EVFTA: Commitment to tariffs on the fisheries sector

Published 2020년 8월 7일

Tridge summary

The Europe-Vietnam Free Trade Agreement (EVFTA), set to take effect, will significantly reduce tariffs on Vietnamese agricultural products exported to the EU. Initially, tariffs will be slashed by approximately 50% for a variety of seafood including oysters, scallops, and shrimp. Over a period of 3 to 7 years, remaining tariffs will be phased out completely for items like shrimp, pangasius, and tuna. Notably, canned tuna and surimi (fish ball) will enjoy quota-based tariff exemptions. The EU will also gradually eliminate tariffs on fresh and frozen tuna, with steamed tuna loins/fillets enjoying a seven-year roadmap to 0% tariffs. Canned processed tuna products will be exempt from tariffs up to a certain annual quota.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to Vietnambiz.vn, immediately remove about 50% of tariff lines as soon as the Agreement comes into effect, in which most high-tax products from 6-22% will be eliminated to 0% such as oysters, scallops, squid, and octopus. , clams, oysters, processed abalone, frozen tiger shrimp, ... 50% of remaining tariff lines, base tax rate from 5.5 to 26%, will be reduced to 0% according to the 3 to 7 year roadmap. , such as shrimp products, pangasius, tuna, ... Particularly canned tuna and Surimi (fish ball) apply tariff quotas of 11,500 tons / year and 500 tons / year, respectively. As soon as the EVFTA comes into effect, the export tax on some Vietnamese shrimp products to the EU will be 0%: + Shrimp HS code 03061100 (frozen green lobster; frozen HOSO, DP; frozen fresh iron shrimp PD shellfish, whole, frozen sawn shrimp ...) from the current 12.5%; + Shrimp HS code 03061710 (frozen PD shrimp, frozen whole tiger prawn HOSO, frozen fresh tiger shrimp, frozen prawn, fresh frozen HLSO ...

Source: AgroInfo.vn