Despite the impact of the COVID-19 pandemic, Vietnam’s export of shrimps to the RoK had reached 179 million USD as of July 15, a year-on-year rise of 5.8 percent.

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Processing shrimps for exports. (Photo for illustration)

Dried shrimp and processed giant tiger prawn reported the highest growth rates, with 194 percent and 62 percent, respectively.

Vietnam’s shrimp is exempted from import tariffs to the RoK with a quota of 15,000 tonnes a year. However, at present, Vietnam is shipping just 2,500 tonnes of shrimps to the Eastern Asian country.

Domestic exporters are advised to raise their awareness of the Vietnam-RoK Free Trade Agreement to take advantage of its incentives.

Source: VNA