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 seeks to boost agricultural production, consumption

08:31 03/13/2019

Vietnam needs to realise and capitalise on the advantages of each agricultural product so as to boost both production and consumption, said Minister of Agriculture and Rural Development Nguyen Xuan Cuong at a forum in Hanoi on March 5.

The participation in bilateral and multilateral free trade agreements (FTAs) has helped Vietnamese agro-forestry-fishery products avoid almost all tariff barriers. This is a great advantage for the country as it is stepping up agricultural exports to markets with which it has signed FTAs.

Vietnam targets this year’s agricultural exports at 43 billion USD.

The sector will press on with agricultural restructuring and the production of key products at national, provincial, and communal levels, according to Minister Cuong.

VNA