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.

Vietnam, EU likely to sign FTA soon

14:27 03/16/2018

Vietnam and the European Union (EU) are likely to sign the EU-Vietnam Free Trade Agreement (EVFTA) soon, Daniel Muller, ASEAN Regional Manager for the German Asia-Pacific Business Association, said in an interview granted to Vietnam News Agency (VNA) reporters in Germany.

The EVFTA is the bloc’s first comprehensive free trade deal with a developing country in Asia. Negotiations began in June 2012 and were completed in December 2015 with contents similar to those with Japan, Indonesia and Singapore.

The deal needs approval from the European Council, the European Parliament and all EU member countries.

Muller said the EU and Japan, Singapore and Vietnam share interests in free trade agreements, especially at a time when the US is carrying out its trade protectionism policy, withdrew from the Trans-Pacific Partnership and denied to deal with common crises in multilateral free trade.

According to him, Vietnam and the EU reached basic consensus on the deal in 2015, and Vietnam needs to fix management shortcomings already mentioned by the bloc.

VNA