Update: 08:49 | 23/01/2020
The veggie and fruit sector aims to gross 5 billion USD from exports this year on the back of new-generation free trade agreements, the Vietnam Fruit and Vegetable Association (VINAFRUIT) said.
As the EU – Vietnam Free Trade Agreement is expected to take effect in 2020, tariffs on Vietnamese fruits and vegetables will fall to zero, helping their value increase significantly.
Besides, the clinched Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) will open new markets for the Vietnamese products.
The veggie and fruit sector aims to gross 5 billion USD from exports in 2020.
According to Dang Phuc Nguyen, the association’s general secretary, the target is achievable, especially when a large area of fruits and vegetables is being grown under VietGAP and Global GAP to meet requirements of choosy markets.
Last year, shipments of fruits and vegetables lagged behind expectations as they brought home only 3.8 billion USD, a year-on-year slide of 1 percent.
The Ministry of Industry and Trade said that 2019 was really a tough year with the veggie and fruit sector. China, the largest importer of Vietnam, tightened requirements for imports from Vietnam via applying strict quarantine measures and enhancing origin traceability.
However, growth was seen in the shipments to several markets such as ASEAN (26.6 percent), the US (10.7 percent) and the EU (32.2 percent).