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 seafood exports face numerous barriers

14:00 09/13/2014

(vasep.com.vn) Vietnam seafood exporters are encountering challenges as overseas markets are imposing a variety of non-tariff barriers on imported seafood products.

European market is testing the certification of reported and controlled wild-caught fish under the Agreement on Technical Barriers to Trade (TBT). The U.S. is applying Food Safety Modernization Act (FSMA) under Sanitary and Phytosanitary Standards (SPS), TBT and Farm Bill under SPS.

Additionally, the U.S. continues its anti-dumping lawsuits against Vietnam pangasius. Apart from major markets, some regional countries such as Indonesia and Malaysia are also putting anti-dumping pressures on seafood imported by the countries.

These barriers have been causing great losses to Vietnam seafood exporters as well as fisheries industry. Vietnam exporters should raise their competitiveness in product quality instead of focusing on competitiveness in price.