25 seafood items will be apply export tax rate at 0%

Currently, 11 Members States participated in the TPP are: USA, Japan, Canada, Australia, Singapore, Mexico, Malaysia, New Zealand, Chile, Peru and Brunei are the strategic partners of Vietnam seafood.

Member States participating TPP will be reduced by 90% in import-export taxes and cut by 0% in 2015. Accordingly, about 25 seafood products export taxable from 1-10% will return 0% immediately or at the longest route to year of 16. Of these, 12 seafood items will reduce the tax 0% immediately after TPP effect, such as Canned tuna, Tuna yellow, Striped cucumber tuna, red salmon, Frozen snow fish....

This is a positive signal for seafood exporters, especially the Tuna exporters to Japan - the market's second-largest partner (after the US) in the 11 countries participating in the TPP, because the Vietnams tax rate in previous years is higher than other countries in the ASEAN region.

Recently, on the timely basis of the TPP, Japan has abolished import duties on Tuna and Salmon and open for the exporters of the member states participating more actively in this market. Forecast in 2016, export value of tuna to Japan will overcome negative growth and can increase from 5 to 15% compared with this year.

According to the companys forecast, the domestic seafood   ingredients sources are gradually depleted, import duty reduction will create better conditions for Vietnam businesses to import tuna, octopus when imports from the country such as: Malaysia, Mexico, Peru...

According to experts, there are many Vietnam seafood exporters will get benefit from the TPP However that is only one side of the issue. To step out large playground, to get the opportunities, seafood enterprises have to quickly with market change, to further improve the quality of export products  to not be stumped by stricter technical barriers, and the competitiveness have to high compared to other supply countries in the TPP.

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