According to the Vietnam Association of Seafood Exporters and Producers (VASEP), Mercosur is a sub-regional bloc established in 1991 by countries including Argentina, Brazil, Paraguay and Uruguay.
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| Vietnam’s pangasius export is wide open to the Mercosur market. (Photo: congthuong.vn) |
Mercosur is a dynamic, competitive and developing economic and industrial region, with growing influence as the 5th largest economic bloc in the world. With an important geographical location in the East Asia and Asia-Pacific region, Vietnam is an important gateway for Mercosur countries to enter the ASEAN market.
Brazil is currently Vietnam’s largest trading partner in the Mercosur bloc and in Southeast Asia.
According to statistics from the General Department of Customs, in the first half of June, Vietnam’s pangasius export turnover reached 4 million USD, up 5% year on year. Export of the commodity in the first half this month reached 50 million USD, up 47% year on year.
Since the beginning of this year, Brazil has almost only imported frozen pangasius products and frozen pangasius fillets from Vietnam with HS code 03046200. The largest pangasius supplier to this market in the first five months of this year is Hung Ca 2, accounting for 19% of the value proportion.
In addition, Vietnamese pangasius exports to markets in the bloc are considered to have high potential. By the end of May, pangasius exports to Argentina reached nearly 1.5 million USD (up 238%) and Uruguay posted over 700,000 USD (up 2%).
Meanwhile, Paraguay is still quite limited in importing pangasius from Vietnam. This country is a major exporter of agricultural products, livestock and electrical energy in the world. Currently, Vinh Hoan is the only Vietnamese enterprise exporting to this market in the first five months this year.
Due to geographical distance and language differences, there is no direct freight or passenger transport route, leading to high logistics costs for goods from Vietnam to this market and the two sides have not had a free trade agreement.
Therefore, VASEP expects that with the potential, Vietnam and the Mercosur market block will soon have the first FTA, paving the way for export trade cooperation between the two sides, including pangasius export./.