March 29, 2011

Vietnam seafood exports to Japan to remain strong

With the recent disaster in Japan, Vietnamese seafood firms report decreases in seafood exports, but say the effect is minor as demand will continue to be strong.

Vietnam seafood exporters said Japanese provinces which were affected by the recent earthquake and tsunami are not major destinations of Vietnam's seafood. With seafood as an essential daily product, demand from Japan is expected to remain strong.

Chairman of the Vietnam Seafood Corporation, Vo Phuoc Hoa, said his company is working on export contracts to Japan as usual.

General Secretary of the Vietnam Association of Seafood Exporters and Processors (VASEP), Truong Dinh Hoe, said VASEP will follow developments closely, as Japan is the second largest market of Vietnamese seafood after the EU.

The Ministry of Industry and Trade reported that Japan is Vietnam's fourth largest trade partner and the third largest importer. In the first two months of 2011, seafood exports to Japan grew considerably. Export revenues of Vietnam seafood increased almost 21% on-year to US$106 million.