EVFTA is an advantage in helping seafood exports to the EU

Seafood processing at Camimex Company. Photo: H.T

According to Vietnam Association of Seafood Exporters and Producers (VASEP), demand in the EU recovered after the pandemic, although the inflation of foods was high. Despite difficulties like high sea freight rates and container costs, Vietnamese enterprises take this advantage to promote exports to this market.

In particular, in the context of price inflation, the EVFTA is an even more favorable factor to help exports to the EU prosper. Seafood exports to the EU in the first five months of this year also recorded a high growth rate of 45%, reaching nearly US$562 million.

According to Mrs. Le Hang, Deputy Director of VASEP.PRO Center, shrimp still accounted for the highest proportion in the structure of products exported to the EU, accounting for 54% with US$303 million, increasing by 51% over the same period in 2021. EU increased imports of whiteleg shrimp by 46% with US$236 million, accounting for 78%. Prawn imports from Vietnam skyrocketed 75% to over US$50 million, accounting for 16.5% of shrimp exports to the bloc.

The top three major import markets in the bloc, including the Netherlands, Germany and Belgium, all increased from 58 to 91% of Vietnam's shrimp imports in the first five months of 2022.

A positive sign is that shutchi catfish exports to the EU this year rebounded strongly, with an increase of 89% in the first five months of the year, reaching nearly US$89 million, accounting for 16% of seafood export value to the EU. This is a remarkable change compared to 10% in 2021. In particular, shutchi catfish exports to the Netherlands increased by 80%, Germany is 89%, Spain is 90% and Belgium is 104%.

Tuna exports to the EU accounted for 12%, reaching US$68 million, up 9%. Tuna exports to the Netherlands and Belgium increased sharply by 59%, 70% and 100%, respectively. The two main products are frozen loin/filet for 63% and canned tuna for 25%. Exports of these two products to the EU increased by 77% and 14% respectively. Meanwhile, exports of other processed tuna and fresh/frozen tuna fell by 63% and 69% respectively, accounting for a total of 10% of tuna exports to the EU.