Aquatic product export estimated at US$3.94 billion in first half

Export value of aquatic products was estimated at US$732 million in June, bringing the figure for the first half of the year to US$3.94 billion, up 10.5 percent annually, according to the Ministry of Agriculture and Rural Development.

Major markets - Japan, the US, China and the Republic of Korea - accounted for 52.9 percent of the total value. 

In the first five months of this year, markets posting strong growth include the Netherlands (63.1 percent), Germany (27.7 percent), and Hong Kong (China) (23.6 percent). 

According to the Agro-Processing and Market Development Authority, there is positive prospect for aquatic products export in the near future, especially in China as from July 1, import tariff on 221 aquatic products from member countries of the World Trade Organisation will be cut by 2-10 percent. 

Moreover, demand for fishery products in China is increasing, particularly for tra fish, tuna, frozen shrimp, fish oil, dried and canned fish. 

Import tariff on frozen tra fillet will be cut to 7 percent from 10 percent while taxes on fresh and frozen tra fish will be reduced from 12 percent to 7 percent. 

Vietnamese and Chinese seafood traders have asked customs offices at Hekou border gate to reform customs clearance for Vietnamese agro-forestry-fishery products, making it easier for them to enter Kunming city via Hai Phong – Hanoi – Lao Cai – Kunming road and wholesale markets. 

Meanwhile, seafood export to traditional markets such as the EU and US is facing difficulties regarding tariff and food safety quarantine. 

The Ministry of Agriculture and Rural Development assigned the Directorate of Fisheries to build trademarks for shrimp and tra fish under the project “Improving competitiveness of fisheries sector in the context of global economic integration”. 

The Government also required the Ministry of Industry and Trade to assist firms in building, protecting and developing Vietnamese shrimp trademark under the Decision No.79/QD-TTg dated January 18, 2018.