Vietnamese Seafood export targets US$ 10 billion in turnover in 2019

The Vietnamese aquatic sector set a target of raising its export revenue to US$10 billion in 2019, according to the Viet Nam Association of Seafood Exporters and Producers (VASEP).

20 February 2019 - VGP

The Vietnamese aquatic sector set a target of raising its export revenue to US$10 billion in 2019,  according to the Viet Nam Association of Seafood Exporters and Producers (VASEP).

In order to reach the target, Minister of Agriculture and Rural Development Nguyen Xuan Cuong said that it was necessary to have a synchronous chain from fishing, aquaculture, applying science and technology, complying with the process of exploitation and farming to have clean materials.

In processing, it is necessary to innovate technological processes, management, take advantage of secondary products to have a long value chain with increased value.

Viet Nam’s main aquatic export markets include the U.S., Japan, the EU, China, the Republic of Korea, and others.

Additionally, it is important to focus on the domestic market with 96 million people and 15 million tourists. To implement the plan, the Government, businesses  and trade and proffesional associations must connect raw material areas and raising and exploiting fisheries need to meet the requirements of quality from importers.

The Vietnamese aquatic industry is expected to gain total export revenue of US$10 billion in 2019, an annual increase of 10-12%, including US$4.2 billion worth of shrimp exports, US$2.3 billion from tra fish exports and US$3.5 billion from seafood exports.

Source: VGP News

Illustration Photo: Vietnamese fish farm (credits: T-Oh! & Matt / Flickr Creative Commons Attribution-NonCommercial-NoDerivs 2.0 Generic (CC BY-NC-ND 2.0))

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