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.  

EVFTA vital to Vietnam’s trade integration: Eurocham leader

The EU-Vietnam Free Trade Agreement (EVFTA) will play a vital role in Vietnam’s global trade integration, helping the country become a promising business and investment market in ASEAN for European firms.

The comment was made by Chairman of the European Chamber of Commerce (Eurocham) in Vietnam Jens Ruebbert while meeting Head of the Party Central Committee’s Commission for Economic Affairs Nguyen Van Binh in Hanoi on April 19.

During the meeting, Binh hailed EuroCham’s activities in Vietnam, and its support for the country in improving business climate and national competitiveness in recent years.

While congratulating Jens Ruebbert on his election as Chairman of Eurocham in the 2017-2018 tenure, Binh expressing his belief that the guest will work hard to enhance links between the chamber and Vietnamese agencies in issues of common concern.

He also stressed Vietnam’s priorities of stepping up reforms to perfect the country’s economic institution, creating a competitive and fair business climate, and improving the national economy’s competitiveness. He affirmed that Vietnam always welcomes European enterprises to invest in the country.

He suggested Eurocham continue effectively cooperating with Vietnam’s agencies and organisations in the coming time, contributing to promoting the relations between Vietnam and the EU.

On the occasion, Jens Ruebbert introduced the White Book 2017 of the chamber, which analyses opportunities and challenges brought by the EVFTA.

He also proposed several measures to fine-tune Vietnam’s investment and business climate.

Source: VNA


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