Vietnam expands seafood exports to China

Vo Hung Dung, VPA Vice President, said Vietnam’s seafood export value to China rose from about US$400 million in 2014 to US$1.8 billion in 2017, helping China surpass the US to become the country’s biggest seafood importer.

However, he pointed out the possibility of ending contracts ahead of schedule, thus putting Vietnamese businesses at risk. 

Therefore, it is necessary to be cautious while stepping up exports to this market, the official stressed. 

Cen Jian, a representative of the Yuexi fisheries association, suggested Vietnamese seafood firms ship their products via official channels to avoid the risk, protecting the interests of both exporters and importers. 

Ta Minh Phu, President of the Bac Lieu Seafood Association, raised concerns regarding China’s incentives and tax policies for Vietnamese aquatic products. 

In reply, the Chinese side said Vietnamese seafood businesses enjoy a preferential import tax rate of zero percent for the whole year, which is a great advantage for Vietnam compared with the rate of 2.5% imposed on Malaysia and Indonesia. 

Tran Thanh Phong, Deputy Secretary General of the VPA, said his association will implement five groups of solutions to promote exports to the Chinese market. 

The association aims to successfully materialise the Vietnam-China border trade agreement, set up trade links with Guangxi, Yunnan and Guangdong, utilise incentives fro the ASEAN-China Agreement, urge China to remove technical barriers in the sector and intensify trade promotion through exhibitions and fairs. 

On this occasion, the Chinese side released information about a seafood fair in Zhanjiang city from June 18-20, 2018, which is expected to draw about 200 businesses. 

Participating Vietnamese firms will be exempt from all costs and provided with market information, they said.