Vietnam promotes seafood trade to Middle East - Africa

Export potentials 15:40 30/08/2016
(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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