Vietnam sees more opportunities for seafood exports in 2014

HANOI, Jan. 15 (Xinhua) -- Despite many difficulties, Vietnam's exports of seafood products saw growth of over 10 percent in 2013 on the previous year, and are predicted to keep the growth trend in 2014 due to improving signs from major markets.

Vietnam Association of Seafood Exporters and Producers (VASEP) said on its website on Wednesday that Japan, the European Union ( EU) and the United States would remain as Vietnam's major seafood importers in 2014, while China and China's Hong Kong are emerging as potential markets.

Japan is gradually opening wider to Vietnamese seafood products, as in early 2014, the Japanese authorities eased the Ethoxyquin content requirement for shrimp imported from Vietnam to 0.2 ppm, from a previous level of 0.01 ppm, said the association.

In addition, exports to potential markets including China and China's Hong Kong are expected to be boosted in 2014. In 2013, seafood shipments to the two destinations were worth around 650 million U.S. dollars in total, up 55 percent from 2012. The VASEP assessed that changing lifestyle and higher living standards contributed to boosting seafood consumption in these markets.

In 2013, Vietnam's shrimp exports accounted for a large proportion of over 60 percent in Vietnamese seafood export turnover to China. The association is dedicated to make inroads into the Chinese and Indian markets for pangasius (tra fish).

Furthermore, Vietnam is setting up a distribution center for pangasius products exported to the EU at the port of Zeebrugge in Belgium. Vietnam is expected to see more pangasius export opportunities to this huge market via the port.

VASEP and the Management Board of Zeebrugge port in late 2013 signed a memorandum on the establishment of the distribution center. VASEP said this is one of the largest ports in Europe and it takes only several hours to transport imported seafood products from Zeebrugge to other European countries. If this plan is fully realized, Vietnam's seafood will have more advantages in the EU.

Currently, Vietnamese seafood products are exported to the EU through Belgium by individual shipments. Therefore, the establishment of a distribution center will help concentrate Vietnamese seafood suppliers to the EU as well as reduce costs.

In 2013, Vietnamese seafood products were sold to 156 countries and regions, generating a total revenue of 6.7 billion U.S. dollars, said VASEP.

In 2014, Vietnam is set to focus on developing seafood processing chain from production to consumption with application of high technology, which is expected to earn bigger profit, said the association.

Source: Xinhua