Mexico - 8th largest tuna import market of Vietnam

Photo: TCCT

According to statistics of the General Department of Customs, Mexico mainly imports tuna meat and loin from Vietnam, accounting for 74% of total export value, the rest is other processed tuna products.

Currently, the Mexico and Vietnam markets are quite similar to each other. Many key products of Vietnam have opportunities to penetrate the 11th most populous market in the world, especially after the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) came into effect.

Accordingly, the tax of frozen tuna loin/filet products with HS code 0304 from Vietnam exported to Mexico are currently being reduced from the base tax rate of 20% to 0%. Other processed tuna products are exempt from tax when imported into Mexico.

According to Mr. Luu Van Khang, Commercial Counselor, Vietnam Trade Office in Mexico (concurrently Guatemala, Honduras, El Salvador, Belize), Mexican people strongly consume products that have been preliminarily processed or processed in supermarkets or convenience stores, so this item has high potential among Vietnamese seafood products.

According to VASEP, in 2022, Vietnam's tuna exports reached the target of USD1 billion, an increase of 34% compared to 2021. This was also the first time the tuna industry achieved an export value of billions of USD. This result contributed to the seafood industry's export turnover of USD11 billion in 2022./.