Vietnam sees increases in shrimp export to the EU, especially Canada. 
(Photo: laodong.vn)

At present Canada is the seventh largest importer of Vietnamese shrimp, accounting for 5% of the nation’s total shrimp export value. Indeed, Vietnamese shrimp exports to this market by mid-October recorded an increase of approximately 29% from the same period last year to USD146.5 million.

Currently the North American country mainly imports a variety of different types of fresh frozen shrimps from the nation, such as tiger prawn and white-leg shrimp.

According to the International Trade Center (ITC), Canada is the 13th largest importer of shrimp in the world, accounting for roughly 2% of global shrimp import value.

Since 2014, Vietnam has successfully maintained its leading position as the main supplier of shrimp to this market, followed by India, China, Thailand, and Indonesia.

The Canadian Government is in the process of devising policies aimed at encouraging businesses to diversify their markets and reduce their reliance on imports from the United States. As a result, the nation is swiftly becoming one of the countries with which Canadian businesses are keen to promote import-export activities.

Most notably, Canada is regarded as a gateway to the global market due to its access to priority markets through 14 trade agreements with 51 countries, along with nearly 1.5 billion consumers, whilst also featuring an overall GDP of USD49.3 trillion.

As a means of increasing shrimp export turnover to Canada, firms are advised to meet the requirements set by the CPTPP with regard to human resources, production chains, food safety and hygiene, in order to enhance competitiveness within the market./.

BTA