The recent Vietnam-UAE Comprehensive Economic Partnership Agreement (CEPA) has created a breakthrough opportunity for Vietnam’s shrimp exporters, opening doors to a promising market with immense growth potential.
Tariff Advantages Open the Gateway
Under the CEPA, the UAE will reduce tariffs on 99% of Vietnamese exports, significantly boosting the competitiveness of Vietnamese shrimp. While Vietnam currently holds a 5%-7% market share in the UAE’s seafood sector, this agreement sets the stage for rapid growth.
The UAE is increasingly demanding high-quality seafood, especially shrimp, making it an attractive destination for Vietnamese products like:
- Black tiger shrimp
- White shrimp
- Nobashi shrimp
Challenges and Competitive Strategies
The UAE market is currently dominated by India, which holds a larger share of the shrimp sector. However, Vietnam’s new tariff advantage provides a chance to close the gap. To succeed, Vietnamese shrimp exporters must focus on:
- Enhancing product quality to meet international standards
- Reducing costs to maintain price competitiveness
- Obtaining Halal certification, which is essential to thrive in the UAE
Strategic Location and Broader Opportunities
The UAE’s strategic position as a global trade hub offers more than just local opportunities. It serves as a gateway to broader markets in the Middle East and Europe, enabling exporters to access millions of potential customers.
A Promising Future for Vietnamese Shrimp
The CEPA is a game-changer for Vietnam’s seafood industry, positioning shrimp as a leading export in the UAE market. With demand rising, Vietnamese exporters have an unprecedented chance to increase their market share and build long-term partnerships in this growing region.
Now is the time to act. By leveraging these new advantages, Vietnam’s shrimp industry can establish itself as a global competitor in one of the world’s most dynamic seafood markets.
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