Up to 90 percent of the tariff lines levied on this product type will be cut down to zero percent once the EVFTA is signed, excluding canned tuna and fish ball, with the longest roadmap of seven years. Experts said this is an excellent chance for the seafood sector to reach out to more markets. Secretary General of the Vietnam Association of Seafood Exporters and Producers (VASEP) Truong Dinh Hoe said the average import tariff on aquatic products exported to the EU is 14 percent, many of which are imposed with higher tariffs, up to 26 percent. When the EVFTA takes effect, nearly 840 basic tariff lines, making up about 50 percent of the tariff lines for aquatic products, will be reduced to zero percent; the remaining are subject to 3-to-7-year reduction roadmap. The EU will provide tariff quota for some Vietnamese special products such as canned tuna, 11,500 tonnes, and surimi, 500 tonnes. The enforcement of the EVFTA will push Vietnam's aquatic product exports to the EU market, Hoe said. He added that shrimp exports will be more optimistic because the tariff lines for this product will reduce sharply from the first year of the deal's enforcement, then gradually… Read full this story
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