China boosts seafood import from Vietnam

12/12/2013 12:00 - 474 Views

HCMC – China’s import of seafood products from Vietnam has posted a double-digit growth rate in recent years, according to the Vietnam Association of Seafood Exporters and Producers (Vasep).

This year, Vietnam exports nearly US$45 million worth of seafood products to China each month, with shrimp accounting for nearly US$28 million.

Overall, processed shrimp accounted for 31% of Vietnam’s exports in the January-October period, while frozen material shrimp 69%. Meanwhile, the respective figures of shrimp shipments to China were 3.6% and 96.3%.

The biggest obstacle is that seafood products are mainly exported to China via unofficial channels.

According to vice chairman of Vasep Duong Ngoc Minh, most small enterprises choose to export via unofficial channels to enjoy softer tax but large exporters do not choose such channels due to high risks.

“With the same products, if we containerize shrimp and export it to ports in Shanghai, we have to pay a tax rate of 18%. Meanwhile, if exporting shrimp via a border gate in Lang Son Province, we do not have to pay the tax” said Minh.

China is the third biggest importer of Vietnam’s seafood products, after the U.S. and Japan, according to Vasep.

Ngu?n: http://english.thesaigontimes.vn/