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.

Vietnam-EU trade up 16.2 per cent in five months

13:38 06/21/2017

Two-way trade between Vietnam and the European Union (EU) grew 16.2 per cent year-on-year in the first five months of 2017, according to the Ministry of Industry and Trade.

Of the figure, Vietnam’s exports to the EU rose 4.2 per cent, mostly apparel, footwear, agro-forestry-aquatic products and computers, while its imports from the EU up 14 per cent, including machinery, equipment, pharmaceuticals and dairy products.

The country’s major importers were Germany, the UK, France, Italy, the Netherlands and Spain.

Exporters hope that the EU-Vietnam Free Trade Agreement (EVFTA), which is expected to take effect in 2018, will increase Vietnam’s exports to the bloc by 50 per cent by 2020.

The ministry said in order to navigate the demanding EU market, domestic firms must overcome technical barriers by meeting strict requirements regarding food safety and hygiene and origin traceability.

First Counsellor of the EU Delegation to Vietnam Miriam Garcia Ferrer said through the EVFTA, the EU could help Vietnam improve trademark and product quality.