Vietnam: Advantages of free trade agreements help boost pangasius exports

Published 2024년 7월 16일

Tridge summary

The Vietnam Association of Seafood Processors and Exporters reports that the Free Trade Agreement (FTA) is boosting the aquatic industry, especially pangasius exports. The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) has contributed to a 23% increase in pangasius exports to the CPTPP market in the first half of June 2024, reaching US$12 million. Mexico is the largest importer of Vietnamese pangasius in the CPTPP market. Additionally, the Vietnam-EU Free Trade Agreement (EVFTA) is also aiding pangasius exports to the European Union. In the first five months of the year, the EU imported 67 million US dollars worth of frozen pangasius fillets from Vietnam, noting an 11% share of Vietnam's total pangasius fillet exports.

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Original content

According to the Vietnam Association of Seafood Processors and Exporters, the Free Trade Agreement (FTA) is considered an important step for the "take-off" of the aquatic industry, including pangasius. Thanks to the good use of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Vietnam's pangasius exports to this market reached US$12 million in the first half of June 2024, a year-on-year increase of 23%. As of June 15, 2024, the cumulative export value of pangasius to the CPTPP market reached US$114 million, a year-on-year increase of 10%. Among them, Mexico is the largest import market for Vietnamese pangasius, with a value of US$31 million, an increase of 7%; Japan US$18 million, an increase of 35%; Canada 18 million US dollars, up 15%; Singapore 16 million US dollars, up 0.2% year-on-year. In the second half of 2024, as prices and demand gradually stabilize, the export of pangasius to the CPTPP market is expected to continue to increase. ...

Source: Foodmate