Vietnam's shrimp exports to EU to gain growth

Vietnam's shrimp exports will have advantages compared to some other countries. Tariffs on frozen prawns exported from Việt Nam to the EU will fall from 20 percent at present to zero as soon as the agreement comes into effect. The tariffs for other shrimp products are reduced according to the three to five year roadmap. Processed shrimp will follow the seven year roadmap. The EVFTA also helps Vietnamese seafood exporters have better access to logistics, insurance, and financial services. They can reduce production costs and increase competitiveness compared to competitors not having FTAs with the EU, such as India, Thailand, and China.