Vietnam’s tuna industry seizes “golden opportunity” to boost exports to the UAE

Published 2024년 11월 11일

Tridge summary

Vietnam's tuna exports to the UAE have seen substantial growth since 2019, with a 139% increase in value by 2023, despite some fluctuations in 2024. The UAE, a key importer of Vietnamese tuna, mainly purchases frozen tuna meat/loins and currently imposes a 5% import tariff. A potential Free Trade Agreement between Vietnam and the UAE could remove these tariffs, boosting competitiveness, although Vietnamese exporters must still address Halal certification challenges. As a leading economy in the Arab world with high seafood consumption, the UAE imports 90% of its seafood and is expected to grow by 4% in 2024, making it a promising partner for Vietnam's tuna industry.

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

Original content

According to data from Vietnam Customs, the value of Vietnam's tuna exports to the UAE has steadily grown after a decline in 2020 due to the impact of the COVID-19 pandemic. Specifically, tuna export value to the UAE increased from $1.6 million in 2019 to nearly $4 million in 2023, reflecting a 139% rise over five years. Currently, Vietnam is one of the UAE’s top three tuna suppliers. However, in 2024, tuna exports to the UAE have shown a fluctuating trend, with periods of both increases and decreases. As of the end of September 2024, tuna exports to the UAE were nearly on par with the same period in 2023. The UAE mainly imports frozen tuna meat/loins from Vietnam under HS code 0304, as well as a smaller quantity of canned tuna products. Currently, imported tuna products face a 5% import tariff. Vietnamese exporters are optimistic that once the Free Trade Agreement (FTA) between Vietnam and the UAE comes into effect, seafood import tariffs will drop to 0%, increasing the ...

Source: Vasep