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.

FTA between VN – EAEU facilitates Vietnam pangasius exports

09:14 10/28/2016

(seafood.vasep.com.vn) Vietnam pangasius exports to Russia, as well as to other member states, will benefit greatly from the Free Trade Agreement (FTA) between Vietnam and Eurasian Economic Union, which has taken effect recently.

The FTA between Vietnam - EAEU not only helps Vietnam access to a big regional market that unites more than 180 million people in countries such as Russia, Kazakhstan, Belarus, Armenia and Kyrgystan, but also Vietnam's goods enjoy the tax rate of 0%. Of that, Vietnam seafood exports, particularly pangasius items shipped to Russia, as well as to other member states will benefit greatly from this agreement.

Compiled by Dieu Thuy