
It is worth mentioning that many Vietnamese products will have a competitive advantage over similar products of many countries that are exported to the UK but have no trade agreements with this country. Mr. Truong Dinh Hoe, General Secretary of the Vietnam Association of Seafood Exporters and Producers, said that the UK market currently accounts for over 4% of Vietnam's total seafood export value. With UKVFTA, the import tax on most raw shrimp to the UK will be reduced from 10-20% to 0%, which will create many opportunities for seafood businesses to boost exports to the UK.
According to the latest data from the Ministry of Industry and Trade, in the first three months of 2021 alone, Vietnam's exports to the UK reached nearly $1.6 billion, up 22.1% over the same period last year. It is forecasted that from now until the end of the year, exports to the UK will continue to increase. Mr. Nguyen Canh Cuong, Vietnam Trade Counselor in the UK, said: “UKVFTA not only brings direct benefits but also brings indirect investment benefits to Vietnam. British investors will increase their search for investment opportunities in Vietnam or move their production facilities from elsewhere to Vietnam so that products are tax-free when export back to the UK."
(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.
(seafood.vasep.com.vn) In November 2024, Vietnam's tuna exports failed to maintain the rapid growth momentum seen earlier. Export value during the month increased by nearly 4% year-on-year, reaching approximately USD 82 million. Cumulatively, the export value for the first 11 months of 2024 totaled USD 903 million, a 17% increase compared to the same period in 2023. However, at this growth rate, the total export turnover for 2024 is estimated to only reach around USD 1 billion.
(seafood.vasep.com.vn) On the evening of December 24, 2024, in Hanoi, the Central Youth Union, Viet nam Youth Federation and the Vietnam Young Entrepreneurs Association held the Vietnam Golden Star Award Ceremony 2024, with the theme "Reaching Vietnam", honoring 200 outstanding enterprises. Deputy Prime Minister Nguyen Hoa Binh attended.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
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