“If, despite the House of Representatives vote to repeal the USDA program this summer, the United States insists on putting the program into place, our Government will have no choice but to consider available remedies,” a draft letter by Foreign Minister Pham Binh Minh and Trade Minister Vu Huy Hoang states.
The letter also says the catfish program could affect ongoing TransPacific Trade talks with the U.S.
“The promise of deepened commercial relations, we believe, has been and will continue to be a major incentive for both the United States and Vietnam to support the Trans- Pacific Partnership,” the letter states.
“The USDA program threatens to reverse this progress and falls short of the spirit of the newly formed Vietnam - U.S. Comprehensive Partnership announced by our two Presidents in July. Our Government is unwilling to sit by as this program is implemented, and thereby lose access to the United States market, when the program so clearly violates America’s WTO obligations and when the product in question makes such an important contribution to Vietnam’s rural economy,” the ministers add.
A source at the Vietnamese Embassy said that the letter had not been sent yet and “may not be sent.”
The draft was originally sent to reporters and hailed by a spokesman for the National Fisheries Institute, the nation's largest seafood trade association and an opponent of the catfish inspection program.
The U.S. Agriculture Department catfish program is supported by domestic catfish growers and Southern members of Congress. They argue that a separate inspection program is needed because the Food and Drug Administration cannot handle the inspections.
The House voted to end the separate USDA program but the Senate did not consider an amendment to do so this year.
Vietnam argues the separate program is just being set up as a barrier to discourage imports of Vietnamese pangasius.
(seafood.vasep.com.vn) The US remains Vietnam’s largest single market for shrimp imports, accounting for 20% of Vietnam's total shrimp exports globally. As of October 15th, 2024, Vietnamese shrimp exports to the US reached nearly 600 million dollas, marking a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) According to Vietnam Customs, pangasius exports to Canada reached over 1 million USD in the first half of October 2024, a 33% decrease compared to the same period last year. However, by October 15, 2024, total pangasius exports to Canada had reached 32 million USD, reflecting a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) Cà Mau is accelerating its digital transformation, developing green industries, and promoting high-tech processing of agricultural and aquatic products, with a focus on sustainable economic growth and environmental protection.
(seafood.vasep.com.vn) The Dong Thap Pangasius Festival 2024, themed 'Dong Thap Pangasius: Green Journey - Green Value', will take place on November 16-17 in Hong Ngu City.
The positive business momentum in the domestic seafood sector could last into the first half of 2025, according to experts.
(seafood.vasep.com.vn) In the first three quarters of 2024, brackish water shrimp production exceeded 1.1 million tons, with export revenue reaching $2.8 billion. The seafood industry has set a target of $4 billion for shrimp exports for the entire year.
While the price of 1 kg of shrimp hovers around 20 USD, the value of 1 kg of chitosan—extracted from shrimp—can soar to 500 USD. This highlights a significant challenge within the seafood processing industry.
(seafood.vasep.com.vn) By October, Vietnam's shrimp exports had generated nearly $3 billion, reflecting an increase of over 10% compared to the same period last year. Shrimp remains the leading commodity contributing to the export turnover of the entire seafood industry.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (FIMEX VN - HoSE: FMC) concluded Q3/2024 with significant growth in revenue. Specifically, Sao Ta Food recorded revenue of VND 2,845 billion, a 58.6% increase year-on-year. The company's profit after tax reached VND 95 billion, up 6.2%.
VASEP's Seafood Export Report for the third quarter of 2024 provides a comprehensive overview of Vietnam's seafood export performance in the first nine months, with impressive results reaching $7.2 billion—an increase of 9% over the same period last year. In the third quarter alone, seafood exports grew by 15%, totaling $2.8 billion. This growth is attributed to a recovery in demand and prices in key markets such as the U.S. and China, as well as the competitive advantage of value-added products in markets like Japan and Australia.
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