Seafood exports from India to the European Union are expected to drop sharply this year as its biggest competitor Vietnam signed a free trade agreement (FTA) with the European Bloc in July. The FTA helps it export products to the EU without any customs duty, according to the Maharashtra region head of the seafood exporters’ organisation.
“Vietnam has just signed an FTA with the EU in July, making it a zero-duty trading partner and seafood was one of the main things,” Rustom Irani, President, Maharashtra region of The Seafood Exporters Association of India said.