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.  

Global economic integration helps Vietnam expand agri-products markets

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.

Economic integration has helped Vietnamese agri-products overcome tariff barriers, especially staples such as rice and aquatic and wood products.

The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) has created excellent opportunities for Vietnamese agri-products to join global supply chains, according to deputy head of the Agro Processing Market Development Authority (AgroTrade) Tran Van Cong.

It also creates a driver as well as pressure on domestic businesses to increase exports of processed products with high added values, he added.

According to Nguyen Ton Quyen, Vice Chairman of the Vietnam Timber and Forest Product Association, other members of the CPTPP are potential export markets of the Vietnamese wood industry.

The Forest Law Enforcement, Governance and Trade Voluntary Partnership Agreement (FLEGT-VPA) between Vietnam and the EU is expected to promote export growth of wood and timber products to major European markets.

Deputy Minister of Agriculture and Rural Development Ha Cong Tuan said EU is the fourth biggest market of Vietnam, making up 13-17 percent of the country’s furniture export turnover.

Not only creating opportunities in trade of goods, integration has enabled the agriculture sector to promote the application of science and technology to improve production quality, competitiveness, technical standards and food safety and hygiene. 

Many advanced technical standards including Vietnamese Good Agricultural Practices (VietGAP), ISO and HACCP in processing have been applied in Vietnam. National standards on food safety and animal and plant quarantine have been harmonised with international standards, helping the country’s’ farm produce penetrate choosy markets.

The Ministry of Agriculture and Rural Development has focused on developing foreign markets, prioritising those with high export turnover, while removing barriers for export businesses and providing information on Vietnamese farm produce and production procedures to foreign customers to reinforce their trust.

Last year, the ministry spared no effort to remove difficulties for businesses in the two major markets of China and the EU.

The ministry sent working delegations to China and hosted and participated in trade promotion activities to introduce Vietnamese agri-products.

In the EU, the ministry helped businesses increase the presence of Vietnamese farm produce at supermarkets.

It also held activities to promote trade of Vietnamese farm produce in Russia, Japan, India and ASEAN countries.

VNA


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