Local seafood exporters ready for CPTPP

Seafood exporters operating in Binh Dinh Province are ready to participapte the “big playground” named CPTPP.

Seafood processing at BIDIFISCO.

The Comprehensive and Progressive Agreement for Trans Pacific Partnership (CPTPP) is a strategic free trade agreement (FTA) for Vietnam and its business community as the deal will create momentum for market opening, investment development and establishment of free trade relations with many new countries like Canada, Mexico and Peru.

Therefore, the trade pact is expected to help Vietnam restructure its export-import market as well as reduce trade deficit and its dependence on traditional markets such as ASEAN, China and the Republic of Korea.

Binh Dinh’s seafoor exporters, meanwhile, have well prepared for the CPTPP as they are believed to have more opportunities than other sectors.

Binh Dinh Fishery Company’s director Cao Thi Kim Lan saw a big chance for Vietnamese exporters, because under the CPTPP average trade-weighted tariffs would gradually drop to zero (0) percent. 

BIDFISCO has made every effort to get certificates in the quality assurance, such as BRC-VER6 or IFS-VER6, which are certified by SGS, Nafiquaved, Vicas and Intertek, Lan said.

According to director of Quy Nhon Frozen Products JSC, Mai Ngoc Son, the company is eying new markets in Canada, Australia, New Zealand and Mexico for its frozen shrimps, which are its main product.

However, there are also challenges for the exporters as CPTPP members will definitely launch stricter technical barriers, which requires entrepreneurs to improve their production standards and follow the international law.

The challenges are clear obstacles for local seafood exporters which are mainly medium and small ones. 

During the monthly meeting in March, Binh Dinh’s Chairman Ho Quoc Dung asked the Department of Trade and Industry to coordinate with relevant bodies, aiming to promote the support for local enterprises, particularly those which specialize in seafood, textile, and forestry products.

N.Han –T.Diu

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