For the past 3 months, Vietnam's tuna exports to Mexico have grown continuously. In April 2023 alone, tuna exports to this market increased by 117% compared to the same period in 2022, reaching nearly 1.9 million USD. Accumulated in the first 4 months of 2023, exports to Mexico reached nearly US$7.4 million, increased 44% compared to the same period in 2022.
According to statistics from Vietnam Customs, Mexico imports mainly tuna loin from Vietnam, accounting for 74% of total exports value, the rest is other processed tuna products.
With the implementation of the CPTPP, the base tax rate on Vietnam's HS0304 frozen tuna loin/fillet products exported to Mexico has been reduced from 20% to 0%. Other processed tuna products, such as frozen steamed tuna loins, are tax-free when imported into Mexico.
Mexico currently has relations with many of the world's most important economic regions; additionally, Mexico shares the same language, origin, history, and culture as Latin American countries. The country is regarded as a gateway to dynamic economic regions such as the G20 and the Pacific Alliance. Mexico also has a Free Trade Agreement (FTA) with Europe, the North American Free Trade Agreement (NAFTA), and is a member of the CPTPP.
According to Mr. Luu Van Khang, Commercial Counselor, Vietnam Trade Office in Mexico, with the volatile world situation, the COVID-19 pandemic,... the price of Chinese labor and goods is increasing, so importing companies around the world, including Mexico, are looking for other suppliers, and Vietnam is one of them.