Vietnam tuna exporters worried over escalating Israel-Iran tensions

According to statistics from Vietnam Customs, tuna exports to Israel in 2023 increased by 37% compared to the previous year, reaching over $50 million. On July 25, 2023, the Vietnam-Israel Free Trade Agreement (VIFTA) was signed, creating many favorable conditions for Vietnam to promote seafood exports, including tuna, to this market. Therefore, in 2024, tuna exports to this market have continued to grow strongly since the beginning of the year. However, in the last 3 months, exports to the market have shown signs of instability, with a 31% decrease in July. In August, exports increased again but the growth rate was not high, only 20% compared to the same period. Israel is considered to be a potential export market for the Vietnamese tuna industry. Although the Middle East has always seen many conflicts, tuna exports to this market have continued to increase. The Middle East is the center of three continents: Asia, Europe, and Africa, so if a conflict occurs, it could cause ...