10:52 | 27/12/2017 Trade
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|
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 81.4 million USD and the highest in 2014 at 144.6 million USD. 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 USD, 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 USD, 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 per cent tariff on exporting shrimp to Switzerland to maintain and promote exports to this market.