Vietnamese fishermen ship a giant tuna to the shore.— Photo vtv.vn

HA NOI (Biz Hub) — The Vietnam Association of Seafood Exporters and Producers (VASEP) has asked the Ministry of Agriculture and Rural Development (MARD) to cut the tax on tuna imports to zero per cent.

VASEP reported that Viet Nam has imported about 50 per cent of tuna materials it needed for export processing and paid import taxes of between 10 and 24 per cent.

The tax has placed businesses under excessive financial pressure and reduced their competitive capability, VASEP explained.

The association also cited several countries which are competing with Viet Nam in tuna exports, such as Thailand, which have charged a zero per cent tax on tuna imports.

VASEP also requested that the MARD ask the Ministry of Industry and Commerce to put tuna in the package of trade negotiations to help ensure the imposition of a zero per cent tax on Vietnamese tuna exports.

If these obstacles are overcome, the country's tuna exports can rake in up to US$2 billion in revenues per year, which is much higher than about $600 million in revenues at present, the association noted. — VNS