EVFTA to significantly increase Vietnamese seafood exports to the EU

When the EVFTA Agreement comes into effect, Vietnamese exports, especially for seafood products, to Europe will increase significantly. Currently, nearly 50% of the tax lines have a base rate of 0-22%, however, the trade agreement will reduce the tariff to 0% for around 840 products. Particularly for canned tuna and fish balls, the agreement will alow Vietnam tariff quotas of 11,500 tons and 500 tons respectively. In addition, most of the frozen squid and octopus products with a basic tax rate of 6-8% will be reduced immediately to 0%. Other products such as surimi will be reduced from 14.2% to 0%, fish checkers from 7.5% to 0%.