Auspicious start for Vietnamese seafood exports to EU

Tuna shipments experienced a remarkable recovery as export revenue surged 21% year-on-year to nearly US$41 million in January, following an 18% drop in December 2017.

The export of cuttlefish and octopus to the EU recovered from a 3.6% decrease in Quarter 4 of 2017, picking up 5% on a yearly basis.

Meanwhile, the industry pocketed US$106 million from fish exports and over US$8 million from crab and other crustaceans, up 24% and 7%, respectively.

However, seafood exports are forecast to face formidable challenges when the EU is intensifying the examination of the catch certificate of Vietnamese seafood.

Currently, the Vietnamese authorities are striving to regain “green card” for the seafood sector.

Vietnam was served with a yellow card warning by the EU in September and it has been offered the opportunity to take measures to rectify the situation within six months.

To this end, the EC has proposed an action plan for the country. The "yellow card" is followed by a "green card" if issues are resolved or a "red card" if they aren’t. A “red card” can lead to a trade ban on fishery products.

The Ministry of Agriculture and Rural Development is implementing urgent solutions in response to the EU’s warning on IUU fishing with the focus on drafting a decree guiding the enforcement of the 2017 Law on Fisheries and submitting a new document replacing existing regulations on administrative fines in fishing activities.

Seafood businesses have committed to fighting against IUU fishing to protect Vietnamese seafood’s prestige and bolster sustainable seafood development in the country.