August 16, 2007

FAO helps Vietnam's fisheries industry

The UN Food and Agricultural Organization (FAO) pledged to provide US$250,000 for Vietnam's fisheries to enhance the industry's capacity and promote its poverty reduction campaign on its integration with the World Trade Organization.

The signing ceremony took place in Hanoi on August 14 in the presence of Deputy Minister Nguyen Viet Thang of Agriculture and Rural Development, who has been assigned to execute the project as well as Vietnam's FAO representative.

The 12-month project is aimed to improve Vietnam's commitments to the WTO as well as providing involved parties on WTO agreements particularly on aquatic trade and an open investment for seafood processing and trade promotion.

In addition, the project is also expected to benefit all fishing branches by improving livelihoods of coastal fishermen, upgrading seafood processing technology, creating favorable conditions to market access, and building up regulations on seafood.

Vietnam currently ranks the seventh largest exporter and fifth biggest producer of seafood products globally in the 2001 to 2005 period, according to FAO statistics.

FAO ranked Vietnam in 12th place on the list of fish catching nations during that period.