Vietnamese businesses are highly appreciated at seafood exhibition in North America.

Sharing the results of Vietnamese businesses at the 2024 Seafood Expo North America 2024 with Mekong ASEAN, Vietnam Trade Counselor in the US, Do Ngoc Hung, said that this year's exhibition has the participation of nearly 50 countries. Among them, Vietnam has 17 businesses at the Vietnam National Pavilion, including shrimp, pangasius, tuna, and all kinds of seafood businesses. There are also 7 businesses registered directly with the organizers to have their booths outside to increase Vietnam's presence.

“Vietnam's leading seafood exporters to the United States are all present at the exhibition. Some businesses participating for the first time also attracted the attention of international businesses.

2024 is also the year with the largest number of Vietnamese businesses participating in the exhibition ever because the anti-dumping tax on pangasius fillet products is at a good tax rate for three new companies participating in the United States. Besides, two other pangasius companies were also present to explore the market, making the participation of Vietnamese businesses more exciting," Mr. Do Ngoc Hung shared.

Notably, at the Seafood Expo North America, Minh Phu Seafood Corporation (MPC) had its first export order to the United States in 2024. On the business side, according to Sao Ta Food Joint Stock Company (FMC), at the exhibition, business leaders met FMC's largest customers to discuss information and business programs in the coming time.

FMC said that the company's shrimp products are increasingly trusted in terms of quality, product design, delivery schedule, etc. in the United States. The exhibition is also an opportunity for businesses to learn more about consumer trends, strengths, and weaknesses of the shrimp industry, as well as about new equipment to serve processing lines in accordance with consumer tastes.

From the results achieved, Mr. Do Ngoc Hung said that events, exhibitions, and fairs will be the fastest and most direct contact channels for sellers and buyers to meet. Therefore, to take advantage of the best opportunities, Vietnamese businesses should invest more in these activities. Although the costs are high, they bring specific results.

 “Participating in events in the host country not only helps businesses increase sales and sign contracts, but is also a great opportunity to access information sources, grasp needs and tastes, and build long-term relationships with partners.", said Counselor Do Ngoc Hung

Talking about the potential of Vietnam's three main products in the United States, Mr. Hung said that Vietnamese pangasius has many advantages in terms of reputation in this market. Currently, Vietnam accounts for more than 80% of pangasius supplied to the United States and is the country's second-largest supplier of white meat fish.

“The annual anti-dumping tax is the only obstacle for Vietnamese businesses to expand their market. Overcoming strict regulations on the management of farming and processing chains, businesses that are recognized as qualified to export to the United States will have many opportunities to penetrate other demanding markets, such as Canada and Europe. Europe, Japan, and even China,” said Do Ngoc Hung.

Previously, the US Department of Commerce (DOC) also issued preliminary conclusions of the 19th review (POR19) for frozen pangasius fillets exported from Vietnam in the period from August 1, 2021, until July 31, 2022.

According to the final results of the POR19 review, Vinh Hoan Joint Stock Company is entitled to a tax rate of 0.00 USD/kg. Five other enterprises, Can Tho Seafood Import-Export Joint Stock Company, Loc Kim Chi Seafood Joint Stock Company, I.D.I International Development & Investment Corporation, Hung Vuong Joint Stock Company, and Cafatex Seafood Joint Stock Company are all subject to an anti-dumping tax rate of 0.18 USD/kg.

For shrimp products, Vietnam is the 4th largest shrimp supplier in this market (after India, Ecuador, and Indonesia). Vietnam has an advantage in breaded products and value-added products.

Regarding tuna products, a representative of a tuna business said that the US demand for this product has great potential. Businesses that meet regulations on anti-legal fishing, ocean protection, labor, etc. will be able to enter the market.