August 25, 2009

Vietnam's fisheries sector has one of the fastest growth rates in the world at 18 percent per year during the 1998-2008 period, but there are concerns that the growth is unsustainable.

 

The Ministry of Agriculture and Rural Development (MARD) said that Vietnam has been listed among the top ten aquatic product exporters in the world since 2001. In 2008, Vietnam jumped to sixth place in export turnover, third in aquaculture output and 13th in seafood catch.

 

Within two years of the WTO integration, the sector has achieved high growth rates, with 4.2 million tonnes in output and US$3.8 billion in export turnover recorded in 2007, and 4.6 million tonnes and US$4.6 billion in 2008.

 

The Vietnam Association of Seafood Exporters and Producers (VASEP) said Vietnam's aquatic products now are sold to more than 160 countries and territories worldwide with the quality continuously improving.

 

So far, over 300 enterprises meet EU standards for imported products, and more than 400 export to the US, China, South Korea and other markets.

 

For the domestic economy, the fisheries sector plays an important role. During the past 15 years, the sector has contributed over five percent to the country's GDP.

 

On the domestic market, each Vietnamese annually consumes an average of up to 36 kg of aquatic products, and the figure is continuing to increase.

 

However, it is the sector's high growth in both production and export value that provokes concern over the sustainability of this development.

 

The development of the fisheries sector in the recent times is too quick and unstable in all economic, environmental and social aspects, said VASEP Vice President Nguyen Huu Dung.

 

Besides threats to the environment or the exhaustion of aquatic resources, Vietnamese aquatic producers have not yet built up trademarks for their products, and have to sell under the labels of importers or foreign distribution networks.

 

Moreover, the promotion of Vietnamese aquatic products on the world market is hindered by an irrational production price structure, according to VASEP.