The EU has the potential to be a market of great importance for Vietnamese shrimp in 2020, given the free trade agreement (FTA) which is now in place between the two, reports Vietnam News.
Shrimp sales to the EU will lift if Vietnam can take advantage of preferential tariffs, and implement rules of origin, said Truong Dinh Hoe, general secretary of Vietnam's Association of Seafood Exporters and Producers (VASEP).
The FTA, signed in June 2019, takes the tariffs on most raw shrimp -- including fresh, frozen and chilled products -- from 12-20% down to zero. Tariffs on processed shrimp will fall to zero after seven years.
Currently, the EU accounts for about 22% of Vietnam's shrimp exports.
To take advantage, VASEP said immediate and long-term requirements are to create a certified shrimp supply at competitive prices, and build a Vietnamese shrimp brand. It has appealed to the government for help in controlling the shrimp farming process and preventing the use of banned chemicals during production.
2019-12-24 09:15:00Z
https://www.undercurrentnews.com/2019/12/24/vietnam-to-target-eu-with-shrimp-in-2020/
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