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.

Seafood export opportunities incoming

16:50 06/09/2015

(vasep.com.vn) Vietnam has officially signed a free trade agreement with Eurasian Economic Union. This creates endless opportunities to export seafood and other types of goods to this market.

Russia has shown to be an important market for Vietnam seafood. As the trade deal is signed, seafood exported from Vietnam into Russia will be tax free, from the current 10%. Russian market with 140 million consumers and relatively high demand is now open to Vietnamese companies.

According to Mr. Nguyen Van Dao, Godaco Seafood, this will hopefully bring more positive market signals for pangasius consumption. Mr. Nguyen Viet Thang, chairman of Vietnam Pangasius Association believes that the trade deal gives companies a chance for to expand markets, promote products, renew technology and most importantly enhance producing value-added products.