GENERAL INFORMATION

In Vietnam, the fishery sector plays an important role in the national economy, accounting for about 4-5 percent of Gross Domestic Product (GDP) and about 9-10% of national export revenue.

More than 4 millions of people working in the fishery and the growth in production have attributed to the fish exports. Thanks to strongly increase in many years, Vietnam ranks among the top ten seafood suppliers and its seafood products are exported to 170 markets in the world.

Shrimp, pangasius, tuna, squid and octopus are main seafood products exported by the country. In which, shrimp exports create about US$ 3.5 – 4 billion, make up 46-50% of the total seafood sales of Vietnam. Earnings from pangasius reached at US$ 1.7 – 1.8 billion (25% of the total) and exports from Tuna and Cephalopods are US$ 450 – 550 million for each.

Exports to the U.S, Japan, EU, China and South Korea make up 75% of Vietnam’s seafood sales to the wolrd.

5 advantages for Vietnam seafood exports:

(1) High commitment and participation from Government, Industry and companies for food safety, environment and social responsibility;

(2) Able to supply the big volume and safe quality and stable seafood products;

(3) Meet all the customers’ requirements, incl. the vertical linkage (integration) for each species sector;

(4) Vietnam is one in few countries in the world which has the good and stable labor resource;

(5) Vietnam has Agreements / FTAs with many countries and territories and has advantages both in product quality and im-ex tax.

Egypt – The 2nd largest importer of Vietnam goods in Africa

11:03 09/01/2016

(seafood.vasep.com.vn) In the period of 2010-2015, Vietnam exports to Egypt were on the upward trend, except in 2013 and 2015. In 2015, the export turnover hit US$361.68 million, a slight drop of 4.83% over the same period in 2014.

Vietnam mainly exports seafood, coffee, pepper, fibers and yarns of all kinds, textiles, iron and steel, machinery and spare parts, vehicles and spare parts to Egypt.

Among total export turnover of Vietnam goods to Egypt, seafood exports to the market picked up the 2^nd biggest proportion, with the value of US$21.67 million, down 31.77% over the same period last year. Thanks to a population of over 90 million, the country has a high demand for fishery products. Each year, imports of seafood items into Egypt are at around US$600-700 million, with the annual growth rate of 5-6%. Canned fish accounts for about 47.9% of total seafood imports by Egypt. Currently, in addition to pangasius and frozen shrimp, Vietnam also boosts exports of canned tuna products to this market.

To expand exports to Egypt, Vietnam enterprises should actively participate in trade fairs, exhibitions and workshops to identify opportunities for collaboration.

Compiled by Dieu Thuy