(seafood.vasep.com.vn) More than five years after the UK-Vietnam Free Trade Agreement (UKVFTA) took effect, Vietnamese seafood is steadily expanding its market share in the United Kingdom, one of Europe’s major seafood import markets with stable and diverse consumer demand.
According to Nguyen Hoai Nam, Secretary General of the Vietnam Association of Seafood Exporters and Producers (VASEP), seafood trade between Vietnam and the UK has seen solid growth, with the UK importing around US$300-400 million worth of Vietnamese seafood each year.
Alongside Canada, Australia and ASEAN, the UK is among Vietnam’s important seafood export markets, just behind destinations generating more than US$1 billion in annual seafood export turnover. This provides a foundation for businesses to further expand exports in the coming years.
One of the key drivers is the UKVFTA, under which many of Vietnam’s major seafood products benefit from zero-percent import tariffs. This advantage strengthens price competitiveness while making it easier for exporters to access UK importers and distribution networks.
Shrimp and pangasius currently account for around 90% of Vietnam’s seafood export value to the UK, with shrimp making up the largest share. In addition to these two main products, tuna, squid, octopus, mollusks and processed seafood products are also gradually increasing their presence in the UK market.
Nguyen Hoai Nam noted that businesses have made good use of tariff incentives under the UKVFTA and that the UK market still offers considerable room for growth.
However, to make better use of the agreement’s commitments, businesses need to secure stable raw material supplies, improve product quality and fully meet requirements on food safety, traceability and social responsibility.
Although no longer part of the European Union (EU), the UK continues to maintain high standards for quality and food safety. These standards serve as both a requirement and an incentive for Vietnamese seafood producers to further modernize and improve production and processing.
To support businesses, the VASEP regularly updates companies on new UK market regulations and provides information on illegal, unreported and unregulated (IUU) fishing rules, technical requirements and consumer trends.
VASEP also works with Seafish to help businesses access market information and develop products suited to consumer demand.
According to VASEP, free trade agreements such as the UKVFTA have created significant opportunities for Vietnam’s seafood sector. However, turning these advantages into sustainable export growth will require not only business efforts but also strong support from the government and ministries in improving regulations, streamlining administrative procedures and strengthening business competitiveness.
Source: VOV