Vietnam Trade Promotion Agency in association with Vietnamese Trade Offices – Embassies of Vietnam in EU’s member countries held an Online convention of seafood trade between Vietnam and the EU countries within two days April 25 and 26.
The Vietnam Trade Promotion Agency (under the Ministry of Industry and Trade) said that an online convention of seafood trade between Vietnam and the EU countries would be held on April 25 and 26, creating a good opportunity for Vietnamese enterprises to look for customers from the EU market.
The trade convention is held by the Vietnam Trade Promotion Agency in association with Vietnamese Trade Offices – Embassies of Vietnam in the EU countries.
According to the Agency, the EU is one of the largest five importers of Vietnamese seafood. Among Asian countries, Vietnam has been the second largest provider of seafood to the EU, after China. The EU has a huge demand for imported seafood, over USD 50 billion per year.
The EU has been known as one of the leading seafood importers of Vietnamese seafood for years. On August 01, 2020, the officially effective EVFTA created good opportunities for Vietnamese seafood going to the EU market upon a series of preferential tariffs signed by the two parties.
According to the EVFTA, about 220 taxes imposed on seafood products have a tax rate of 0-22%, the rest taxes will be cut to 0% after 3-7 years, enabling Vietnamese seafood products to enhance their competitiveness in terms of prices against the same products imported from other countries.
After the Covid-19 vaccination and the stimulus bill from earlier 2021, demand for seafood in the EU countries has recovered clearly.
In 2021, Vietnam’s seafood exports to the EU market reached over USD 1 billion, up 12%. This number can be higher if Vietnam’s seafood production is not disrupted by the Covid-19 pandemic in quarter III.
The top five importers of Vietnamese seafood in Europe include the Netherlands, Germany, Belgium, Italia, and France, accounting for 72% in total. Sales of main seafood products to the EU market have shown a positive growth, except for pangasius.
A noticeable increase in sales of mollusk was recorded in the EU market last year, up 37% with USD 87 million worth, mainly due to the 42% increase in sales of clam with USD 78 million worth.
Clam has become the fourth biggest export value species in the EU, with sales to Spain, Italy and Portugal increasing by 38-44%.