CPTPP prompts Vietnam’s aquatic exports to Japan
Illustrative image (Source: VNA)
Vietnam is eying great opportunities in exporting aquatic products to the Japanese market thanks to the high level of openness of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), according to insiders.
Nguyen Manh Dong, Third Secretary of the Vietnam Trade Office in Japan, said that apart from the Vietnam-Japan Economic Partnership Agreement (VJEPA), the two countries have also joined other trade deals such as the CPTPP and the Regional Comprehensive Economic Partnership (RCEP), which brings more chances for Vietnamese aquatic products in this market.
Japan’s commitments in the CPTPP for aquatic products is high, including the exemption of 65% of the total tax lines and cutting the remaining in a roadmap of 6-16 years, he added.
The CPTPP allows Vietnam to import materials from 11 member countries to export to Japan with secured tax preferences, he added, holding that the deal brings great advantages for Vietnamese aquatic products in Japan in both origin and tax.
Currently, Japan is the third largest market of the Vietnamese aquatic sector, with export revenue reaching 638.91 million USD in the first five months of this year, up 15.7 percent year on year, accounting for 13.6 percent of the total export revenue of the whole sector.
However, the Vietnam Trade Office representative reminded exporters to strictly follow food safety regulations when exporting aquatic products to this choosy market to protect their interest and good image of Vietnamese fisheries sector.
He also advised domestic firms to try to keep their products’ price stable to win confidence from sensitive Japanese consumers./.
Related News
Wood exports started well
13:26 | 20/04/2024 Import-Export
Leverage to increase the scale of Vietnam - Laos trade turnover
10:51 | 15/04/2024 Import-Export
Vietnam-China trade reaches over US$ 27 billion
09:29 | 10/04/2024 Import-Export
How more than 6 tons of smuggled gold transported to Vietnam?
07:49 | 05/04/2024 Anti-Smuggling
Latest News
More efforts needed to maintain export growth to China: Insiders
13:55 | 23/04/2024 Import-Export
It is expected that there are higher orders and revenue in the second quarter from European businesses
09:31 | 23/04/2024 Import-Export
Vietnamese rice prices on the hike
15:08 | 22/04/2024 Import-Export
FDI flow into garment and textile sector bounces back
15:06 | 22/04/2024 Import-Export
More News
Investors play a key role in developing the industrial park system
10:38 | 22/04/2024 Headlines
Find ways to a corporation for businesses in industrial parks
10:38 | 22/04/2024 Import-Export
Export turnover of two agricultural product groups grows three-digit
18:10 | 21/04/2024 Import-Export
Early warnings reduce risks in trade defense
18:09 | 21/04/2024 Import-Export
Rubber exports are flourishing, promising potential
17:51 | 20/04/2024 Import-Export
Vietnam becomes biggest rice supplier for Singapore
17:49 | 20/04/2024 Import-Export
Vietnam an attractive destination for electronics, semiconductor investors: Official
17:41 | 20/04/2024 Import-Export
Take advantage of e-commerce leverage for export
13:25 | 20/04/2024 Import-Export
Vietnam earns 1.43 billion USD from rice exports in Q1
15:50 | 19/04/2024 Import-Export
Your care
More efforts needed to maintain export growth to China: Insiders
13:55 | 23/04/2024 Import-Export
It is expected that there are higher orders and revenue in the second quarter from European businesses
09:31 | 23/04/2024 Import-Export
Vietnamese rice prices on the hike
15:08 | 22/04/2024 Import-Export
FDI flow into garment and textile sector bounces back
15:06 | 22/04/2024 Import-Export
Investors play a key role in developing the industrial park system
10:38 | 22/04/2024 Headlines