Vietnam’s tuna exports to EU see strong surge thanks to EVFTA
Vietnam exported 15,870 tonnes of tuna worth 73.33 million USD to the European Union in the first half of 2021, up 39.3 percent and 31.6 percent, respectively, against the same period last year, according to a journal published by the Ministry of Industry and Trade (MoIT).
Hanoi (VNA) – Vietnam exported 15,870tonnes of tuna worth 73.33 million USD to the European Union in the first half of 2021, up 39.3 percentand 31.6 percent, respectively, against the same period last year, according toa journal published by the Ministry of Industry and Trade (MoIT).
The tuna shipments accounted for about 15.1 percent ofVietnam’s total seafood export value to the EU.
In the second quarter of 2021, the country shipped 9,360 tonnes of tuna to this market, raking in 45.05 million USD, up 43.9 percent in volume and 59.3 percent in value from the previous quarter.
The surges were attributed to tariff reductions granted toVietnam’s tuna products under the EU-Vietnam Free Trade Agreement (EVFTA), which took effect on August 1, 2020.
A canned product of Vietnam (Photo: VNA)
According to the MoIT, Vietnamese tuna was sold at 4.62 USDper kg on average to the EU in the first six months of the year, down 0.27percent year on year. The global tuna prices have been declining on the back ofweakening demand of canned tuna during the period.
Significant growth was seen in a number of EU markets, includingPoland which recorded imports of Vietnamese tuna rocketing 989 percent involume and 608.6 percent in value, and Bulgaria, 289 percent and 229 percent,respectively.
Data from the European Statistical Office (Eurostat) showed that Vietnam was the EU’s eighthlargest provider of tuna outside the union in the first four months of 2021, making up a 4.9percent share of the EU’s total tuna imports, compared to 4 percent inthe same period last year.
The MoIT’s Agency of Foreign Trade warned that Vietnam’stuna shipments are likely to continue facing difficulties from the EU as a resultof the COVID-19 resurgence and the “yellow card” warning on the illegal,unreported and unregulated (IUU) fishing imposed by the EC on Vietnam./.
Large seafood enterprises have set higher revenue and profit targets this year thanks to positive growth prospects of the seafood export market, especially the US and EU.
Vietnam’s aquatic export is hoped to hit 9 billion USD in 2021 thanks to the recovery of consumption in key markets such as the US, the European Union (EU), and other potential markets.
Many businesses from Guangzhou city of China have shown their interest in importing Vietnamese aquatic products, according to Le Hoang Tai, Vice Director of the Vietnam Trade Promotion Agency (Vietrade) under the Ministry of Industry and Trade.
Vietnam’s aquatic product exports are likely to rake in 9 billion USD this year thanks to the implementation of new generation free trade agreements, according to experts.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Processing tuna for export (Photo: VNA) 
A canned product of Vietnam (Photo: VNA) 
