The Hindu Business Line : Japan's FTA with Vietnam may hit India's seafood exports

KOCHI: India's marine product exports are likely to face tremendous pressure from Vietnam after the South East Asian country signed a free-trade agreement (FTA) with Japan, the largest importer of India's shrimp products. Vietnam will reportedly get duty -free access to the Japanese market for as many as 7,264 items, including the shrimp products. Japan accounted for 16 per cent of India's total overseas sales of marine products in 2007-08.

The duty-free access to Vietnam, another major exporter of marine items, is set to make its products “cost-competitive'' in the Japanese markets, compared with the Indian products. “Yes, the move is likely to hit India's exports as our products do not e njoy duty-free access to the Japanese market,'' said an official of Seafood Exporters' Association of India.

India exported 67,373 tonnes of marine products including shrimp, crab meat, lobster, squid and octopus to Japan in 2007-08 against 67,437 tonnes in 2006-07. In value terms, exports dipped to Rs 1,237.59 cr from Rs 1,353.38 cr. Japan already provides du ty-free access of some marine products from countries like Singapore, Mexico, Malaysia, Chile and Thailand. – PTI

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