Seafood enterprises advised to fully tap into Russian market

VOV.VN - With Vietnam’s aquatic market shares in Russia accounting for less than 2% of the country’s total seafood export turnover, local firms have been advised to strive to fully tap into the Russian market thanks to tax incentives from the Vietnam-EAEU free trade agreement.

The Vietnam Association of Seafood Exporters and Producers (VASEP) has stated that Vietnamese seafood exports to Russia by the end of November last year surged by 27% to reach nearly US$150 million against the same period from 2020.

With the preferential tariffs set out under the terms of the Vietnam-EAEU free trade agreement, Vietnamese aquatic products have been increasingly competitive within the Russian market.

Despite these strengths, To Thi Tuong Lan, deputy secretary general of the VASEP, revealed that after five years of implementing the trade deal, the number of local enterprises licensed to export goods to the demanding market has been limited due to complicated registration procedures.

This is in addition to other factors such as high freight rates and Russia’s stringent regulations over food safety and product quality under the terms of the trade pact.

As a means of promoting aquatic exports to the Russian market, Lan emphasised the necessity of strengthening co-operation to remove hurdles, promoting bilateral payments in local currencies, and launching rail services to ease the pressure on the sea route.

Lan went on to suggest that the Russian Federal Service for Veterinary and Phytosanitary Surveillance allow additional Vietnamese seafood enterprises to enter the Russian market in the coming time.

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