VN targets US $7 bil. seafood export turnover during 2010-2020

Seafood continues to be a strength of Việt Nam

According to the Việt Nam Association of Seafood Exporters and Processors (VASEP), by early this month, the country’s seafood export turnover hit US $4 billion.

In the first ten months of this year, Việt Nam exports 1,054,600 tons, valuing US $3.828 billion, up 39.4% in quantity and 24.4% in value compared to the same period last year.

The European Union remained Việt Nam’s largest seafood importer, with nearly US $970 million, an increase of 29.3% compared to the first ten months of 2007.

Export volume to Japan rose by 14.4%, reaching US $693 million. The Northeast Asian country is the largest market for Việt Nam’s frozen shrimps, amounting to US $412 million, 4.2% higher than the same period last year.

The US, third largest market, imported US $624 million worth of seafood, up 5% against the reviewed period.

The export surge was attributable to increasing demands for catfish and prawns. Besides, the Vietnamese Government has created best conditions for the sector to thrive.

In addition, domestic processors’ technologies have seen as on a par with those in the region and the world.

Among 470 seafood processors in Việt Nam, 245 are allowed to export their products to the EU and 34 to the US and Canada.

According to the Ministry of Agriculture and Rural Development, “food production-breeding-export processing” are three decisive pillars in the sector’s sustainable development strategy. Investment promotion has been enhanced to expand the consumption markets.

In its 2010-2020 development plan, the MARD sets to obtain a minimum export turnover of US $7 billion from seafood.

By Ngọc Vân