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Hanoi (VNA) – Vietnam ought to absolutely faucet advantages from tariff discount and exemption introduced by the EU – Vietnam Free Commerce
Settlement (EVFTA) to advertise cashew nut export to France, mentioned insiders.
The tax fee for Vietnamese cashew merchandise imported into the EU was lower right down to
0% after the EVFTA took impact on August 1, 2020, creating a major
aggressive benefit for this commodity.
This discount is essential as a result of earlier than having the EVFTA, the tariff
for Vietnamese cashew nuts ranged from 7% to 12%.
Vietnamese Commerce Counselor in France Vu Anh Son mentioned the settlement is an efficient device serving to Vietnam broaden its cashew export to the EU usually and France specifically.
In line with Vietnamese Commerce Workplace in France, in
2019-2020, Vietnam’s cashew market share in France decreased from 61% to 46%.
At supermarkets and hypermarkets, there have been virtually no Vietnamese-branded cashew
merchandise as a result of the home enterprises primarily targeted on wholesale, not
retail.
Specialists have warned that Vietnamese cashew nuts have confronted competitors within the
EU market.
Export companies are suggested to make sure laws on origin and meals security, seek the advice of
legal professionals about related to legal guidelines, and replace newest info associated to orders
and transactions to keep away from dangers.
Dang
Hoang Giang, Secretary Normal of the Vietnam Cashew Affiliation (Vinacas) has really useful the
Ministry of Trade and Commerce take measures to conretise cooperation
agreements by way of FTAs, particularly EVFTA, thus maximizing earnings for native exporters.
Commerce promotion businesses ought to present extra info and forecasts of consumption
developments in EU markets, together with France; and assist Vinacas to broaden commerce partnerships with EU importers,
Giang mentioned.
Vietnam goals to earn 3.8 billion USD from
exporting cashew nuts this 12 months, a rise of 200 million USD year-on-year.
The EU is now Vietnam’s second-largest
cashew export market, accounting for 23% of the amount and 22% of the worth.
Final 12 months, Vietnam shipped 135,000 tonnes of cashew nuts price 816 million USD to
the EU, up 16.5% in quantity and seven.9% in worth in comparison with 2020./.
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