November 21, 2003

Vietnam Planning to Boost Seafood Exports Into 2004

Vietnam has worked out concrete measures to export more seafood in the remaining months of this year as well as in 2004.

The country will create more favorable conditions for local seafood exporters to fulfill this year's export target of some US$2.3 billion, according to a report of Vietnam Economic Times on Thursday.

Relevant authorities will also offer detailed guidelines regarding markets and procedures to new producers and exporters, especially those working in the fields of fish fillets and shrimps.

Besides facilitating local firms, the Trade Ministry will closely follow the demands of foreign markets to help enterprises promote sales to lucrative markets.

Regarding the US market, it is preparing counter measures to deal with possible shrimp lawsuits. Simultaneously, trade promotion to the Chinese market will be intensified to make full use of purchasing power of 1.2 billion people.

Additionally, inspecting the quality of imported materials for shrimp export will be strictly carried out in the remaining months of 2003. Vietnam obtained seafood export turnover of 1.7 billion dollars in the first 10 months of this year, up 9.7% over the same period last year.

This is the lowest growth rate of the sector over the past 10 years.