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.

MoIT optimistic on trade with Japan

17:01 06/26/2015

Vietnam’s combined imports and exports to Japan is forecast to reach US$30 billion in 2015, an increase of US$2 billion when compared against last year, according to Ministry of Industry and Trade (MoIT).

Japan is the third largest importer of Vietnam goods and services, just after China and the US. Key exports to Japan are garments and textiles, footwear, handicrafts, furniture, seafood, crude oil, computers and electronics.

Notably, Vietnam generated US$2.7 billion from exporting garment and textile products to Japan last year, which is expected to grow to US$3 billion this year.

Le An Hai, deputy head of the Asia-Pacific Market Department of the MoIT affirmed Japan is one of the major markets and an important trading partner of Vietnam.

(Source: VOV)