|Vietnam surpasses Thailand to become the largest shrimp supplier to Canada|
|Vietnamese shrimp exports to EU expected to surge in remaining months of 2020 thanks to EVFTA|
|EVFTA: First batch of shrimp from Vietnam on its way to EU|
|Vietnam remains the leading shrimp exporter to Canada Photo: Pham Ngon/ Zing News|
As of October 15, Vietnamese shrimp exports to Canada reached US$ 146.5 million, representing a year-on-year increase of nearly 29%, Zing News reported.
According to the data by the International Trade Center (ITC), Canada is currently the 13th largest importer of shrimp in the world and the 7th largest importer of Vietnamese shrimp, occupying 5% of the nation’s total shrimp export value.
Since 2014, Vietnam has taken the lead in supplying shrimp for this market, followed by India, China, Thailand, and Indonesia.
|Photo: Thanh Nien|
The Canadian Government is devising policies to encourage its businesses to diversify their markets and reduce their dependence on imports from the US. Vietnam is one of the countries that Canadian businesses are keen to promote import-export activities.
Canada is considered a gateway to the global market thanks to its preferential access through 14 trade agreements with 51 countries and its geographical location close to the US. At the same time, Vietnamese shrimp exported to Canada enjoy tax incentives from the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Thus, there remains plenty of room for Vietnamese shrimp to enter this market, VASEP said.
VASEP added that to increase the volume of shrimp exports to Canada, businesses must meet some requirements set by CPTPP such as human resources, production chains, food safety, and hygiene, etc to boost competitiveness.
Korea is importing more shrimps from Vietnam. Korea has become the fifth biggest importer of Vietnam's shrimps with 10.7% of market share.
According to statistics, Vietnam exported US$323.3 million worth of shrimp to the US in the first half of this year, up 29% year-on-year.
According to the Vietnam Association of Seafood Exporters and Producers, in the first half of 2020, shrimp exports were up 5.7 per cent, reaching US$1.5 billion despite ...