Vietnam seeks larger seafood exports to US

Seafood producers in Vietnam expect to see great chances to increase their market shares in the US, as domestic exporters are planning on building a distribution system for the market.

Ministry of Agriculture and Rural Development (MARD) deputy minister Luong Le Phuong said that the two largest tra fish exporters, Binh An Seafood Jointstock Co (Bianfishco) and Hung Vuong Seafood Jointstock Co, are building their distribution systems in the US to provide more opportunities for Vietnamese tra fish and seafood products to enter that market.

The Head of the Bianfishco, Pham Thi Dieu Hien, said she spent 80 days in the US learning about this large market. So far, the company has exported 30 containers of tra fish products via its distribution system, still under trial.

In March 2009, the company established the Bianfishco US Company in Los Angeles, California, with a total investment of US$80 million.

Phuong said that all seafood exporters should pay attention to three things when building their distribution systems in the US. Their first partner in the country has to be native one, they have to draw a lot of media attention and keen on developing their trademarks and they have to have lawyers and keep close relation with local authorities.

Vietnam earned US$1.4 billion in tra and basa fish exports in 2009, including US$140 million from the US.