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

Illustrative photo (Photo: VNA)

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

Vietnam is the 13th largest tuna product supplier to the UK.

According to the General Department of Vietnam Customs, after a sharp drop of 51% in May, the export of Vietnamese tuna to the UK continued to increase in the two subsequent months. This growth has raised Vietnam’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 the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). The accession is expected to boost trade between the UK and the members of the CPTPP bloc, including Vietnam.

Along with the UKVFTA that the two countries signed in late 2020, incentives from the CPTPP will open up opportunities for Vietnamese seafoods, including tuna, 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 billion USD in 2022, an increase of 29% over the previous year./.

VNA