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European Union Becomes Vietnam’s Top Importer


Vietnam’s shrimp exports to the European Union market reached $483.6 million in the first eight months of 2017, a rise of 30 percent over the same period in 2016, making the EU the top market for Vietnamese shrimp, a position formerly held by Japan.


According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the leading European importers of Vietnamese shrimp are the United Kingdom (EU), the Netherlands and Belgium.


Currently, Vietnam’s major competitors in the EU shrimp market are India and Ecuador.  While India is reducing shrimp exports to the EU, Ecuador and Vietnam are paying greater attention to them.


The free trade agreement between Ecuador and the EU, which took effect on January 1, 2017, has changed Ecuador’s tax rate from 3.6 percent to zero.


A Vietnam-EU free trade agreement is expected to become law in 2018.


Source:  EU Becomes Vietnam’s Top Shrimp Importer.  September 29, 2017.

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