China will be the biggest seafood importer of Viet Nam

According to Vietnam Association of Seafood Exporters and Producers (VASEP), seafood export turnover in 2018 can reach US $ 10 billion, increasing US $ 1.7 billion year on year.

 

In the first 4 months of this year, seafood export reached US $ 2.5 billion. Four leading import markets were the US, Japan, EU and China. Notably, China’s market share has grown steadily in recent years. Vietnam’s seafood export value to China rose to US$1.28 billion in 2017, helping the country become Vietnam’s fourth biggest seafood importer and accounting for 15% of total import turnover. China is currently Vietnam’s biggest trade partner in general and 4th biggest trade partner in fishery sector. It is forecast that China could become the first seafood importer of Viet Nam since Q2 thanks to its largest growth rate of 37 per cent. Currently, trade promotion in China has not paid attention fully. The Ministry of Agriculture and Rural Development will soon hold a trade promotion event in the northern province of Quang Ninh with Chinese importers. Besides, the ministry will also pay working visits to China to address trade barriers for exports of Vietnam’s staples such as seafood, fruits and rice, among others.

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