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The Prime Minister also asked relevant ministries to complete the new regulations before April 25, 2024 to remove current difficulties and create favourable conditions for the production and business activities for the medicinal herbs.
The association expects that the country’s total spice export turnover will reach $2.2 billion in the next five years.
Việt Nam’s pepper export volume in 2023 is expected to reach 250,000 tonnes, including volume from import and inventory from the previous year.
Vietnamese pepper is now one of the key export products to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) market.
The EU - Việt Nam Free Trade Agreement that took effect in 2020 cuts tariffs on certain Vietnamese spices and herbs such as ground and crushed pepper, chilli, vanilla, and cloves to zero when exporting to the EU, but remains largely untapped.