GENERAL INFORMATION

In Vietnam, the fishery sector plays an important role in the national economy, accounting for about 4-5 percent of Gross Domestic Product (GDP) and about 9-10% of national export revenue.

More than 4 millions of people working in the fishery and the growth in production have attributed to the fish exports. Thanks to strongly increase in many years, Vietnam ranks among the top ten seafood suppliers and its seafood products are exported to 170 markets in the world.

Shrimp, pangasius, tuna, squid and octopus are main seafood products exported by the country. In which, shrimp exports create about US$ 3.5 – 4 billion, make up 46-50% of the total seafood sales of Vietnam. Earnings from pangasius reached at US$ 1.7 – 1.8 billion (25% of the total) and exports from Tuna and Cephalopods are US$ 450 – 550 million for each.

Exports to the U.S, Japan, EU, China and South Korea make up 75% of Vietnam’s seafood sales to the wolrd.

5 advantages for Vietnam seafood exports:  

(1)  High commitment and participation from Government, Industry and companies for food safety, environment  and social responsibility;

(2)  Able to supply the big volume and safe quality and stable seafood products;

(3)  Meet all the customers’ requirements, incl. the vertical linkage (integration) for each species sector;

(4)  Vietnam is one in few countries in the world which has the good and stable labor resource; 

(5)  Vietnam has Agreements / FTAs with many countries and territories and has advantages both in product quality and im-ex tax.  

Export potentials

Khanh Hoa fishermen benefiting from fishing technology
16:17 20/10/2020

(vasep.com.vn) In 2020, the Covid-19 pandemic spread out all over the world that had a tremendous impact on the world tuna industry in general and the Vietnamese tuna industry in particular. Despite the difficulties, Vietnamese tuna processing and exporting enterprises have still been making efforts to overcome drawbacks.

With the average seafood import demand of 4.1-4.5 billion USD/year, Vietnam seafood has great room to increase exports to the UK market thanks to the push from the UKVFTA Free Trade Agreement.

The EU-Vietnam trade agreement, the “most modern and ambitious agreement ever concluded between the EU and a developing country”, got Parliament’s backing on Feb 12 2020

Vietnam, home to many UNESCO heritage sites, culturally rich with its traditions, sandy beaches, valleys, mountains and many other tourism attractions on offer along with new opportunities for Indian business investments, hosted a promotional meet in Kolkata to promote the destination.

With the Comprehensive and Progressive Agreement for Trans-Pacific (CPTPP) officially coming into force, Vietnamese exporters should make the most use of the opportunities it brings in Japan, one of Vietnam’s leading trade partners.

Aquatic products are subject to a lot of incentives in the European Union – Vietnam Free Trade Agreement (EVFTA), according to experts.

Chairwoman of the National Assembly Nguyễn Thị Kim Ngân and European Commissioner for Trade Cecilia Malmstrom exchanged ideas related to the signing and ratification of the EU-Viêt Nam Free Trade Agreement (EVFTA) and the EU-Việt Nam Investment Protection Agreement (EVIPA) during their meeting in Hà Nội yesterday.

Vietnamese agro-forestry-fishery products are now available in 180 countries and territories thanks to Vietnam’s increasing global economic integration and implementation of free trade agreements.

Vietnamese enterprises need to take advantage of tariff reductions under the Comprehensive and Progressive Agreement for Trans Pacific Partnership (CPTPP) to increase exports to Australia.

The Mekong Delta province of Ben Tre will develop its maritime economy over the next decade, focusing on fishing, tourism and renewable energy, according to the provincial People’s Committee.

Standard and Poor’s (S&P) Global Ratings’ recent upgrade of its long-term sovereign credit rating for Vietnam, the first time since 2010, was expected to help the country to attract more foreign investments into the economy and expand exports.

Prime Minister Nguyen Xuan Phuc said he wishes that Chu Lai would strive to become a high-quality agro-forestry processing hub of the country to be able to meet huge demand in ASEAN, northeastern Asia, G7 and G20 countries.

Fifteen Vietnamese seafood exporters attended the Seafood Expo North America and Seafood Processing North America, the largest of its kind show in the North America, from March 17-19 in Boston, the US to seek new partners and expand export markets.

Information work plays an important role in consolidating public confidence in domestic production, Prime Minister Nguyen Xuan Phuc has said.

Fifteen leading Vietnamese enterprises is taking part in the Seafood Expo North America, the biggest annual event of its kind in the region, which opened in Boston, the US, on March 17.


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