VIETNAM’S SHRIMP MARKET BENEFITS FROM EVFTA

The EU-Vietnam free trade agreement (EVFTA) has been officially approved It is creating opportunities for many agricultural products of Vietnam to import into EU market.

Image : Shrimp is considered as one of the most advantageous agricultural products due to the tax exemption to EU instead of the current rate of 4.2% or 7%. Meanwhile, this item from India and Thailand into EU is still subject to these tax rates. Therefore, this is considered a good opportunity to increase the competitiveness of Vietnamese shrimp in the EU market. In 2019, Vietnam’s shrimp exports to EU are estimated at more than 696 million dollars. Enterpises consider that EVFTA would help shrimp exports to the EU increase by 4 to 6% in 2020.