Vietnamese tuna is enjoying many advantages in keonhacai xoilac UK market thanks to tariff incentives from keonhacai xoilac UK - Vietnam Free Trade Agreement (UKVFTA).
According to official figures from keonhacai xoilac Vietnam Association of Seafood Exporters and Producers (VASEP), after three consecutive months of decline, Vietnam's tuna exports to keonhacai xoilac UK have increased sharply, with export value to this highly profitable market soaring by 56% to US2 million.
In keonhacai xoilac first half of keonhacai xoilac year, tuna exports to keonhacai xoilac UK market reached US.6 million, down 5% compared to keonhacai xoilac same period last year.
VASEP also reported that tuna is sold in many types of products in keonhacai xoilac UK market such as raw, processed, sushi, sauce, cakes or breaded. Of which, canned and packaged tuna products are often consumed keonhacai xoilac most. However, keonhacai xoilac consumption of this product group has been on a downward trend since last year.
However, according to keonhacai xoilac Import-Export Department, Vietnamese tuna is gaining an advantage in keonhacai xoilac UK market thanks to tariff incentives from keonhacai xoilac UKVFTA. According to keonhacai xoilac commitment in keonhacai xoilac UKVFTA, in terms of tariffs, this agreement has a mechanism to continue implementing keonhacai xoilac EU-Vietnam Free Trade Agreement (EVFTA), which means that import tariffs on fresh and frozen tuna products will be quickly eliminated.
keonhacai xoilac tariff rate for frozen tuna or fillets will be eliminated over a period of 3 years from 18% to 0%. For processed tuna used for canned tuna - keonhacai xoilac basic rate of 24% will be reduced over a 7-year schedule.
For canned and packaged tuna, keonhacai xoilac quota of 11,500 tons per year will be exempted from tariffs. After that, keonhacai xoilac original tariff rate of 20.5% will be applied, which will be reduced by 3.5% per year.
To enjoy tariff incentives, Vietnamese enterprises need to prove their origin. keonhacai xoilac regulations on Rules of Origin in keonhacai xoilac UKVFTA are similar to keonhacai xoilac EVFTA, with keonhacai xoilac origin criteria for raw and processed seafood in keonhacai xoilac UKVFTA being pure origin. This means that raw, semi-processed and processed seafood exported from Vietnam are considered to have origin under keonhacai xoilac UKVFTA Agreement when keonhacai xoilac seafood raw materials used in keonhacai xoilac production process are purely Vietnamese origin (born or raised, caught and processed entirely in Vietnam), and are not allowed to be imported from a third country outside keonhacai xoilac agreement.
Therefore, to promote tuna products to keonhacai xoilac UK market, according to experts, Vietnamese enterprises need to increase keonhacai xoilac application of science and technology, develop modern production and processing systems, thereby optimizing keonhacai xoilac production process to improve keonhacai xoilac quality and added value of products, helping Vietnamese seafood gradually reach international standards and create competitive advantages.
Source: Ministry of Industry and Trade
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