The European Union (EU) was the largest market of Vietnamese shrimp in the first two months of 2019, according to the Vietnam Association of Seafood Entrepreneurs (VASEP).
The European Union (EU) was the largest market of Vietnamese shrimp in the first two months of 2019.(Photo: VNA)
Hanoi (VNA) – The European Union (EU) was the largest market ofVietnamese shrimp in the first two months of 2019, according to the VietnamAssociation of Seafood Entrepreneurs (VASEP).
During January-February, export value of Vietnamese shrimp fell year-on-year by15.2 percent to 373.6 million USD. Accounting for 20.5 percent of total exportturnover, the EU secured its position as biggest buyer of Vietnamese shrimp.Within the EU, the UK, the Netherlands and Germany were the top purchasers.
White-leg shrimp continued to occupy a key position in thismarket, making up 82 percent of total shrimp shipments.
Spending 67.7 million USD on Vietnamese shrimp in the period,Japan was the second largest buyer. Experts have said that shipments to theEast Asian country have shown audacious signs from the outset of the year, withthe Comprehensive and Progressive Agreement for Trans-Pacific Partnership(CPTPP) taking effect from January, and completion of tax reduction progressunder the Vietnam-Japan Economic Partnership Agreement (VJEPA). Local firms maybolster exports to the market as Japan has applied a zero percent tariff onVietnamese seafood.
Meanwhile, China ranked third by spending 62.3 million USD on Vietnameseshrimp. Currently, Vietnam is the sixth largest shrimp supplier for China with5.7 percent of the market share.
VASEP eyes more than 4billion USD in shrimp exports this year thanks to free trade agreements. It said theshrimp sector would make a breakthrough in exporting to 28 EU countries –enjoying low import tariffs once the EU-Vietnam Free Trade Agreement takeseffect – for an estimated export value of 1 billion USD.-VNA
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The European Union (EU) was the largest market of Vietnamese shrimp in the first two months of 2019.(Photo: VNA) 
