Aquatic businesses have begun to feel the windfall from the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which came into force in Vietnam from January 14, 2019.
Vietnamese shrimp exports to Japan also posted a yearly increase of 1.4 percent to reach 121.7 million USD in the first three months of 2019. (Photo: VNA)
Hanoi (VNA) – Aquatic businesses havebegun to feel the windfall from the Comprehensive and Progressive Agreement forTrans-Pacific Partnership (CPTPP), which came into force in Vietnam from January14, 2019.
According to the Agro Processing MarketDevelopment Authority (AgroTrade) under the Ministry of Agriculture and RuralDevelopment, the aquatic sector raked in 2.5 billion USD from exports in thefirst four month of 2019, showing a year-on-year rise of 2.4 percent.
In the first quarter of this year, aquaticexports rose 1.6 percent to 1.79 billion USD. Exports to 10 CPTPP countriesreached 502 million USD, up nearly 15 percent. High growth was seen in exports to Japan, Canada, Mexico, and Malaysia.
Mexico is one of the new markets that the CPTPP hasbrought to Vietnam, which imported 38 million USD worth of aquatic products, upover 26 percent. Meanwhile Malaysia imported 32 million USD, up nearly 33percent.
In January-March, Vietnam exported 8.58 millionUSD worth of tra fish to Japan, a sharp increase of 60.37 percent against thesame period last year.
Vietnamese shrimp exports to Japan also posted ayearly increase of 1.4 percent to reach 121.7 million USD in the first threemonths of 2019.
The CPTPP was signed by 11 member states, namely Australia, Brunei, Canada,Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam inMarch 2018.
This is one of the most comprehensive tradedeals ever concluded and strips 98 percent of tariffs for the 11 member countries,with a combined GDP of more than 13.8 trillion USD and close to 500 millionconsumers.
CPTPP member states form a giant market with 500million consumers, accounting for 15 percent of the global trade turnover. –VNA
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Vietnamese shrimp exports to Japan also posted a yearly increase of 1.4 percent to reach 121.7 million USD in the first three months of 2019. (Photo: VNA) 
