Seafood export targets turnover of US$ 10 billion

Minister of Agriculture and Rural Development Nguyen Xuan Cuong yesterday said that the export plan of the fisheries sector would be expected to reach by US$ 10 billion or more in 2019, an increase of 11 percent compared to 2018 (nearly US$ 9 billion).

Seafood export targets turnover of US$ 10 billion

Seafood export targets turnover of US$ 10 billion

The positive number has been based on the potential development and market of three product groups. Accordingly, shrimp would strive to reach US$ 4.2 billion, pangasius would maintain at US$ 2.3 billion and other seafood would earn US$ 3.5 billion (mainly tuna).

In order to reach the target, Minister 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 (such as taking advantage of fish oil extracted from pangasuis processing by-products, collagen, etc for export), and well expand the market. 

Besides maintaining traditional import markets such as the United States, the European Union, Vietnam needs to expand new markets in Japan, South Korea and China because these are very potential markets. 

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 Minister of Agriculture and Rural Development also said that it was necessary to recognize challenges  and find out ways to deal with the challenges in exploitation which was already imposed “the yellow card” by the EU in illegal, unreported and unregulated (IUU); in aquaculture technique which helps cut down  the depreciation rate of fishery raising and processing.



BY CONG PHIEN – Translated by Huyen Huong

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