According to Economy and Consumption
Since February, the UK officially left the EU and became a potential market for Vietnamese seafood because while exports to EU member countries decreased sharply due to the impact of Covid epidemic, exports to this market increased. high growth.
As of the end of September 2020, export seafood to the UK increased by nearly 23% to nearly 258 million USD, of which shrimp and pangasius were the two main items increased (up 19% and 27% respectively) over the same period last year.
Besides, export tuna, other marine fish and crab also increased by 6%, 101% and 55% respectively.
Export Pangasius to the UK has a breakthrough in product structure, accordingly export Processed pangasius surged more than 15 times over the same period last year to reach USD 16 million, accounting for 33% of the total export Pangasius, while in 2019 only 3%.
Besides, the UK also increased strongly import processed and frozen products such as processed whiteleg shrimp (up 33%), processed tiger shrimp up 456%, canned crab and crab by 61%, frozen fish fillet up 127% …
In 2020, the UK is also in the top 10 markets import Vietnamese seafood with billions weight over 4%. In 2020, although the UK is out of the EU, but export Seafood products exported to this market will still enjoy tax under the EVFTA agreement until January 312.
Currently, the UK is planning sign Free trade agreements with countries including Vietnam. If the two countries reach an agreement, the FTA with the UK will be based on a continuation mechanism of the EVFTA agreement with the same terms as the EVFTA.
Negotiated trade deals could lower taxes on traded products and give homeowners an edge. export from countries with commercial transactions.
VASEP argues that Brexit is in need of some attention reason due. For those businesses that see the UK as the main market, if there is no FTA, once Brexit does not reach an agreement, current transactions with the European Union will not be able to continue.
Additionally, if a competitor negotiates and has a new deal with the UK, it may give them an advantage in market access.
England is 1 of 7 countries import the largest number of seafood products in the EU, but also the country export ranked 8th in the intra-bloc over the years with value import increase from 4 to 4.5 billions USD in the past 5 years.
However, this country also export fisheries also increased from 2 to 2.6 billions USD, in which separately export internal block accounts for about 1.6 to 1.9 billions USD (accounting for 70-80%).
Currently, the EU’s fishing mainly takes place in the waters of the UK and UK revealed that after Brexit comes true early next year, the UK will be a new independent coastal country, they want Take control of your own waters and fish.
The EU countries and the UK are trying to come to a suitable fisheries agreement reasonHowever, it is a sensitive issue that is not easy to reach consensus between the UK and the EU member states.
Therefore, in the situation that EU and UK cannot come to a proper agreement reason, UK trade with the EU will be difficult, and at the same time, EU production will drop sharply. Meanwhile, demand import EU seafood with foreign countries will increase.
VASEP believes that this will be an opportunity for Vietnam and other countries export seafood increases market share in the EU.
For the UK market, the withdrawal from the EU does not affect trade with non-EU countries because of tax policy import UK tariffs are unchanged from EU tariffs.
UK seafood demand is forecasted to remain stable and possibly increase for farmed seafood products.
