Vietnamese seafood exported to EU receive zero-percent import duty from August 1

Import tariffs on seafood exported into the EU from Vietnam will be reduced to zero percent as of August 1 this year when the EU-Vietnam Free Trade Agreement officially takes effect.

According to this agreement, some processed products, including oysters, scallops, squids, octopus, clams, and abalones, with high base tariffs when being exported to the EU market will be immediately cut to zero percent. Besides, Vietnamese lobsters, peeled frozen or smoked tiger shrimps, dried fish, smoked fish, and tunas, when being exported to the EU, will also receive a zero-percent import tariff. Currently, these products are imposed import duties from 8 percent to 22 percent.

The EU is currently the second-largest aquatic product importer of Vietnam, accounting for 17 percent of the total aquatic exports. Of which, shrimp exports to the EU accounted for 22 percent of the market share, pangasius fish exports 11 percent, and other seafood products 30-35 percent.