VOV.VN - With flexible market strategies, deeper processing and focus on niche markets, Vietnam’s seafood industry aims to sustain growth and reach its 2025 export target of US$11 billion.

Enterprises should look for niche markets to better cope with declines in exports in major markets.

A conference was held in Tam Ky city of the central province of Quang Nam to seek ways to exploit promising and niche markets in the European Union (EU) basing on advantages from the Vietnam-EU Free Trade Agreement (EVFTA) and connections with international distribution systems.

Boosting Vietnam’s exports to niche markets was key to minimising the impact of a looming global recession, said Vu Ba Phu, head of the Department of Trade Promotion under the Ministry of Industry and Trade.

VOV.VN - Vietnamese businesses are expected to export 155,000 tonnes of cashew nuts worth US$900 million to the European Union in 2022, representing a rise of 15% in volume and 10% in value compared to 2021, according to forecasts set out by the Ministry of Industry and Trade.

Vietnam’s seafood exporters are seeking ways to boost shipments to niche markets, as COVID-19 is disrupting supply chains, hindering logistics services and raising transportation costs.

Vietnamese businesses are believed to possess opportunities, especially in niche markets, when exporting fruit and vegetables to Northern Europe, according to the Cong Thuong (Industry & Trade) newspaper.