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| Illustrative photo (Source: baodautu.vn) |
According to VASEP, in the UK market, Vietnam is the 13th largest tuna supplier, while Ecuador, Mauritius and Seychelles lead this market.
The reason is that this year, the prolonged El Niño phenomenon causes a rainfall decrease at the Panama Canal, thereby affecting the transportation of goods from South American countries to European countries through the Panama Canal. Shipping companies must choose alternative routes with thousands of additional kilometers of travel distance.
"Therefore, it can be said that this is an opportunity for Asian countries, including Vietnam, to increase tuna exports to European countries, including the UK," VASEP said.
According to statistics from Vietnam Customs, after a sharp decrease of 51% in May 2023, Vietnam's tuna exports to the UK increased in the following 2 months. This growth has contributed to raising Vietnam's total tuna export turnover to the UK in the first 7 months of 2023 to 77% higher than the same period in 2022, reaching more than USD4.5 million.
VASEP believes that Vietnamese tuna products in markets like the UK will still retain their competitiveness thanks to the advantages of the Vietnam-UK Trade Agreement (UKVFTA).
In addition, on July 16, the UK signed an agreement and officially became the 12th member of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). The UK's accession is expected to boost trade between this country and members of the CPTPP bloc, including Vietnam.
"Along with UKVFTA, incentives from CPTPP will open up opportunities for Vietnamese seafood products to enter the UK market, including tuna," VASEP expressed.
In the first 7 months of 2023, Vietnam's tuna exports were reported at 28% lower than the same period, reaching USD458 million. Demand in some main markets was still low, affecting Vietnam's tuna exports. In particular, the US is the largest export market for Vietnamese tuna, which recorded a decrease in export turnover of up to 49% compared to the period of 2022, down to USD171 million. However, tuna export activities recorded positive growth in some other markets such as the UK, the Republic of Korea, Thailand and Germany./.