Viet Nam seafood exports to CPTPP member countries up 15 per centMonday, May 27,2019
AsemconnectVietnam - Viet Nam’s seafood exports to the other 10 members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) have increased sharply since the agreement took effect earlier this year, according to the Ministry of Agriculture and Rural Development.
Export growth slowed down in the case of many markets.
The CPTPP’s reduction or elimination of many tariff lines on seafood has helped boost their exports to member countries, according to seafood firms.
To capitalise on the opportunities brought by the trade deal, many seafood firms have expanded their facilities, purchased modern machinery and equipment and set up raw material-production areas to enable production that meets market requirements.
China tax exemption
With China easing its import policy, Viet Nam is expected to enhance its exports to the world's most populous market. China is considered one of the most important markets for Vietnamese seafood, with average export value from Viet Nam to China reaching over US$1 billion per year.
Large provinces in China were concerned about direct trading activities with Vietnamese seafood firms instead of buying via intermediaries. As e-commerce in China was developing quickly, many kinds of Vietnamese seafood had been introduced on e-commerce platforms.
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