Vietnamese enterprises should be well-prepared to enhance shipments to the UK, particularly after the UK-Vietnam Free Trade Agreement took effect on December 31, 2020, according to insiders.
The UK-Vietnam Free Trade Agreement (UKVFTA) will open up more opportunities to boost the export of Vietnam’s key agricultural products with the commitments to market opening the same as the EU-Vietnam FTA, Minister of Industry and Trade Tran Tuan Anh has said.
The Vietnam Association of Seafood Producers and Exporters (VASEP) said it plans several measures to help its members further penetrate the global supply chain and enable the fisheries sector to reach its export target of 12 billion USD in 2025, 40 percent higher than this year.
Export revenue in 2020 is estimated to reach 267 billion USD while imports are to reach 260 billion USD, resulting in a trade surplus of some 7 billion USD, according to Deputy Minister of Industry and Trade Do Thang Hai.
The Vietnam Association of Seafood Exporters and Producers (VASEP) has announced that China continues to closely control COVID-19 in imported aquatic products, which is likely to slow Vietnam’s exports to the country in the months to come.
Vietnamese tuna appears ideally placed to take advantage of the EU-Vietnam Free Trade Agreement (EVFTA), with shipments rising 0.5 percent year-on-year to 126 million USD during January-November despite COVID-19.
ASEAN, Vietnam’s eighth-largest importer of shrimp, is likely to expand its market share of such exports, the Vietnam Association of Seafood Exporters and Producers (VASEP) has said.
The commitment to market opening and tax incentives in the Regional Comprehensive Economic Partnership (RCEP) agreement will generate huge opportunities for Vietnam to increase its share in the 26 trillion USD market.
Vietnam may earn 8.6 billion USD from exporting aquatic products this year, the same as the figure in 2019, the Vietnam Association of Seafood Exporters and Producers (VASEP) has forecast, adding that it would be a result beyond the expectations of most given the COVID-19 pandemic.
Vietnam sustained an export growth rate of over 5 percent during the last 11 months, helping the trade surplus hit a record that almost doubled the figure in the same period of 2019.
Enhancing fishery cooperation between Vietnam and India was the theme of the opening session of the online fisheries expo and conference which is taking place with the theme of 'FISH MART' from November 24 to 30.
Removing the European Commission (EC)’s illegal, unreported and unregulated (IUU) fishing “yellow card” is not easy and cannot be done overnight, but the Vietnamese business community and associations are still determined to do, not only to meet EU requirements, but also for the sake of sustainable fishery development.
Vietnam’s tuna exports to the Middle East and Africa have seen positive signs since the beginning of the year despite declines in overall seafood exports in the face of COVID-19, First Secretary and Head of the Trade Office at the Vietnamese Embassy in Egypt Nguyen Duy Hung said on October 25.
Vietnam’s shrimp exports are forecast to reach 3.7 billion USD this year, posting an year-on-year increase of 9.8 percent, fuelled by the EU – Vietnam Free Trade Agreement (EVFTA) which facilitated export to the EU markets, according to Vietnam Association of Seafood Exporters and Producers (VASEP).
The COVID-19 pandemic has worsened the shortage of cold storage space in Ho Chi Minh City and surrounding areas as goods pile up as a result of lack of demand.
The slump in fisheries exports eased in September, with revenue reaching 820 million USD, an increase of 0.6 percent year-on-year, according to the Ministry of Agriculture and Rural Development (MARD).
A workshop was held in the south-central province of Khanh Hoa on October 10 to promote tuna supply chain, and tuna exports to the EU under the EU-Vietnam Free Trade Agreement (EVFTA).
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