August 5, 2010

VASEP proposes tra fish export fund protection

The Vietnam Association of Seafood Exporters and Processors (VASEP) has proposed setting up a fund to guarantee the quality and stabilise the prices of tra fish.

According to VASEP Vice Chairman Duong Ngoc Minh, the fund will be created by collecting export fees from tra fish products at a rate of US$0.05-US$0.1 per kg. It will be co-managed by local tra fish processors and exporters and the Steering Committee for Tra Fish Production and Export.

Minh added that the fund aims to expand the export market for tra fish as importing countries are increasingly applying trade barriers, as well as support farmers and breeders to apply Global GAP standards to their breeding farms.

The fund will also help to cover the cost of dealing with trade lawsuits that affect tra fish exports and stabilise output during market fluctuations.

Vietnam earned US$640 million from tra fish exports in H1, up 11.6% on-year, with EU and North America being the major importers.