April 1, 2009

Vietnam's earnings from seafood exports to Russia could rise to US$500 million in the next few years if exporters comply with hygiene and safety standards, according to speakers at a seminar in Ho Chi Minh City held early this week.

Duong Ngoc Minh, head of a coordinating committee of tra catfish export to Russia said that the market had a high demand for catfish and shrimp.

Imported seafood products now account for 70 percent of the market share in Russia.

Minh said local seafood exporters in the next few days would sign a contract to export 7,000 tonnes of tra catfish.

The move is a result of concerted efforts from both Vietnam and Russia, after the latter halted the import of Vietnamese seafood in December 2008 because of hygiene and safety-related issues.

Figures show that last year Vietnam exported some 118,000 tonnes of seafood to Russia, worth US$188 million.

Minh also said that Russia would surpass the EU and Japan to become Vietnam's largest seafood importer in the near future, but export products must follow the requirements on quality as well as food hygiene and safety set by both Vietnam and Russia.

In addition, seafood enterprises must ensure food hygiene and safety from breeding, processing and storage to transportation.

Enterprises have to prove that they have their own raw materials for processing, have cold storage systems, and meet other requirements to be eligible to export products to Russia.