According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the country’s export of agro-forestry-aquatic products to CPTPP member nations has consistently increased in recent years, hitting 2.9 billion in 2022 from 2.2 billion in 2019.

Processing shrimp for export.

The CPTPP is the second-fastest-growing seafood export market for Vietnam, following China. It accounted for 25% of Vietnam's seafood exports in 2018 and nearly 27% in 2023. The most robust growth in exports is observed in Canada, Chile, Peru, Singapore, Malaysia, and Australia.

For the Japanese market, Vietnam has boosted its export of various agricultural products in recent times, including fruits and vegetables. The Southeast Asian nation has emerged as the 12th largest supplier of fruits and nuts to Japan.

The agreement has also made it easier for Vietnam's agricultural products to access the Australian market. Notably, Vietnamese shrimp products dominate this market with a share of over 70%, nearly doubling from the figure recorded before the agreement was inked.

In addition to traditional markets, Chile is also a potential one for Vietnam’s agricultural exports. According to the Ministry of Industry and Trade, products prioritised as exports to Chile include pepper, cashew nuts, tea, coffee, honey, seafood, and wood products.

The UK officially signed an agreement to join the CPTPP in July last year, creating more opportunities for Vietnam's agricultural sector to diversify its markets and increase its competitive advantage.

Insiders said that to effectively capitalise on the opportunities brought by the pact, producers and exporters of agro-forestry-aquatic products need to pay special attention to standards, consumer trends, and product designs; and improve production processes and comply with labour and environmental standards as outlined in the trade deal, and meet specific requirements of each market.

Furthermore, concerning Latin American markets such as Mexico, Chile, and Peru, Vietnamese businesses currently lack information about consumer preferences and demands, so the export turnover to these markets remains limited.

Vietnamese authorities and trade offices in these countries should provide more support to businesses in trade promotion activities, they said.

Fruit, vegetable exports rise by 89%

Fruit and vegetable exports have risen by 89.2% this year to US$459 million due to a surge in demand from China, according to the Vietnam Fruit and Vegetable Association.

Rice exports soar to record 8.3 million tonnes

Vietnam’s rice production in 2023 stood at 43.5 million tonnes, an increase of 1.9%, adequately meeting domestic consumption, processing, animal feed production, and exports, which set a record of nearly 8.3 million tonnes.

Rice exports reach record high

Vietnam's rice exports soared to 8.13 million tons, valued at US$4.7 billion in 2023, setting a new national record, as per the General Department of Customs.

Nearly 3,000 Vietnamese firms receive codes to export agricultural products to China

Nearly 3,000 Vietnamese firms have received codes granted by China, enabling them to export farm produce and food products to the Chinese market.

Bac Giang export businesses accelerate production for breakthroughs

BAC GIANG - In 2023, Bac Giang province ranked 6th nationwide in terms of export value with more than 27.4 billion USD, an increase of 22.3% compared to the previous year. It was the only province in the country recording a trade surplus in the year. To continue to maintain growth momentum, right from the beginning of 2024, many local businesses have exerted efforts to overcome difficulties and speed up production to fulfill the signed orders.

Source: VNA