Pangasius exports grow thanks to advantages from FTAs

Tuesday, 09/07/2024 11:37
Free trade agreements (FTAs) are considered an important step for the seafood industry, including pangasius, to “take off”, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Vietnam’s pangasius exports grew strongly thanks to free trade agreements. (Photo: NDO)

Thanks to making good use of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), in the first half of June 2024, Vietnam's pangasius export turnover to this market bloc reached 12 million USD, a year-on-year rise of 23%.

As of June 15, 2024, pangasius exports to the CPTPP market reached 114 million USD, a year-on-year increase of 10%.

Of which, Mexico imported the most Vietnamese pangasius with a value of 31 million USD, up 7%; Japan 18 million USD, up 35%; Canada 18 million USD, up 15% and Singapore 16 million USD, up 0.2% year on year.

In the last six months of 2024, pangasius exports to the CPTPP bloc are expected to continue to surge as prices and demand are gradually stabilizing.

Businesses need to improve their competitiveness and study the benefits from this agreement in terms of tariffs to seize opportunities and increase exports.

Besides the CPTPP market, frozen pangasius fillets are also the main product of Vietnam exported to the European Union (EU) with advantages from the Vietnam-EU Free Trade Agreement (EVFTA).

In the first five months, the EU bought 67 million USD worth of frozen pangasius fillets from Vietnam, accounting for 11% of the total value of the commodity.

The Netherlands imported the most Vietnamese pangasius in the bloc, worth nearly 2 million USD in the first half of June 2024, up 3% year on year. As of June 15, 2024, pangasius exports to the Netherlands posted nearly 21 million USD, down 9% year on year.

In addition to the Netherlands, some other markets recorded positive growth in Vietnamese pangasius imports as of June 15, 2024, such as Germany 17 million USD, 0.3%; Spain 9 million USD, up 27% and Belgium 8 million USD, up 10%./.