Tuna exports from Vietnam to the United Kingdom are expected to grow this year thanks to their free trade agreement that took effect from 31 December last year, the Vietnam Association of Seafood Exporters and Producers (VASEP) said in a statement on 3 February.
Vietnam exported tuna products worth nearly USD 7 million (EUR 5.8 million) to the U.K. in 2020, down 2 percent from 2019. VASEP attributed the decline to the negative impacts of the COVID-19 pandemic and the Brexit that have altered the consumption behaviors of the British customers.
The year-on-year export value went up in the months of January, March, April, July, August, September, and October; but fell in February, May, and December.
Vietnam mainly exports fresh and frozen tuna to the U.K., but shipments of canned tuna saw an increase last year to meet rising demand during the pandemic.
Vietnam was the fourth-largest non-E.U. supplier of tuna for the U.K over January-November 2020, after Thailand, the Philippines, and Indonesia. But because these three countries have not signed any free trade deal with the U.K., Vietnam is expected to reap benefits from the tax exemptions under the U.K.-Vietnam Free Trade Agreement (UKVFTA).
As part of the deal, the U.K. will give Vietnam an annual free-tax quota of about 1,566 metric tons (MT) of tuna products, VASEP said.
In contrast to tuna, exports of pangasius and shrimp from Vietnam to the U.K. rose significantly last year. The export value of pangasius to the U.K. surged 30.1 percent year-on-year in 2020 while sales of shrimp increased by 20.1 percent from 2019.
Vietnam shipped seafood products worth USD 344.9 million (EUR 286.2 million) to the U.K in 2020, 23 percent higher than USD 280.5 million (EUR 232.8 million) in 2019, according to Vietnam’s customs data.
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