Photo for illustration. (Source: vneconomy.vn)
According to the agreement, some processed products with high basic tariffs when exported to the EU will be immediately reduced to 0%, such as oysters, scallops, squid, octopus, clams and processed abalone.
Additionally, Vietnamese lobster, frozen or smoked sugpo prawn (without shells), dried fish (salt or brined), smoked fish and tuna of all kinds exported to the market will be cut to 0%. Currently, these items are subject to 8%-22% tariffs.
The EU is now the second biggest seafood market of Vietnam, making up more than 17% of the total export value. Of this, shrimp accounts for 22% of market share, tra fish 11% and other seafood products 30%-35%./.