Vietnam’s tuna exports to UK positive in coming months: Association

Illustrative photo (Photo: VNA)

Hanoi (VNA) – Vietnam’s tunaexports to the UK in the remaining months of this year will be positive andVietnamese tuna still has good competitiveness thanks to the advantages thatthe Vietnam-UK free trade agreement brings about, according to the VietnamAssociation of Seafood Exporters and Producers (VASEP).

Vietnam is the 13th largest tuna productsupplier to the UK.

According to the General Department of Vietnam Customs, after asharp drop of 51% in May, the export of Vietnamese tuna to the UKcontinued to increase in the two subsequent months. This growth has raisedVietnam’s export turnover of the fish to the UK in the first seven months of this year to more than 4.5 million USD, representing a year on year rise of 77%.

On July 16, the UK signed a document to join theComprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).The accession is expected to boost trade between the UK and the members of theCPTPP bloc, including Vietnam.

Along with the UKVFTA that the two countries signed in late 2020, incentives fromthe CPTPP will open up opportunities for Vietnamese seafoods, includingtuna, to enter the UK market, according to experts.

With the implementation of the UKVFTA,bilateral trade revenue between Vietnam and the UK reached about 8.6 billionUSD in 2022, an increase of 29% over the previous year./.

VNA