December 22, 2008

Vietnam sees increased seafood exports to Japan

Vietnam's seafood exports to Japan may increase sharply due to tax cuts and tariff exemptions being applied to more than 80 percent of its agro-fishery export value to Japan, according to the Vietnam Association of Seafood Exporters and Processors (VASEP).

This is one of the results of the ASEAN-Japan Comprehensive Economic Partnership (AJCEP) Agreement signed in Japan on December 1 this year.

The agreement has created favourable conditions for the export of Vietnamese staples.

Vietnam will work with Japan to establish a cooperative committee to address problems related to food safety and quality, while Japan will provide assistance to Vietnam in constructing a seafood facility which meet international food hygiene standards.

Japan was the second biggest importer of Vietnamese seafood in the first 10 months of 2008, with total expenditure of US$693 million, accounting for 18.1 percent of Vietnam's total seafood export revenue, and up 14.4 percent on year.