July 6, 2018
Reduced tariffs to boost Vietnamese catfish exports to China
Vietnam will be taking advantage of China's reduced tariffs on many kinds of aquatic products from members of the World Trade Organisation by intensifying export of tra fish to that country, the biggest market for this Vietnamese catfish.
The Vietnam Association of Seafood Exporters and Producers (VASEP) on Thursday said the recently reduced tariffs will create favorable conditions for Vietnamese firms to export more fresh and frozen tra fish as well as tra fish fillets to China, Xinhua reported.
VASEP added that the firms could strengthen export of added-value products to the neighboring country because the fish can be used for hundreds of recipes.
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VASEP said that from January to mid-May, Vietnam earned US$174.2 million from tra fish exports to China and that exports to that country have annually increased between 21% and 35% in the last five years.
According to the Xinhua report, many Vietnamese companies are intensifying tra fish exports to China through border trade as Chinese demand for tra fish for domestic consumption, especially at hotels, restaurants, schools and enterprises, surged recently.
Vietnam exported nearly $4 billion worth of seafood during the first half of this year, posting a year-on-year rise of 11%, said VASEP.