Ca Mau facilitates seafood exports to the UK | Company
Ca Mau (VNS/VNA) – The southernmost province of Ca Mau is helping seafood companies make good use of the UK-Vietnam Free Trade Agreement (UKVFTA) to boost exports to the UK in near future, said the provincial Ministry of Industry and Commerce.
The province was focusing on helping local businesses to participate in trade promotion activities to find customers and expand and develop their markets in the UK, she said, adding that a focus enough was given to disseminating information about the agreement and the UK market to local businesses. .
At the same time, the province was supporting businesses in training to maintain basic knowledge and information on international integration, import and export, taxation, customs and trade promotion skills while enabling businesses to access preferential loans improve the efficiency of production and processing for export.
The top priority was also to provide companies with the technical barriers to trade to limit risk and to help them apply advanced quality management systems to comply with international standards, technical regulations and regulations in manufacturing activities. export, including those for the UK market.
In addition to support from local authorities, exporting enterprises should continue to improve their competitiveness, expand production scale, invest in technology, improve product quality and diversify product designs while ensuring food safety and complying with to the technical standards of exported products, according to the department.
Seafood export is a key industry in the province, accounting for 92 percent of its total export revenue, according to the department’s deputy director Duong Vu Nam.
Generally, the locality is considered as the shrimp capital of the country where shrimp farming occupies about 280,000 ha of the total existing aquaculture area of more than 300,000 ha. Currently, Ca MauShrimp from have been shipped to over 90 countries and territories around the world.
The country’s participation in numerous free trade agreements, such as the UKVFTAprovided tax incentives to exporters in the province, particularly seafood exporters.
As part of the UKVFTA’s commitments, 50% of tariffs on seafood imported from Vietnam have been eliminated, while the remaining 50% will be removed after two, four or six years.
Thanks to tax incentives, the province’s seafood exports to the UK saw a positive increase of 53.3% in 2021. In the first seven months of 2022, its seafood shipments to the market increased significantly by 70% year over year.
The department’s latest report revealed that the province exported $848 million worth of seafood to overseas markets during the seven-month period, up 42% from the same period last year or representing 73% of the annual objective.
Besides the UK, its seafood exports to the EU also saw a 45% year-on-year increase to $135 million.
With this strong performance, the province’s seafood exports are on track to exceed USD 1.1 billion by the end of this year./.