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CPTPP prompts Vietnam’s aquatic exports to Japan

Vietnam is eying great opportunities in exporting aquatic products to the Japanese market thanks to the high level of openness of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), according to insiders.
CPTPP prompts Vietnam’s aquatic exports to Japan ảnh 1Illustrative image (Source: VNA)
Hanoi (VNA) –Vietnam is eying great opportunities in exporting aquatic products to theJapanese market thanks to the high level of openness of the Comprehensive andProgressive Agreement for Trans-Pacific Partnership (CPTPP), according toinsiders.

Nguyen Manh Dong, ThirdSecretary of the Vietnam Trade Office in Japan, said that apart from the Vietnam-JapanEconomic Partnership Agreement (VJEPA), the two countries have also joined othertrade deals such as the CPTPP and the Regional Comprehensive Economic Partnership (RCEP),which brings more chances for Vietnamese aquatic products in this market.

Japan’s commitments inthe CPTPP for aquatic products is high, including the exemption of 65% of the total tax lines and cutting the remaining in a roadmap of 6-16 years, headded.

The CPTPP allows Vietnamto import materials from 11 member countries to export to Japan with secured taxpreferences, he added, holding that the deal brings great advantages forVietnamese aquatic products in Japan in both origin and tax.

Currently, Japan isthe third largest market of the Vietnamese aquatic sector, with export revenuereaching 638.91 million USD in the first five months of this year, up 15.7percent year on year, accounting for 13.6 percent of the total export revenue ofthe whole sector.

However, the VietnamTrade Office representative reminded exporters to strictly follow food safetyregulations when exporting aquatic products to this choosy market to protecttheir interest and good image of Vietnamese fisheries sector.

He also adviseddomestic firms to try to keep their products’ price stable to win confidencefrom sensitive Japanese consumers./.
VNA
#Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) #Vietnam Trade Office in Japan #VJEPA #Vietnam #Vietnam news #Vietnam News Agency
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