Tridge summary
The article highlights the anticipated positive impact of the Europe-Vietnam Free Trade Agreement (EVFTA) on Vietnam's fisheries sector, projecting a growth rate of around 2% from 2020-2030. This is due to the elimination of high taxes on certain seafood products exported to the EU, which will make Vietnamese seafood more competitive in the market. The agreement is expected to attract foreign investment, advance processing technologies, and enhance product quality within the industry.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
According to Vietnambiz.vn The expected impact of commitments on Vietnam's fisheries sector According to research by the Ministry of Planning and Investment, the implementation of EVFTA will help the industry grow by about 2. % in the period of 2020-2030. Currently, some seafood products of Vietnam, when exported to the EU, are subject to high taxes, such as lobster, which is applying an import tax of 8-20%; crab bar is applying 14.2% tax; cod tax rate of 13%, pink shrimp tax of 12%, items of oysters, scallops, squid, halibut, sea cucumbers ... have an import tax of 8 - 11%. Therefore, after the Agreement comes into effect, items will be immediately deleted to 0%. This will bring great advantages for Vietnamese seafood businesses before rivals such as India, Thailand, countries that do not have free trade agreements with the EU. Vietnam rarely imports ...
Source: AgroInfo.vn
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