Vietnamese tuna exports suffer from Japan’s high import tariff
Friday, March 17,2017AsemconnectVietnam - Vietnam’s tuna exports to Japan have dropped for four consecutive years since 2013 partly due to high import tariff at 6.4% – 7.2%.
After peaking at US$54 million in 2012, Vietnam’s tuna exports to Japan went down to below US$20 million in 2016. From the third largest importer of Vietnamese tuna, Japan dropped to the sixth place the same year.
The high import tariff reduces Vietnam’s tuna competitiveness against products from other regional countries such as Thailand and the Philippines, which enjoy a 0% tariff in the Japanese market.
Tuna exports showed optimistic signs in 2016 when export value rose 9.3% on-year to over US$500 million, but shipments to Japan accounted for only 4% of the total figure.
The Vietnam Association of Seafood Exporters and Producers (VASEP) has urged the Ministry of Industry and Trade to put tuna in the list of products subject to tariff cut during negotiations for the Vietnam-Japan Economic Partnership Agreement (VJEPA).
Preliminary statistics from Vietnam Customs showed that Vietnam’s tuna export turnover in January 2017 reached nearly US$34 million.
Shipments to Japan unexpectedly surged in the month, making Japan Vietnam’s fourth biggest tuna market, after the US, EU and ASEAN, with a year-on-year surge of 113%.
However, it would be difficult for the Southeast Asian country to maintain these exports if the Japanese government still maintains the current import tax levels.
Currently, Vietnamese tuna accounts for a small proportion in the Japanese market, with 0.5% of fresh and frozen tuna market share and two percent of canned tuna.
To help tuna exporters gain a competitive edge, the Ministry of Industry and Trade has pledged to discuss the issue with the Japanese side when the two countries review the VJEPA in the time ahead.
Source: vov.vn
DAILY: Vietnamese pepper prices remained unchanged on June 26
DAILY: Vietnamese coffee prices rose by 900 VND on June 26
More efforts needed to refine Vietnam's economic development
Interest rates cut expected to attract borrowers
Wheat imports increased slightly by nearly 5% in first 5 months of 2023
Fertilizer export markets in first 5 months of 2023
Exports of animal feed reached 426.3 million USD in first 5 months of 2023
Imports of animal feed reached over 1.93 billion USD in first 5 months of 2023
DAILY: Vietnamese pepper prices fell by 500 VND on June 23
DAILY: Vietnamese coffee prices rose by 200 VND on June 23
Exports to China reached 20.3 billion USD in first 5 months of 2023
Coffee exports surpassed 2 billion USD in first 5 months of 2023
Vietnam considered rising star to become emerging market
Vietnam logistics sector offers attractive investment opportunities
Plan on implementing national strategy on climate change ...
Actively and effectively adapting, reducing vulnerability, loss and damage due to climate change; reduce greenhouse gas emissions ...Scheme on attracting, restructuring and improving quality ...
Urban development plan of Binh Phuoc province in a period ...
Plan on implementing Decision No. 327/QD-TTG dated March ...
Hung Kings Temple Festival 2023 kicks off
The Hung Kings Temple Festival 2023 and the Culture and Tourism Week of Ancestral Land 2023 kicked off in the northern province of Phu Tho ...Vietnam trounce Palestine at AFC U-17 Women's Asian ...
Phu Tho: Festival honours UNESCO intangible cultural ...
Saigontourist Group Food and Culture Festival 2023 opens
Vietnam’s top swimmer Huy Hoang to hold Vietnamese flag at ...