Vietnam is an emerging economy in Southeast Asia that has experienced rapid growth and development during the last few decades. As has historically been the case in many countries, growth in animal-based protein consumption has gone hand-in-hand with this economic development.
Since 2013, total meat consumption in Venezuela has declined 69.1 percent. However, a relatively better economic climate since 2019 has helped stabilized beef production and led to a significant recovery in chicken production.
Those seeking to take advantage of the tariff benefits stemming from the U.S.-Panama Trade Promotion Agreement should ensure their products comply with rules-of-origin requirements to avoid fines and back duty assessments.