Ceremony of tuna export to Europe under EVFTA Agreement (17-12-2020)

On 10 October 2020, at Suoi Dau Industrial Park, Cam Lam District, Khanh Hoa Province, Vice Minister of Agriculture and Rural Development Phung Duc Tien and representatives of Khanh Hoa Provincial People's Committee, the Embassy of Spain to Vietnam cut a ribbon of exporting 48 tons of tuna from Hai Vuong Company Limited (Khanh Hoa province) to Spain.
Ceremony of tuna export to Europe under EVFTA Agreement

Hai Vuong Company Limited is a typical enterprise with seafood export value of USD 181 million in nine months of 2020. Of which, export to the EU market was USD 46.8 million. Especially, since August 1, 2020, when EVFTA (Vietnam - EU Free Trade Agreement) took effect, Hai Vuong’ export value in August and September 2020 to the EU was USD 16 million, increasing by 1.5 times higher than a monthly average of the first months of this year.

At the ceremony, Mr. Nguyen Huu Hoang, Vice Chairman of Khanh Hoa Provincial People's Committee acknowledged Hai Vuong Co., Ltd. as a pioneer in exporting tuna to EU market under the EVFTA Agreement. In order to take opportunity from EFVTA and motivate agricultural exports, Khanh Hoa Provincial People's Committee commits to accompany, create support conditions for agricultural and fishery exporters to promote development of agricultural and fisheries production towards sustainability, improvement of productivity and product quality meeting requirements of the EU market.

According to a representative of Hai Vuong Co., Ltd., with 220 seafood items with base tax rate of 0 - 22%, of which the high tax from 6 - 22% will be about 0% from August 1st 2020, a basic tax rate of frozen tuna fillet and loin will be reduced from 18% to 0% according to the 3-year roadmap. Tariff quota for canned tuna exported to EU will be 11,500 tons per year. It can be said that this is an opportunity for establishments to expand the market and take advantage of competition with other competitors such as Thailand, which are subject to a tax rate of 18 - 24%.

Hai Vuong Co., Ltd was established in 1997. Over 23 years of development, Hai Vuong Comapny has developed five tuna processing factories in Khanh Hoa provine with more than 3,000 employees. All the factories have been built with modern equipment and lines to meet requirements of the EU market and the world. Moreover, the Company has formed its system of representative offices in the EU, the US, and Russia to meet demand for seafood products, especially tuna products, in such the markets.

Every year, the Company exports more than 60,000 tons of tuna products to over 50 countries and territories around the world. Annual sales are estimated at USSD 310 million, of which USD 280 million from export of tuna products. The EU is the largest consumer market, accounting for over 25% of total export sales of the company.

                                                                                       Nam Anh

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