The EU has surpassed the US and Japan to become the largest consumer of Vietnamese seafood in the first four months of this year, according to the Deputy Minister of Fisheries, Luong Le Phuong.
Vietnam’s exact earnings from seafood exports to the EU however have not yet been made available.
The EU annually spends US$632 million on importing seafood products from ASEAN, in which Vietnam represents over 50 per cent of the imports.
Last year, Vietnam’s seafood exports to the EU reportedly increased by 70 per cent on-year in terms of value to reach US$327.1 million.
Eighteen Vietnamese companies were certified in 1999 to meet EU requirements to export their seafood products to the EU, and the list has risen to 171 at present.
Meanwhile, under the European Union’s amendments to the new common regulation mechanism on food hygiene, 33 more local export businesses were qualified to export products to the EU, the deputy minister said.
After the bloc adjusted regulations on aquaculture imports, Vietnamese seafood exporters are to have an easier time entering the European market, Phuong said.
Seafood products imported from Vietnam would be examined and granted with hygiene and quality certificates by domestically authorized offices instead of by the EU.
The EU also enlarged its current 6,400 item list subject to preferential tariffs under the Generalized System of Preferences (GSP) by adding 300 new goods, mainly agricultural and seafood.
Many Vietnamese-made goods are expected to benefit from the preferential taxes.
The GSP’s favored tariffs are set to be lower than that under the Most Favored Nation (MFN) status which range from 3.5 to 20 per cent, depending on the specific category.
Markus Cornaro, Ambassador and head of the European Commission (EC) mission in Vietnam, said Vietnamese exporters complied with EU regulations on food hygiene.
The bloc is a large trading partner for Vietnam, accounting for 17 per cent of total commercial transactions and 22-24 per cent of the total export value of the country.
Vietnamese exports to the EU market have increased sharply in recent years, particularly to Britain, France, Germany, Sweden and the Netherlands.
Industrial exports rose slightly, while farm products and seafood made up more than 85 percent of Vietnam’s export turnover.
EU experts suggested that Vietnamese enterprises should develop negotiation skills in doing business with European businesses and conduct surveys to penetrate the discerning markets.
When exporting to EU markets, they said, Vietnamese enterprises need to be sensitive to customer needs, have certificates of origin and ensure timely delivery.
Vietnam Economic Times
Vietnamese
