Tuna exports skyrocket thanks to effective FTA enforcement

VOV.VN - Local tuna exports reported a spike during the initial months of the year due to tuna exporters taking full advantage of opportunities from new trade agreements such as the EU-Vietnam Free Trade Agreement and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.

According to data compiled by Vietnam Customs, after skyrocketing 108% to reach US$88 million in the initial month of the year, tuna exports in February continued to grow at a high rate of 57%, reaching US$67 million in the process.

This figure stands at nearly double of that recorded in February, 2019, the period before the outbreak of the COVID-19 pandemic.

According to Nguyen Ha, tuna market expert, the opening two months of the year witnessed Vietnamese tuna exports reach US$155 million, up 82% over the same period from 2021. In order to achieve this figure, local businesses have effectively capitalised on opportunities from new trade agreements such as the EU-Vietnam Free Trade Agreement (EVFTA) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

Accordingly, throughout the reviewed period, besides the US market which increased sharply by 99% with turnover of US$80 million, local tuna exports to markets which have signed new generation FTAs with the nation were also on a sharp upswing. Of this the CPTPP market saw tuna exports to Canada expand by 52%, whilst those to Chile grew by 99%. Elsewhere, tuna exports to the EVFTA bloc increased sharply, with the Netherlands seeing a 114% climb, and Belgium recording a rise of 163%.

Most notably, exports to the majority of markets in the EU showed a drastic upturn. In late February, Vietnamese tuna export value to the EU reached approximately US$24 million, an annual rise of up 52%. The Netherlands, Germany, and Belgium currently represent the three largest importers of Vietnamese tuna during the two-month period.

In terms of the figure, the Netherlands has risen from fourth position to be the largest import market in the EU for Vietnamese tuna,  accounting for 3% of the nation’s total. Unlike 2021, this year has seen Vietnamese exports of fresh, frozen, and dried tuna increase sharply. The proportion of this item's export value as part of the total tuna export value in the first two months of the year reached nearly 69% to fetch US$106 million.

Currently, more than 110 enterprises have engaged in tuna export activities. Of which, Bidifisco, Dragon Waves, Mariso Vietnam, Tithico, and Havuco are the five firms with the largest export value in the country, accounting for 39% of total tuna export value of the nation.