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.  

Hungary to soon ratify Vietnam-EU Free Trade Agreement

Deputy Foreign State Secretary Szilveszter Bus of Hungary has affirmed Hungary has endorsed the Vietnam-European Union Free Trade Agreement and will soon pass it to lay a foundation for furthering economic-trade cooperation between the two countries.

He made the affirmation at a political consultation with Vietnamese Deputy Minister of Foreign Affairs Nguyen Quoc Dung to exchange issues on bilateral cooperation and some regional and international issues of shared interest in Hanoi on September 29. The Hungarian official is on a visit to Vietnam from September 29-30.

The two sides agreed on measures boosting cooperation, like exchanges of delegation and coordination at international and regional forums, especially at the United Nations and the Asia-Europe Meeting.

They called for boosting cooperation in science-technology, aquaculture, food processing, education and training, culture.

The two sides discussed projects funded by Hungary’s official development assistance capital in Vietnam.

The two sides appreciated the cooperation between the two Foreign Ministries, including maintaining a political consultation mechanism on bilateral relationship issues, world and regional situation, coordinating viewpoints on important international issues.

They noted on the importance of solving disputes, including those in the East Sea via peaceful measures based on international law, including the 1982 United Nations Convention on the Law of the Sea (UNCLOS), ensuring security, safety, freedom of maritime and aviation navigation.

During the visit, Szilveszter Bus signed a cooperation agreement between the Hungary Institute for Foreign Affairs and Trade and the Diplomatic Academy of Vietnam, talked about the European situation and the Hungary-Vietnam relations with students from the Diplomatic Academy of Vietnam, and visited some economic and cultural establishments in HCM City.

Source: VNA


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