Shrimp processed at Cửu Long Seafood JSC in Trà Vinh Province’s Trà Vinh City. Việt Nam ranks second globally in shrimp exports, with a market share of 14 per cent, only behind India (15 per cent). — VNA/VNS Photo Vũ Sinh HCM CITY — The seafood industry must envision a long-term strategy to make full use of new trade pacts and prepare for problems that might arise when they take effect, Trương Đình Hòe, VASEP general secretary, said. “Two major trade agreements will result in lower tariffs imposed on Vietnamese goods, but domestic enterprises will also face competition with foreign rivals in addition to stringent regulations on product quality and trace of origin,” he said. Hòe was speaking at a conference in HCM City on Wednesday on the challenges and opportunities faced by the seafood sector under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which took effect in January, and the EU-Việt Nam Free Trade Agreement (EVFTA), which is expected to be approved by the EU Parliament late this year or early next year. The EVFTA, which was signed by Việt Nam in June, will cut tariffs on 99 per cent of goods traded between the two sides. Việt Nam’s agriculture and seafood exports, as well as other industries in which the country has strengths, are expected to… Read full this story
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