High consumer demand coupled with lower quality requirements compared to the US, Japan, the EU, and Chile are opening the door for Vietnamese tuna.
According to the Vietnam Association of Seafood Processing and Export (VASEP), Chile is one of the few tuna export markets for Vietnam that maintained good growth in 2023. Vietnam's tuna exports to Chile reached nearly $16 million, an 87% increase last year. Currently, Chile is the 13th largest market among 109 importers of Vietnamese tuna.
Among Vietnam's export products to Chile, processed and canned tuna showed a strong upward trend, increasing by 192% compared to the previous year. Fresh, frozen, and dried tuna products also increased, but at a slower rate of about 46%.
According to VASEP, inflation in Chile is low compared to the general situation in many countries. In the second half of 2023, the country's consumer price index decreased continuously. These factors are boosting consumption in Chile, including demand for tuna.
Furthermore, the Chilean market does not have the same stringent quality requirements as the US, Japan, or the European Union (EU) countries, which greatly facilitates Vietnamese exports.
According to Vietnamese Ambassador to Chile Pham Truong Giang, Chile is a potential export market for Vietnamese consumer goods, as the living standards of its people have increased significantly in recent years.
Chile was one of the first countries in Latin America to sign a Free Trade Agreement (FTA) with Vietnam. Therefore, VASEP assesses that Vietnamese tuna businesses have an advantage over other countries as they benefit from preferential tariffs under the Comprehensive and Progressive Trans- Pacific Partnership Agreement (CPTPP).
Duc Minh
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