Egypt emerges as promising market for Vietnamese canned tuna
Vietnam’s tuna exports to the Middle East and Africa have seen positive signs since the beginning of the year despite declines in overall seafood exports in the face of COVID-19, First Secretary and Head of the Trade Office at the Vietnamese Embassy in Egypt Nguyen Duy Hung said on October 25.
Cairo (VNA) - Vietnam’s tuna exports to the Middle East andAfrica have seen positive signs since the beginning of the year despitedeclines in overall seafood exports in the face of COVID-19, First Secretaryand Head of the Trade Office at the Vietnamese Embassy in Egypt Nguyen Duy Hungsaid on October 25.
The pandemic has taken a heavy toll on Vietnam’s exports of seafood tothe Middle East and Africa, he told the Vietnam News Agency (VNA)’s reporter inthe Egyptian capital of Cairo.
Data from the General Department of Vietnam Customs shows that seafoodexports to Vietnam’s three largest markets in the region - Israel, the UnitedArab Emirates (UAE), and Egypt - plunged during the first nine months of 2020. Seafoodshipments to Egypt nosedived 35.6 percent year-on-year to 23.5 million USD,Hung said, compared to an 8.7 percent decline in overall exports to thecountry.
He attributed the steep decline to weakening demand for imported food ingeneral because of measures taken by the Egyptian Government to curb the spreadof the coronavirus, which have included night-time curfews, bans on gatherings,and closures of restaurants. Egypt’s policies limiting imports and boostingexports to bridge the trade deficit this year also represent challenges for Vietnameseseafood exporters, he added.
Vietnam’s tuna shipments, particularly canned tuna, have experienceddecent growth over the last several years. According to a report from theVietnam Association of Seafood Exporters and Producers (VASEP), canned tunaexports accounted for 2.29 percent of Vietnam’s total tuna exports to Egypt, or11.9 million USD, in the first three quarters of this year. The share was thesecond-highest in the Middle East and Africa, after only Israel.
Egypt imported 160 million USD worth of tuna last year, with 89.5percent, worth 145 million USD, coming from Thailand. Vietnam was second butwith just 5.6 percent of the market share, or 9 million USD, Hung continued, sopossesses major potential to increase tuna exports to the country, as COVID-19has made it evident that importers must diversify their supply sources.
Such trends are a “golden” opportunity for Vietnamese enterprises togain a stronger foothold in the market, he noted./.
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Illustrative photo. (Source: VNA)
