Wednesday,  Aug 15, 2018,02:24 (GMT+7) 0 0
Window of opportunity opens for Vietnamese agro-fishery exports to Australia
The Saigon Times Daily
Thursday,  Jun 14, 2018,17:14 (GMT+7)

Window of opportunity opens for Vietnamese agro-fishery exports to Australia

The Saigon Times Daily

HCMC – Major Vietnamese products, comprising farm produce and seafood, have been enjoying a tax cut to zero percent from Australia during the 2018-2020 period, creating favorable conditions for local enterprises to expand their business scales and boost shipments to the Oceanic country, Sai Gon Giai Phong newspaper reported.

Vo Tan Thanh, vice president of the Vietnam Chamber of Commerce and Industry (VCCI), said Australia ranks eighth among the top importers of Vietnamese goods.

Moreover, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) signed on March 2018 will help cement Vietnam-Australia trade ties. Therefore, shipments of agro-fishery products to Australia will be more advantageous, the VCCI stated.

Australia has strong demand for imports of fresh or processed aquatic products, wooden items and cashews. Besides this, the economic relationship between the two countries has seen robust growth in recent years. For instance, Australia has nearly 400 investment projects in Vietnam, totaling US$1.8 billion, placing it 19th among 126 countries and territories investing in Vietnam.

Many Australian firms and experts recommend that Vietnamese companies research the food and beverage sector to start doing business in this industry in Australia. Regarding exports, local firms should target key sectors, such as farm produce and seafood.

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