According to the International Trade Centre, in 2018, Vietnam was the 11th biggest tuna supplier of China, accounting for a meagre market share with 3%.
Particularly, frozen tuna fillets from Vietnam and the ASEAN member countries are exempted from tax in the Chinese market. The advantage allowed Vietnam to become the leading provider of frozen tuna fillets to the market with over 65% of the market share in 2018.
The VASEP predicted that Vietnam’s export of the product to China will continue to rise in 2019. In the first two months of this year, Vietnam’s exports to China accounted for 94% of the country’s total tuna export value.
The association revealed that this year, Vietnam will provide new fresh and frozen tuna products to China.
According to Nguyen Thi Thu Sac, Vice Chairwoman of VASEP, tuna exports are forecast to top US$1 billion this year, US$350 million higher than last year.