A statement from its Embassy in Suva today said the significant package ‘exceeds the benchmarks articulated by Pacific Islands Leaders.’
Key issues pushed by Pacific in the negotiations were the fishing opportunities afforded to the U.S. purse-seine fleet in waters under the jurisdiction of the Pacific Island Parties and the overall financial package. On June 22, at the most recent negotiations in New Zealand, the United States and the Pacific Island Parties reached agreement on this critical issue, said the U.S Embassy statement. The U.S has now agreed to provide USD 63 million annually to the Pacific Island Parties over the next 10 years, for a total of USD 630 million.
In addition, a payment per vessel day that is more that 50 percent, higher than the USD 5,000 per day regional benchmark price established by Parties to the Nauru Agreement (PNA). The U.S will also pay a 17 percent return on the value of the fish caught by U.S. vessels licensed under the Treaty under current conditions, which it says exceeds the 10 percent average rate of return desired by Pacific Island Leaders.
It will also pay fair compensation for fishing opportunities in the waters under the jurisdiction of non-PNA States. “This agreement on the overall financial package is a significant advancement in the negotiations, and creates a strong foundation on which the United States and our Pacific Island partners can continue to build a prosperous and sustainable future for the peoples of the Pacific region.”
“The United States looks forward to working with the Pacific Island Parties to address remaining technical issues and to reaching an early agreement to extend the Treaty,” said the U.S statement. Since 1988, the United States’ tuna purse seine fleet has operated in the Western and Central Pacific under the terms of a Treaty with 16 independent States of the Pacific Forum.
This mutually beneficial Treaty arrangement has provided unique access to Pacific fisheries for the U.S. tuna fleet and has served as a vehicle for the Pacific Island Parties to receive hundreds of millions of dollars in revenues, U.S. Government economic development funding and assistance with sustainable fisheries management and combating illegal fishing. The United States is working closely with the Pacific Island Parties to negotiate an extension of this important Treaty beyond the current period, ending in June 2013.
(seafood.vasep.com.vn) The year 2025 marks the 30th anniversary of the normalization of diplomatic relations between Vietnam and the United States (1995–2025). In parallel with the nation's progress in international economic integration, bilateral seafood trade has followed a remarkably impressive growth trajectory, expanding from an initial scale of just tens of millions of US dollars to nearly $2 billion annually. This growth has positioned the United States as Vietnam’s largest seafood export market for many consecutive years.
(seafood.vasep.com.vn) On December 12, 2025, the Vietnam Association of Seafood Processing and Export (VASEP) issued document 231/CV-VASEP regarding strengthening measures to combat IUU fishing and working with the Government to lift the EC's IUU yellow card warning.
(seafood.vasep.com.vn) Tilapia is easy to farm and provides high economic and nutritional value, making it a sought-after export commodity in many countries.
(seafood.vasep.com.vn) Vietnam’s seafood exports in the first 10 months of 2025 recorded significant progress, reaching more than USD 9.5 billion, up 15% year-on-year. This result reflects the sector’s persistent efforts amid a highly volatile market, especially policy shocks from the US Although signs of slowdown emerged in the third quarter due to countervailing taxes, key product groups still maintained strong momentum and created a foundation for full-year exports to reach USD 11 billion.
(seafood.vasep.com.vn) Vietnam’s agreement with the United States on a framework for reciprocal, fair, and balanced trade—reached during the 2025 ASEAN Summit in Malaysia—has generated strong optimism for Vietnamese exports, including tuna. Numerous positive points in the joint statement have raised high expectations for Vietnamese export goods, but turning these expectations into tangible benefits remains a long and challenging journey.
(seafood.vasep.com.vn) At the conference on “Linking the Production and Consumption Chain of Ca Mau Crab 2025,” Vice Chairman of the Ca Mau Provincial People’s Committee Lê Văn Sử posed a central question: how to shift the province’s crab exports toward official trade channels, instead of relying heavily on small-scale border trade with China as currently practiced.
(seafood.vasep.com.vn) The whitefish market in Japan is showing a clear divergence among supplying countries, in which Vietnam continues to affirm its role as a stable and high-potential exporter. Vietnam currently ranks third after the US and Russia in whitefish export value to Japan. Thanks to tariff incentives and the ability to meet Japan’s strict standards, Vietnamese pangasius continues to record a stable and positive growth trend.
(seafood.vasep.com.vn) The People's Committee of Ca Mau Province has just issued a plan to expand the super-intensive, low-water-exchange, biosecure white-leg shrimp farming model (RAS-IMTA) for whiteleg shrimp farming to a scale of 1,500 hectares, aiming to develop high-tech, sustainable and environmentally friendly shrimp farming.
(seafood.vasep.com.vn) Sa Giang Import-Export Joint Stock Company (HNX: SGC) plans to issue over 7.1 million shares to raise nearly 465 Billion VND for Hoan Ngoc M&A Deal.
(seafood.vasep.com.vn) According to Rabobank, global tilapia production is forecast to exceed 7 million tons in 2025, driven by a strong recovery in major producing countries including China, Indonesia, Egypt, Bangladesh and Vietnam. Among them, Vietnam is emerging as a potential tilapia supplier in the global supply chain, capitalizing on market fluctuations to expand production and exports.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
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