Prospects for Vietnam seafood in many big markets 
Tuesday, 03 August 2021


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Seafood News

Prospects for Vietnam seafood in many big markets


According to the Ministry of Agriculture and Rural development (MARD), exports of agriculture and forestry aquatic products are expected more promising in 2016 thanks to increased demand in markets and the opportunities to enjoy great tax incentives, higher competitiveness from the free trade agreement just finished in 2015.

The Department of agricultural, forestry and aquatic products and salt (under MARD) said, among the key export markets of Vietnam, demand from the United States will rise sharply and steadily. Taking incentives from TPP would also be advantages for Vietnam agricultural products in the coming time.

For years, wood and seafood products are the major items, bringing a large contribution in the total export turnover of Vietnam to the United States.

EU is a import market with huge purchasing power for different products. The free trade agreement with the EU ended negotiation period, opening up the opportunities for Vietnam agriculture, when 90% of goods imported to the market are applied tariff of 0%.

Coffee, seafood, wood and wood products represent the largest proportion in the Vietnam agricultural products export to EU.

Besides, in 2016 ASEAN will be an area of common market with the liberalisation of goods trade in the area with tax of 0%. The import tax is deleted comletely help easily trading the goods of the countries in the region. Some of the major items exported to the market include the seafood, vegetables, tea, rice, wood, rubber.

Russia is also in the great potential import market as Russia has a large import demand for agricultural commodities that are Vietnam's strengths. Russia’s ban on imports of many agricultural products such as vegetables, fruits and aquatic products from the EU, the United States and some of its neighbours in Eastern Europe would be a good opportunity for Vietnam to increase the export of the items. This is the premise to take advantage of trade agreements with Customs Union of Belarus-Kazakhstan-Russia before other countries have same conditions for market entry. The main products exporting to the market are tea, coffee and vegetables.

For the African market, Vietnam agricultural products are having a foothold in the market and create a reputation for African consumers. The agricultural products exported to the market area is rice, timber and coffee ...

Compiled by Le Hang