Vietnam’s tuna exports to EU see strong surge thanks to EVFTA

Sunday, 26/09/2021 11:13
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, reported Vietnam News Agency according to a journal published by the Ministry of Industry and Trade (MoIT).

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Processing tuna for export (Photo: VNA)

The tuna shipments accounted for about 15.1 percent of Vietnam’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 to Vietnam’s tuna products under the EU-Vietnam Free Trade Agreement (EVFTA), which took effect on August 1, 2020.

According to the MoIT, Vietnamese tuna was sold at 4.62 USD per kg on average to the EU in the first six months of the year, down 0.27 percent year on year. The global tuna prices have been declining on the back of weakening demand of canned tuna during the period.

Significant growth was seen in a number of EU markets, including Poland which recorded imports of Vietnamese tuna rocketing 989 percent in volume 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 eighth largest provider of tuna outside the union in the first four months of 2021, making up a 4.9 percent share of the EU’s total tuna imports, compared to 4 percent in the same period last year.

The MoIT’s Agency of Foreign Trade warned that Vietnam’s tuna shipments are likely to continue facing difficulties from the EU as a result of the COVID-19 resurgence and the “yellow card” warning on the illegal, unreported and unregulated (IUU) fishing imposed by the EC on Vietnam.

Vietnamese writer wins Dayton Literary Prize for Peace 2021

The Dayton Literary Prize for Peace 2021 has honoured Nguyen Phan Que Mai, a female Vietnamese writer, for her work titled The Mountains Sing, reported the Voice of Vietnam.

Vietnamese writer Nguyen Phan Que Mai. (Phto: TTO)

Mai surpassed many other authors who have previously won prestigious awards such as Pulitzers and Bookers, to receive second prize for her novel in the fiction category of the competition.

The Mountains Sing is a story about historical events through the perspective of members of four generations of the Tran family.

The book not only clearly depicts the pain of loss and separation brought about by war, but it praises family love, the value of hope, and forgiveness.

Since its original publication back in March 2020, the novel has been translated into 10 languages and gone on to win six international awards.

Mai revealed that she aims to introduce some of the cultural traditions of Vietnamese people in order to help global readers gain greater insights into the nation’s cultural identities by using traditional poetry, proverbs, and culinary arts in her work.

Her second novel in English titled Dust Child will be published by Algonquin Books Publishing House in New York in the near future.

Overseas investments soar by 32.4% over nine-month period

Despite the complicated nature of developments relating to the COVID-19 pandemic, Vietnamese overseas investment during the opening nine months of the year surged by 32.4% on-year to reach USD572.3 million, reported the Voice of Vietnam according to the Ministry of Planning and Investment.

Vietnamese investors pour the majority of capital flow in the science and technology field

A total of 41 new projects received investment licenses, with registered capital reaching over USD150.1 million, equivalent to 55.9% compared to the same period from last year.

Furthermore, over USD422.1 million was poured into 15 capital adjusted and added projects, thereby representing a figure roughly 2.6 times higher than that of the same period last year.

This sharp rise in adjusted investment capital can largely be attributed to Vietnamese conglomerate Vingroup’s investment of USD300 million in a new project in the United States.

Elsewhere, Indochina Rubber Development and Investment Co., Ltd. project also moved to increase their investment capital of USD76 million in Cambodia, while Vingroup’s subsidiary automaker VinFast moved to expand their investment in its Germany-based project by USD32 million.

Throughout the reviewed period the majority of capital outflow was poured into 13 industries, with professional activities, science and technology taking the lead with over USD270.8 million. This was followed by the wholesale and retail sectors with over USD148.1 million, in addition to other fields such as agro-forestry-fisheries, administrative activities, and support services.

The initial nine months of the year also saw local investors inject capital into 20 countries and territories globally, with the US representing the leading destination for Vietnamese investment with USD302.8 million, thereby accounting for 52.9% of total investment capital.

Following behind the US, Cambodia ranked second with investment capital of USD89.4 million, thereby accounting for 15.6% of total investment capital, followed by Laos and Canada, with capital reaching USD47.8 million and USD32.1 million, respectively./.

Compiled by BTA

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