May 16, 2005

Vietnam's fish exports to EU to continue rising

According to Vietnam's seafood association, its fish exports to Europe rose significantly in 2004, and will continue surging this year.

The country's fish sales to the European Union reached US$110 million last year, up 300 percent from the previous year, said the Vietnam Association of Seafood Exporters and Producers (Vasep).

This was equivalent to half of the country's total seafood exports to this market, and 20 percent of its total outbound fish sales, said Vasep.

The EU will still remain a large market for Vietnamese businesses to boost fish exports as regional demand for seafood is rising, the association said.

Vasep said EU expansion to the East was not only a good opportunity for Vietnam to increase seafood exports, but also to establish a new market for low-priced seafood.