Ceremony of ocean tuna export to European market under EVFTA Agreement (25-12-2020)

On October 10, 2020, in Suoi Dau industrial zone, Cam Lam District, Khanh Hoa Province, Mr. Phung Duc Tien - the Deputy Minister of Agriculture and Rural Development, the representatives of Khanh Hoa Provincial People's Committee, and The Embassy of Spain cut the export tape of 48 tons of tuna of Hai Vuong Co., Ltd (Khanh Hoa) to Spain.
Ceremony of ocean tuna export to European market under EVFTA Agreement

Hai Vuong Co.,Ltd is a typical enterprise in fishery export with 9 months of 2020 reaching 181 million USD, of which the European Union (EU) market is 46.8 million USD. In particular, from August 1, 2020, when the EVFTA (EU-Vietnam Free Trade Agreement) came into force, the export value in August and September in 2020 to the EU was 16 million USD, had an average of 8 million USD per month, which was an increase of 1.5 times compared to the average of the first months of the year.

At the ceremony, Mr. Nguyen Huu Hoang - the Vice Chairman of Khanh Hoa Provincial People's Committee appreciated Hai Vuong Co., Ltd as a pioneer in exporting tuna to The European market under the EVFTA Agreement. In order to receive opportunities from the EVFTA Agreement and motivate agricultural exports, Khanh Hoa Provincial People's Committee pledged to continue to accompany and create maximum support for agricultural and aquaculture exporters to promote production in a sustainable way, improve products’ productivity and quality, and ensure the requirements of the EU market.

The representative of Hai Vuong Co., Ltd said: Regarding 220 seafood items with base tax rate of 0 - 22%, tax from 6 - 22% will be about 0% from August 1. Particularly, fillet and loin frozen tuna’s basic tax rate from 18% will be reduced to 0% according to the 3-year roadmap; canned tuna’s tariff quota for Vietnam is 11,500 tons/year. This is an opportunity for businesses to expand their markets and take advantage of competition with competitors such as Thailand who are subject to a tax rate of 18-24%.

Hai Vuong Co., Ltd was established in 1997. After 23 years of establishment and development, Hai Vuong Co., Ltd, from a small processing plant with several dozen employees, has now developed 5 tuna processing plants in Khanh Hoa province with more than 3,000 employees. The factories are all built with modern equipment and lines to meet the requirements of the EU market and the world. Along with that is the system of representative offices in the EU, USA, and Russia contributing to the thorough research of the demand for fishery products, especially tuna products.

Annually, the company exports more than 60,000 tons of tuna products to more than 50 countries and territories worldwide. Annual sales are estimated at 310 million USD, of which 280 million USD comes from tuna products. The EU is the largest consumer market which accounts for over 25% of total exports.

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