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, Lithuania boast abundant cooperation potentials

Cooperation potential between Vietnam and Lithuania remains extensive, particularly in agriculture, IT, education and tourism, stated Lithuanian Ambassador to Vietnam Ina Marciulionyte.

The diplomat made the statement at a conference to promote partnerships between the sides held in Ho Chi Minh City on February 27.

As bilateral trade has fallen short of potential, Lithuania wants to boost economic ties with Vietnam in the coming times via a range of conferences and trade connection programmes, she noted.

She said her country is lacking human resources in the IT sector and is willing to issue long-term work permits for eligible Vietnamese workers.

Lithuanian agricultural attaché Mindaugas Kuklierius said his country boasts strengths in the production of meat, milk products, and baking materials.

He added that his country wants to import Vietnamese fruits, vegetables and catfish products.

A representative from the Tan Dai Duong company, which has been importing chicken meat from Lithuania, said demand for importing Lithuanian goods into Vietnam has been hindered by restricted information about the northeast European country.

Nguyen The Kien, head of the SaigonStar company, noted that products from Vietnam and other Southeast Asian countries are hardly found in the Lithuanian market, which has small demand but is a gateway to the European market.

Once the Vietnam – EU Free Trade Agreement takes effect, tremendous trade and investment opportunities will be opened up for both sides, Kien stressed.

Source: VNA


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