Exports forecast to reach US$9 billion this year

SGGP
According to the Ministry of Agriculture and Rural Development, in the first six months of this year, export value rose by 6.5 percent; total aquatic production reached 3.79 million tons, up 6.2 percent over the same period last year, of which wild fisheries production hit 1.88 million tons, up 5.4 percent; farmed fisheries production touched 1.92 million tons, up 7 percent.

Exports forecast to reach US$9 billion this year

Aquatic exports in the first six months of this year reached US$4 billion, an increase of 9.6 percent compared to the same period last year.

The result was achieved after the ministry brought out several solutions, such as new regulations in aquaculture, requirements for fish farming facilities, registration for cage farming and granting permission for marine fish farming. In addition, the ministry has always controlled the quality of aquatic feed and aquaculture environmental treatment products and food safety in fish farming.

According to the Vietnam Association of Seafood Exporters and Producers, aquatic exports to the EU market in the last six months will possibly be more optimistic after the EU-Vietnam Free Trade Agreement becomes effective.  

The US and Japanese market will possibly post higher growth, especially for shrimps. It is forecast that aquatic exports in the last six months of this year will recover with growth of about 5 percent, exceeding $5 billion, sending total export turnover this year to around $9 billion, up 2 percent compared to last year.

At the same time, aquatic industry will continue to remove trade barriers to expand market, promote trade promotion of Vietnamese key export products of Vietnam in some countries and strive to lift yellow card of the EU on aquatic products of Vietnam.

By Quy Ngoc – Translated by Thuy Doan

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