Switzerland imports over 50 percent shrimp from Vietnam

VNA
During the 10-year period (2007-2016), Vietnam was consistently the largest shrimp supplier for Switzerland, accounting for over 50 percent of total Swiss shrimp imports.

Illustrative image (Source: VNA)

Illustrative image (Source: VNA)

This was stated by the Vietnam Association of Seafood Exporters and Producers (VASEP).
Switzerland accounts for 0.5 percent of total shrimp import value in the world, mainly importing shrimp for domestic consumption. Each year, this country imports some 8,500 tonnes of shrimp.
Shrimp import in Switzerland was not stable during the 10 years (2007-2016), with the lowest import value in 2007 at US$ 81.4 million and the highest in 2014 at $144.6 million. In 2014, the value of shrimp imports in this country reached the highest level because the price of shrimp worldwide increased significantly. From 2014 to 2016, the value of shrimp imports into the country showed a tendency to decline.
In the Swiss market, Vietnam has to compete with Ecuador and other Asian suppliers such as Bangladesh, Thailand and India, although Vietnamese shrimp is more affordable than European suppliers such as Germany, Denmark and France.
Frozen shrimp and sealed bags with processed shrimp are the two main products imported into Switzerland, of which Vietnam is the largest supplier of these two products.
VASEP said Switzerland offers free import duty on frozen shrimp for all five major sources -- Vietnam, Germany, Denmark, Ecuador and Bangladesh.
In the first three quarters of this year, shrimp imports to Switzerland totaled $87.6 million, a year-on-year increase of 17 percent. Vietnam remains the largest supplier, accounting for 59 percent of total Swiss shrimp imports, followed by Germany, Denmark, France and the Netherlands.
Switzerland ranks 10th among Vietnam’s main shrimp import markets, accounting for 1.03 percent of the Southeast Asian country’s total shrimp exports to all the markets.
As of November 15, 2017, Vietnam’s shrimp exports to Switzerland reached $34.3 million, up 17.3 percent over the same period last year.
VASEP suggested that in light of the current situation, Vietnam should take advantage of being the largest supplier of shrimp and the zero percent tariff on exporting shrimp to Switzerland to maintain and promote exports to this market.

VNA

Other news

Most view

Banking-finance

VNPT & SeABank cooperate to enhance connections

The Vietnam Posts and Telecommunications Group (VNPT) and SeABank just co-signed cooperation agreement, aiming to develop the two sides’ economic, business and investment potential.


Economy

HCMC focuses on safe pig breeding chain

The HCM City department of agriculture & rural development has just held conference about the sustainable pig breeding and safe pork production market in HCMC.

Self - introduction

VNPT targets to be leading digital service provider in Vietnam

The grand opening ceremony of the VNPT-Information Technology Company (VNPT-IT), a new member of the Vietnam Posts and Telecommunications Group (VNPT), was held yesterday in Hanoi. With thousands of IT engineers and the focus on developing state-of-the-art technological products related to Artificial Intelligence (AI), Bigdata, and Blockchain, the new company is considered the main force to help VNPT fulfill the goal of becoming a leading digital service provider in Vietnam and an important Digital Hub of the neighborhood as well as the world.

Stock market