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Russia Becoming a Key Market for Vietnamese Tuna

Tuna Sustainability Economics +5 more

VIET NAM - Russia became a key market for Viet Nam seafood exports in 2015, as it became the ninth largest importer of tuna.

A Free Trade Agreement between Viet Nam and Eurasian Economic Union was signed on 29 May 2015, with commitments to clear tax of fishery products imported into the region, reports VASEP.

Once the agreement comes into force, Viet Nam will obtain more opportunities to export tuna and other seafood products into the market.

Statistics from General Customs showed that in the first 4 months of 2015, tuna exports to Russia reached US$ 1.65 million, up 218.4 per cent from the same period of 2014.

Frozen raw tuna was still the main export item to Russia with a value of US$ 1.58 million, making up for 95 per cent of total exports to this market. This year, Vietnamese companies have started sending fesh and chilled tuna to Russia, earning US$ 66.7 thousand.

Statistics from the World Trade Centre (ITC) revealed that in Q1/2015, Vietnam is the third biggest tuna suppler to Russia, achieved growth rate of 161 per cent. Imports from Thailand decreased by 47.1 per cent while imports from China rose by 58.6 per cent.