Consulting on exporting seafood to RCEP market

The Trade Promotion Department organizes a seafood export consultation session to the RCEP market to help businesses find out information and explore cooperation opportunities.

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Seafood exports are always in the top of the industry to take advantage of incentives from free trade agreements, including the Regional Comprehensive Economic Partnership (RCEP).

In order to take advantage of the incentives and increase the efficiency of seafood exports to this market, on May 27, the Trade Promotion Department (Ministry of Industry and Trade) will hold a consultation session on exporting seafood to RCEP market.

At the consultation session, the representative of the Vietnam Trade Office in China, Laos, Malaysia and Singapore will present an overview of the seafood market, and issues related to access to and application of regulations, standards and conditions for exporting aquatic products to these markets.

It is estimated that the total number of countries participating in RCEP accounting for about 30% of global GDP and 30% of the world's population. This will create a market of 2.2 billion people, equivalent to USD 26.2 trillion, creating the world's largest trade area.

The effective RCEP opens up opportunities for Vietnamese seafood exporters to join new production and value chains in the region. At the same time, it helps enterprises to promote seafood exports to member countries' markets, especially when exporting to leading trading partners such as Japan, Korea, China... thanks to the easing of established rules of origin.

Consulting on exporting seafood to RCEP market

The seafood export consultation session will provide a lot of information about the RCEP market for businesses

Currently, Vietnam exports seafood to more than 160 markets around the world, of which exports to RCEP member countries (accounting for 63.5% of Vietnam's seafood export market share) including ASEAN (6.7%) and South Korea (9.2%), while exports to China (16.5%) grew the most, exports to Japan (16.8%) also maintained a positive growth.

Achievements in the past years are the marks to affirm the position of Vietnam's seafood industry, which will be one of the industries with enough competitiveness and can penetrate more strongly into the member countries of RCEP.

Besides advantages, RCEP also brings competitive pressures on seafood products. This requires seafood businesses to be proactive to adapt, strive to conquer, and turn challenges into opportunities.

Ms. Nguyen Thi Thu Thuy, Deputy Director of the Export Support Center (Department of Trade Promotion), said that participating in the seafood export consultation session to RCEP markets is an opportunity for Vietnamese seafood enterprises to carefully study market requirements, technical barriers of RCEP countries to have effective and sustainable export promotion measures to these markets in the coming time.

The consulting session on exporting seafood to RCEP markets is the 17th session in a series of 30 consultation sessions under the "Program to guide and assist businesses in accessing and applying regulations, standards and conditions for export and import goods to foreign markets and international commitments on exported and imported products organized by the Trade Promotion Agency in 2022.

Viet Nga

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