Free Trade Agreements and Their Impact on Meat Imports in Vietnam

Main sources of MEAT imports

Currently, India remains the main supplier of meat to Vietnam , occupying a leading position in the market, accounting for about 23% of all supplies. In the first ten months of 2024 , Vietnam imported about 160,000 tons of meat from India worth $ 531.5 million, an increase of 13% in volume and 28% in value. This indicates the growing interest of Vietnamese consumers in Indian meat products, which are becoming more affordable thanks to tariff reductions under free trade agreements.

However, India is not the only player in this market. Meat imports from other countries such as Australia , the United States , CANADA , Poland , South Korea , the Netherlands, Italy , Turkey , Japan , Belgium and France are also showing positive dynamics. This diversity of suppliers allows Vietnam not only to meet the growing demand for meat products but also to ensure their high quality.

Meat Import Structure

Vietnam’s main meat imports include fresh chilled or frozen poultry , edible offal, fresh frozen buffalo meat, as well as pork and beef . These products are becoming increasingly popular among Vietnamese consumers, which in turn stimulates the growth of imports.

The Role of Free Trade Agreements

The free trade agreements signed by Vietnam with various countries have played a key role in increasing meat imports. They have contributed to lower tariffs and simplified customs clearance procedures, making imports more profitable and accessible for Vietnamese companies. For example, the free trade agreement with the EU and other ASEAN countries has opened up new horizons for the Vietnamese market, allowing the import of high-quality meat products at lower prices.

Prospects and Challenges

Despite the positive trends, the Vietnamese meat market also faces certain challenges. With the increase in import volumes, there is a need for quality control and compliance with sanitary standards. it is important that governments and the business community work closely together to ensure food safety.

In conclusion, free trade agreements have significantly contributed to the growth of meat imports in Vietnam, making it more affordable for consumers and businesses. Given the continued growth in demand for meat products, Vietnam can be expected to remain an important player in the meat market in the region, creating new opportunities for both local producers and foreign suppliers.