Binh Thuan to promote seafood exports to EU following EVFTA

14/11/2020, 06:21

 BTO-Binh Thuan’s fishery industry has a yearly productivity of over 200,000 tons, with the large number of companies specializing in processing seafood products for exports. Some key export products of Binh Thuan including dried and frozen marine products have been exported to foreign markets.

Over the past few months, export activities have suffered the impact of Covid-19 pandemic, leading to decline of export orders from key markets such as: China, Japan, South Korea.... Obstacles in trade and exportsof marine products have directly affected living of labour forces and fishermen households. The European Union-Vietnam Free Trade Agreement (EVFTA), which came into effect on August 1, has created possitive signs for Vietnam’s seafood exports, and since then, seafood volume exported to EU markets has raised dramatically.  Thanks to EVFTA, Vietnam is expected to enjoy EU’s tariff incentives for exports of goods, especially seafood products. Being a key export product of Vietnam to European markets, seafood will enjoy preferential advantages, with the commitment of cut-off up to 90% of the tariff lines of marine products in the longest schedule of 7 years. Vietnam’s seafood products will be more attractive than those from other countries, such as: India, Thailand, which have not signed free trade agreements with EU.

Over the past year, seafood exports of Binh Thuan have developed rapidly to make significant contributions to the whole country’s export revenues. In period 2016-2019, the province’s export turnover posted an average growth rate of 8.75% per year. Currently, the locality is focusing on some advantageous products, such as: garment, dried and frozen seafood, agricultural products (dragon fruit, cashew nut, vegetable…), footwear,  wooden furniture, automobile parts, high-quality paper… In which, seafood have been considered as a main export product. On September 11, the first frozen shrimp lot of Vietnam exported by Thong Thuan Co., Ltd (Vinh Hao-Tuy Phong-Binh Thuan)  was approved to be exported to EU with zero percent export duty. Before joining EVFTA, tax rates of  frozen shrimp exported to EU markets valued at 12-20%. Currently, the frozen shrimp lots shipped to EU under EVFTA treaty have been certified ASC standards. One month after EVFTA took effect, Vietnamese exporters have seen increases in orders from EU.

Enterprises exporting seafood exported to EU markets must invest in advanced technologies to modernize production lines and diversify products. In the coming time, Vietnam will boost efforts in removing EU’s “yellow card” warning for illegal, unreported and unregulated fishing and take advantage of tax incentive brought by EVFTA to grow seafood export to EU.

Agriculrural and rural development sector in Binh Thuan has deployed a series of policies to encourage enterprises to join production chains to boost trade promotion  activities and expand export markets.

Translated by Phuong Lan (Source: Binh Thuan Newspaper)


Related articles

(0) Comments
Focus
Linking Destinations and Tourism Service Products for Development
BTO – Expected in early June 2025, Binh Thuan province, in collaboration with Lam Dong and Dak Nong provinces, will organize seminars on tourism product development and destination surveys. These efforts aim to stimulate tourism growth in 2025 under the theme “Binh Thuan – Endless Experiences"
Do not miss
  • When the Guns Went Silent: Arsenal Stumbles vs. PSG
    29 yesterday Sports
    BTO-Arsenal and PSG, both chasing their first-ever Champions League title, were set for a historic breakthrough this season. But Arsenal’s hopes took a major hit with a 0-1 home loss to PSG in the first leg of the semifinals, leaving...
  • "El Pulga" Alone Can’t Secure Glory
    29 yesterday Sports
    Lionel Messi is currently playing for Inter Miami in Major League Soccer (MLS). With his exceptional talent, "El Pulga" has played a vital role in turning the young club into a rising power. However, Messi alone cannot carry an Inter...
  • Falling at the "Gates of Heaven
    one month ago Sports
    BTO-Carlos Alcaraz displayed remarkable form and composure throughout the 2025 Barcelona Open. The Spanish star made his way to the final without dropping a single set. However, at the final hurdle, the "Mini Nadal" stumbled at the...
  • Colorful Áo Dài and Folk Dance Showcase Marks 50 Years of Liberation
    one month ago Culture
    BTO – On the morning of April 26, the Bình Thuận Provincial Women's Union organized a mass Áo Dài and folk dance performance at Nguyễn Tất Thành Square in Phan Thiết City, featuring the participation of 600 female officials, members,...
  • Farewell to the “Bavarian Giants”
    one month ago Sports
    BTO-After a courageous 2-1 victory in the first leg of the Champions League quarterfinals, Inter Milan returned home to host Bayern Munich in the second leg. Though a one-goal lead was far from secure, the Italian side left no room...
  • No Miracle at Signal Iduna Park
    one month ago Sports
    BTO-Barcelona has a reputation for collapsing under pressure, having twice squandered significant first-leg advantages in the Champions League knockout stages. That gave Dortmund hope for a dramatic comeback at Signal Iduna Park in...
  • Phan Thiết – The 50-Year Journey: From Liberation to a Dynamic, Modern Coastal City
    one month ago Business
    April 19, 1975 – April 19, 2025: A proud 50-year milestone since the liberation of Phan Thiết. Half a century may not be long in the grand flow of history, but for Phan Thiết—a land once scarred by war—it marks a powerful transformation....
  • Red Devils Hold Off Blue Tide in Manchester Derby Stalemate
    one month ago Sports
    BTO-On the night of April 6, a classic Manchester derby unfolded at Old Trafford in Matchweek 31 of the Premier League, where Manchester United and Manchester City clashed in a high-stakes encounter. Despite having little left to fight...
  • Nou Camp Nightmare: Dortmund Swept Aside by Ruthless Barca
    one month ago Sports
    BTO-Barcelona put on a dominant display in the UEFA Champions League quarterfinal first leg, thrashing Borussia Dortmund 4-0 in a one-sided encounter at the Nou Camp. The Catalan giants delighted their home crowd with a goal-fest, featuring...
  • Liverpool Bounces Back with Vital Victory Over Everton, Keeping Arsenal at Bay
    2 month ago Sports
    BTO-After consecutive failures in the FA Cup, Champions League, and League Cup, the morale of Arne Slot's squad has been declining. Facing pressure following Arsenal's victory in the early match the day before, Liverpool was compelled...
  • The Beauty of Hòn Cau Island
    2 month ago LANDSCAPES
    March signals the perfect time for a visit to Hòn Cau Island (Phước Thể, Tuy Phong) as the weather transitions and the golden sunlight bathes the island. Located about 110 km from Phan Thiết, Cù Lao Câu is a pristine, uninhabited island...
  • The Final Goal
    2 month ago Sports
    BTO-Manchester City now only has one goal left: winning the FA Cup to salvage what has been a “disastrous” season. As a result, Coach Pep Guardiola and his players have put all their energy into the world’s oldest football tournament....
  • Regaining the Top Spot
    2 month ago Sports
    Playing a day before their arch-rivals Barcelona, Real Madrid took full advantage of the opportunity to reclaim the top spot in La Liga with a comfortable 2-1 victory over Villarreal, thanks to a brace from Mbappe.
  • A Hard-Fought Victory
    2 month ago Sports
    BTO-On the evening of March 19, the Vietnam national team played their first international match since winning the AFF Cup 2024, hosting Cambodia in a friendly at Gò Đậu Stadium (Bình Dương). Given their superior standing, a victory...
  • Farewell to the "King of Cups"
    2 month ago Sports
    BTO-After suffering a 1-0 home defeat in the first leg of the Champions League Round of 16, the French football powerhouse PSG was under immense pressure to win the return leg away at Liverpool. And they did just that, securing a place...
  • Surrendering the Title
    2 month ago Sports
    BTO- The highlight of Premier League Matchweek 28 was the showdown between Manchester United and Arsenal at Old Trafford. Arsenal desperately needed a victory to keep up with Liverpool, but they could only manage a draw, while the league...
  • Even Djokovic Can’t Defy Time
    2 month ago Sports
    BTO-Novak Djokovic has just suffered a defeat against Botic Van De Zandschulp in the second round of  Indian Wells 2025, marking the first time in seven years that he has lost three consecutive matches. At 37 years old, Djokovic is...
  • Binh Thuan Province to cooperate with Sun Group to unlock its Tourism Strengths
    BTO – On early March, the Standing Committee of the Provincial Party Committee and the People's Committee of Binh Thuan Province held a meeting with Sun Group regarding investment cooperation.
  • The King Has Fallen: Man Utd Crash Out of FA Cup
    2 month ago Sports
    Recently, Manchester United’s FA Cup title defense came to a crushing end as Fulham stunned the Red Devils in a dramatic penalty shootout to secure their place in the quarterfinals. Heading into the fifth-round clash at Old Trafford,...
  • Sunset Slope: Phan Thiet’s Hidden Gem for Breathtaking Views
    2 month ago LANDSCAPES
    BTO – Still in the heat of the first two lunar months, Sunset Slope on Co Mountain has become a renowned sunset-watching spot in Phan Thiet. Located in Phu Hai Ward, this stunning location offers breathtaking views of the mountains...
POWERED BY ONECMS - A PRODUCT OF NEKO
Binh Thuan to promote seafood exports to EU following EVFTA