Vietnam could take advantage of the Vietnamese communities living in these two countries to boost exports.

This is the second FTA that the EU has ever made with a Southeast Asian country, after Singapore.

The fact that Vietnam is already a top trade partner with the EU despite not having an FTA in place highlights the opportunities that the EVFTA will create for Vietnamese seafood producers.

The latest Covid-19 outbreak in India, the world’s largest shrimp producer, has taken a toll on the recovery outlook of this country’s shrimp industry and created opportunities for others.

By 2030, the domestic market for processed seafood would reach VND40-45 trillion ($1.75-1.97 billion), which would contribute to seafood exports of US$14-16 billion per year.