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 promotes seafood trade to Middle East - Africa

(seafood.vasep.com.vn) On 18th August 2016, the Export Support Center of the Trade Promotion Agency under the Vietnam Ministry of Industry and Trade held the seminar of "Promoting trade to Middle East - Africa" in order to support Vietnamese enterprises expanding the markets and seeking new partners in the region.

Middle East - Africa is a potential market with high import demand thanks to large population and diversity in religion and languages. Up to now, Vietnam has established relations with 70 countries in the region with two-way trade increased eight times from US$2 billion over the past decade.

Along with that, the region has an area of over 36 million km2 with a population of nearly 1.5 billion people, Middle East - Africa remains high import demand for various items from Vietnam. Therefore, it is considered as a potential market for Vietnamese businesses.

Although Vietnam's exports to the Middle East - Africa recorded the rise, domestic enterprises have not taken the advantage from this region yet. In recent years, Middle East has emerged as a new potential market for fishery products. Due to natural conditions, most Middle Eastern countries do not produce agricultural commodities by themselves, including fisheries, therefore, this region has a huge demand for products of shrimp, pangasius, canned tuna, sardines, canned mackerel and dried fish.

However, exports to the region face some difficulties due to political instability. Besides, exporters encounter payment risks because many importers in the region do not have the habit of opening L/C.

Compiled by Dieu Thuy


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