September 19, 2020
First batch of Vietnamese shrimp exported to EU under new trade agreement
Vietnam shipped the first batch of frozen shrimp exports to several countries in the European Union under EU-Vietnam Free Trade Agreement (EVFTA), which took effect on Aug. 1.
A ceremony was held before the shipment left the factory of shrimp processor Thong Thuan Co. in Ninh Thuan province on Sept. 11, the Vietnam News Agency reported.
During the ceremony, Carsten Schittek, head of trade and economic affairs at the EU Delegation to Vietnam, said the shipment of the first batch, which consisted of brackish-water shrimp, affirmed the success of shrimp farming, processing and exporting businesses of Vietnam.
Under the EVFTA, the EU will eliminate tariffs on 86.5% of Vietnam's aquatic product exports over the next three years, 90.3% in the four years thereafter, and 100% after seven years.
Agriculture and Rural Development Deputy Minister Phung Duc Tien said tariff removal under the EVFTA would create big opportunities for Vietnam's aquatic product exports, noting that orders for Vietnamese seafood has increased by around 10% since the start of August compared with July.
Frozen processed shrimp is one of the key export items of Ninh Thuan, accounting for 43.5% of the province's total shipments, and over 95% of the local shrimp exports come from the local branch of Thong Thuan.