With the preferential tariffs under the Free Trade Agreement between Vietnam and the Eurasian Economic Union (VN-EAEU FTA), Vietnam’s seafood products are becoming more and more competitive in the Russian market. However, Vietnam’s seafood market share in total imports of Russia increased slowly.
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), by the end of November 2021, Vietnam’s seafood exports to Russia reached nearly 150 million USD, up 27% over the same period in 2020. With tariff preferences under VN-EAEU FTA, Vietnam’s seafood products are becoming more and more competitive in the Russian market. However, this market accounts for less than 2% of Vietnam’s total seafood export turnover.
Ms. To Thi Tuong Lan – Deputy Secretary General of VASEP – assessed that, after 5 years of implementing VN-EAEU FTA, the Russian Federation is the market that is most interested by Vietnamese enterprises, however, the number of licensed enterprises The export license to this market is still limited, the registration procedure is complicated, the review time is long…, the explanation and remedy for the warned shipments, and the removal of export restriction orders of enterprises. has not been handled in time, affecting the export process of enterprises. The outstanding difficulties businesses face today are transportation costs, freight rates increased by 12 – 15%; Payments are made in USD, so the unstable exchange rate between the Ruble and the USD has had a significant impact on enterprises’ exports. Notably, non-tariff barriers such as Russian food safety regulations and quality quarantine are quite strict according to Russia’s own regulations as well as VN-EAEU FTA…
To promote seafood exports to the Russian market, Ms. To Thi Tuong Lan suggested that in the coming time, it is necessary to strengthen exchanges and cooperation to remove difficulties and promote bilateral payments in local currency as Russia is applying. apply to China, Turkey… At the same time, consider opening an intermodal transport route between Vietnam – EAEU by train to reduce pressure when shipping by sea is very difficult; The Russian Federation of Veterinary and Quarantine Supervision Agency (FSVPS) considers increasing the number of Vietnamese seafood enterprises that can be exported to this market. The Agro-Forestry-Fisheries Quality Assurance Department (NAFIQAD) and FSVPS need to shorten the time to explain the warned shipment so that enterprises can export again soon; consider the control process close to international practice…
Source: Congthuong.vn
