Vietnamese businesses should prepare to deal with potential trade barriers that could arise early next year when the European Union-Vietnam Free Trade Agreement (EVFTA) takes effect, experts have said.
Vietnam’s aquatic export revenue is estimated to reach 778 million USD in November this year, pushing the total earnings in the first 11 months of 2019 to about 8 billion USD.
Sufficient material supply for processing plants is expected to help the seafood industry rake in 9 billion USD in export revenue in 2019, said the Ministry of Agriculture and Rural Development.
Value chains, which involve fishing, processing and consumption of tuna, have helped Vietnamese tuna products gain competitive edge in more than 200 markets worldwide, according to insiders.
Vietnam’s fishery sector expects to regain a “green card” from the European Commission (EC) after working tirelessly to fight illegal, unreported and unregulated (IUU) fishing, but much work needs to be done, especially fishing management and attitude of local fishermen.
Vietnam exported 1.93 billion USD worth of shrimp during January-August, down 8.1 percent from the same period last year, according to the Ministry of Agriculture and Rural Development’s Directorate of Fisheries.
As Vietnam joins more international trade agreements, dealing with and overcoming trade defence measures has become a top priority for Vietnamese businesses.
The export value of tra fish in July continued to drop for the fifth consecutive month, down 12.7 percent year-on-year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
The US Department of Commerce (DOC) on August 22 released the final results of the 13th period of review (POR 13), officially imposing zero percent tariffs on 31 Vietnamese shrimp exporters.
Vietnam’s export of aquatic products in July showed positive signs with an increase of 9 percent year-on-year, particularly with exports of shrimp and other products rising, except for pangasius.
Vietnam’s shrimp export value to China in July saw a year-on-year increase of 48 percent, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Vietnam gained 13.3 million USD from exporting tuna to Italy in the first half of 2019, a year-on-year surge of 60 percent, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Many listed tra fish (pangasius) businesses reported a surge in profits in the second quarter of 2019, partially thanks to share sales and export growth.
Exports of aquatic products in the second quarter could increase by 8 percent at the highest, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
With its current position, Vietnam is in top five countries supplying large seafood in the world and quality products such as shrimp, catfish, tuna have been present in the toughest markets.
The US Department of Commerce (DOC) has announced its final decision of the DOC’s 14th Period of Review on anti-dumping tariffs on Vietnam’s tra fish batches imported into the country during the period from August 1, 2016 to July 31, 2017.
The export of marine products is expected to rise by 17 percent to 3.5 billion USD this year despite likely hurdles, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
The fisheries sector is aiming at 10 billion USD in the export of aquatic products in 2019, a year-on-year rise of 11 percent, according to the Việt Nam Association of Seafood Exporters and Producers (VASEP).
Vietnam’s shrimp exports are expected to increase to more than 4 billion USD in 2019 thanks to free trade agreements, said the Vietnam Association of Seafood Exporters and Producers (VASEP).
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