Viet Nam Makes Top Ten

VIET NAM - With an export turnover of $3.75 billion for 2007, a 12 per cent increase from 2006, Viet Nam has officially reached the top 10 standing of countries with the highest marine export turnover in the world.

One year after joining the World Trade Organisation (WTO), the number of businesses meeting international standards of marine product exports to large markets like the EU, US and Japan has doubled.

In 2007, 1,200 enterprises got the go-ahead to export marine products to 130 nations.

Diversification

The aquaculture industry has diversified its products. Previously, shrimp was the main product but now only accounts for 40 per cent of the total, along with catfish and other marine products. This year’s export target for the sector is $4.25 billion.

The Ministry of Agricultural and Rural Development considers the international marine market to be a big draw for Vietnamese enterprises. The biggest challenge is the technical barriers for processing exported marine products. It is now intensifying quality and hygiene safety investigations for exported marine products.

Further Reading

- For another report on this subject click here.

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