July 24, 2010

Vietnamese seafood exports to EU fall 11% amid IUU

Vietnam has earned US$133.5 million from exporting 35,500 tonnes of offshore-caught seafood to EU since January, down 11% in value and 9% in volume on-year due to weaker euro, rather than EU's IUU enforcement.

The Fisheries Exploitation and Protection Department under the Ministry of Agriculture Rural Development (MARD) said that local firms have been familiar with the IUU regulations.

The exports mostly dropped in the first quarter because Vietnamese firms felt puzzled in implementing the rules, the department said on Thursday (July 22). The situation has been better since early Q2, it noted.

Local firms, however, complained that cumbersome procedures are preventing them from applying the rule.

To deal with problems, the department said it will work with the European Commission's agencies to complete certificate of origin forms while setting up closer link between ship owners, traders, exporters and authorities.

EU was the largest market for Vietnamese seafood with import revenues of US$420 million in H1, accounting for 21% of Vietnam's total seafood export revenues.