Tuna exports to EU rise after FTA

Published 2020년 12월 15일

Tridge summary

Vietnamese tuna exports have seen a rise of 0.5% to US $ 126 million despite COVID-19, with notable increases in shipments to Italy, Germany, and Spain. The EU-Vietnam Free Trade Agreement (EVFTA) is expected to further boost exports in December, with tariffs on fresh and frozen tuna already eliminated and more exemptions on the way. This provides Vietnamese tuna products with a competitive edge over competitors from Thailand and China. However, local firms must comply with the EU's strict market rules regarding IUU fishing, food safety, and traceability. Despite the growth, the tuna market in Egypt and the Middle East has declined due to COVID-19 restrictions.

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Original content

ABO / NDO - Vietnamese tuna appears ideally placed to take advantage of the EU-Vietnam Free Trade Agreement (EVFTA), with shipments rising 0.5% year-on-year to US $ 126 million during January-November despite COVID-19. According to the Vietnam Association of Seafood Exporters and Producers (VASEP), tuna exports to Italy, Germany, and Spain rose 60%, 20%, and 41%, respectively. Exports prepare to the EU are expected to increase handily in December as importers prepare for tuna batches for 2021 while taking advantage of tariff incentives under the FTA. Under the agreement, which came into effect on August 1, the EU has eliminated tariffs on fresh and frozen Vietnamese tuna, with 11,500 tonnes of canned tuna and 500 tonnes of canned fish balls benefiting from the exemption annually. The bloc also removes tariffs on frozen tenderloin and fillets under a three-year roadmap, and on steamed tenderloin and fillets under a seven-year roadmap. With the tax breaks from the EVFTA, Vietnamese ...

Source: Baoapbac