Yellow card
For Southeast Asian countries, the EU is an important market which imports seafood with high profits – but the potential always comes with barriers that sometimes raise tensions between the parties involved. Although the market share of seafood imports from Southeast Asian countries is low, the region is subject to many sanctions from the EC. The EC has repeatedly sanctioned seafood imports from Southeast Asian countries related to IUU fishing, including a warning “yellow card” and a “red card”; to end imported seafood.
In the context of a global economic recession, ASEAN-EU trade relations are facing difficulties. Trade tensions between the EU, Indonesia and Malaysia – as well as “yellow card” sanctions for Thailand, Vietnam, and the Philippines and a “red card” for Cambodia related to IUU fishing – has resulted in a grey cloud over ASEAN-EU trade relations.
ASEAN countries’ efforts to combat IUU fishing are sometimes not fully evaluated. A number of research institutions put forward a report that emphasises too much on the status quo, which sometimes reduces the interest of the EC and countries in making positive progress in practice.
Clearly, the solution groups are gradually becoming more effective, while there is a question of objectivity in the measures employed. Before the efforts to remove the yellow card for Vietnam can take place, the question will be verified after the inspection team from the General Department of Marine and Fisheries Affairs – which returned from Vietnam last November – issue a conclusion.
ASEAN cares about the IUU issue not only because of potential economic losses but also because it is at times affecting the political relations among member states. Typically, the controversy over the exploitation of Myanmar fishermen labour on Thai fishing vessels; or tensions related to Vietnam’s fishing vessels seized by Indonesian authorities in the overlapping Exclusive Economic Zones (EEZs).
Recognising the negative impact of IUU fishing on the environment and economy, ASEAN promotes efforts to combat this problem. In general, in order to solve the IUU fishing problem, ASEAN countries aim to take measures to conserve and manage fish resources, unify the legal provisions on fisheries and environmental protection among stakeholders. Transparency in national maritime policies, regional cooperation and contributions of regional fisheries management organisations.
Common effort
As a country subject to yellow card sanctions from the EC, Vietnam particularly prioritises the removal of IUU fishing yellow cards. In May 2019, a special national committee was established and a deputy prime minister was given the right to direct and coordinate it. Vietnam also established the Fund for Protection and Development of Aquatic Resources and implemented many other strong long-term measures. The government has consistently and vigorously fought against IUU fishing through communication, laws, and technical measures, following recommendations from the EC delegation.
Vietnam also provides support to other ASEAN member states’ initiatives related to IUU fishing. In April 2019, Thailand hosted the ASEAN meeting with the EU in an effort to combat IUU fishing. At the ASEAN Defence Ministers Meeting, Thailand launched an initiative to promote the role of the armed forces and agencies in the issue of IUU fishing with the support of many countries including Vietnam and the Philippines.
IUU fishing cannot be solved unilaterally. Vietnam as ASEAN Chair for 2020 and Standing Commissioner of the United Nations Security Council (2020 - 2021), is expected to use its influence to address this issue. A significant joint effort in the process of restricting and eliminating IUU fishing is expected to be part of the agenda at the ASEAN Summit and subsequent ministerial level meetings among the 10-member countries.
Vietnam has always promoted a multilateral effort to combat IUU fishing and it is expected that ASEAN as a bloc will ramp up efforts to fight IUU fishing this year.
ASEAN countries are now being fined for fishing outside the region. This is because a large number of Chinese fishing vessels are exploiting depleted fisheries in the South China Sea. This has forced fishermen from ASEAN countries to venture outside their designated fishing areas.
Malaysia and Vietnam cooperation
In that context, the cooperation between Malaysia and Vietnam also plays a very important role. In August 2019, during a visit to Hanoi, Malaysia’s Prime Minister at the time, Mahathir Mohamad and Vietnam’s Prime Minister, Nguyen Xuan Phuc witnessed the signing of a Memorandum of Understanding (MoU) between the Vietnam Coast Guard and Malaysian Maritime Enforcement Agency (MMEA) represented by Malaysia’s Foreign Minister at the time, Saifuddin Abdullah and Vietnam’s Chief of the General Staff cum Deputy National Defence Minister, Sen Lt Gen Phan Van Giang.
“We should also put in place suitable mechanism to enable our fishermen to engage in legal, safe and sustainable fishing, as well as find solutions together to ensure Vietnamese workers have stable livelihood and jobs with decent income,” said Nguyen Xuan Phuc, Vietnam’s Prime Minister.
On 16 February, speaking to reporters at the Balok Fisherman Integration Program in the state of Pahang, former Foreign Minister Saifuddin Abdullah said Malaysia intends to sign an agreement with Vietnam to tackle the issue of deep-sea fishermen. According to Saifuddin, Malaysia and Indonesia signed a similar agreement and another one could be signed with Vietnam as a follow-up.
ASEAN and the EU are two dynamic markets with effective cooperation and mutual benefits. The tough sanctions on key ASEAN exports such as seafood, could create unnecessary tensions.
In order to limit these tensions and prevent them from becoming a growing problem between the EU and ASEAN, responsible leaders need to seek a common voice to address the problem early.
(seafood.vasep.com.vn) The outlook for Vietnam’s seafood exports remains positive, with a strong focus on maintaining growth in key markets like China and the U.S., while diversifying into new regions. As global trade policies continue to evolve, adaptability and strategic planning will be key to navigating the challenges ahead.
(seafood.vasep.com.vn) Thanks to improved pangasius prices and higher production, Vĩnh Hoàn's after-tax profit in Q4 2024 reached VND 440 billion, a 4.8-fold increase compared to the same period last year.
(seafood.vasep.com.vn) According to data from Vietnam’s Customs, in Q4 2024, Vietnam’s pangasius exports to China & Hong Kong reached USD 163 million, a 17% increase compared to the same period in 2023, with consistent growth across all months. The total value of pangasius exports to China & Hong Kong for 2024 reached USD 581 million, a 1% increase over the previous year.
Vietnam’s seafood exports are projected to maintain strong growth this year, potentially reaching 11 billion USD.
(seafood.vasep.com.vn) In the final quarter of 2024, Vietnam’s surimi and fish cake exports showed consistent growth over the last three months. For the entire year 2024, exports of these products reached USD 298 million, down 2% compared to 2023. However, the final quarter saw more promising signs for the surimi and fish cake export sector, with some markets experiencing notable growth, such as Thailand, China, and Taiwan. Particularly, exports to Taiwan, which had seen continuous declines in the previous two quarters, surged by 301% in this quarter.
(seafood.vasep.com.vn) Another year of pride for Vietnam's pangasius exports has concluded, reaching over USD 2 billion and contributing 20% to Vietnam's total seafood export turnover.
Vietnam maintained its position as the fifth-largest seafood exporter to Singapore for 12 consecutive months, surpassing Japan for the first time in 2024, amid the intensifying competition in this market.
(seafood.vasep.com.vn) Despite facing numerous challenges in the second half of the year, Vietnam's canned tuna exports concluded 2024 with a 17% increase compared to 2023, reaching USD 299 million. To maintain this growth momentum in 2025, the canned tuna production and export sector requires coordinated efforts from all stakeholders.
SSI forecasts a 28% year-on-year increase in after-tax profit attributable to the parent company of Vinh Hoan Corporation (VHC), driven by a gradual improvement in average selling prices from USD 3.15/kg in 2024 to USD 3.30/kg (+5%) in 2025. An Giang Fisheries Import-Export Joint Stock Company (ANV)'s after-tax profit attributable to the parent company is projected to rebound by 104%.
In 2025, the Mekong Delta province of Bac Lieu aims to earn 1.2 billion USD from exporting shrimp, one of the key export products that accounts for over 95% of its total export value.
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