Vietnam’s imports of high-value seafood such as king crabs and lobsters are rising due to their falling prices, and are expected to rise even further during the Lunar New Year (Tet) Festival, experts have said.

The Vietnam Association of Seafood Producers and Exporters (VASEP) said it plans several measures to help its members further penetrate the global supply chain and enable the fisheries sector to reach its export target of US$12 billion in 2025, 40% higher than this year.

VOV.VN - One year on from the implementation of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Vietnam's two-way trade turnover with Mexico, Chile, and Peru has reached US$5.12 billion, with the country recording a trade surplus of US$3 billion.

Vietnam’s seafood export turnover in the first 11 months of 2020 hit US$7.75 billion, down 0.9% from the same period last year, according to the Ministry of Agriculture and Rural Development (MARD).

The US$300-billion export target set in early 2020 remains challenging, requiring not only strong efforts from local enterprises, but also the recovery of global demand amid complicated COVID-19 situation.

A shortage of personnel has been creating problems for coastal areas in supervising fishing boats, an agricultural official told a conference on Illegal, Unreported and Unregulated (IUU) fishing held recently in the south-central coastal province of Khanh Hoa.

VOV.VN - Due to the adverse impacts caused by the COVID-19 pandemic, the nation’s seafood exports for the entire year are anticipated to reach approximately US$8.2 billion, thereby failing to meet the export target of US$10 billion, according to the Agro Processing and Market Development Authority (Agrotrade).

Vietnam needs to strengthen measures to achieve the sustainable development of seafood exports to the EU market, especially after the EVFTA comes into effect, according to experts.

VOV.VN - Vietnamese seafood exports to Canada have witnessed robust growth in recent times following the implementation of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), with shrimp, tuna, and basa fish making up a high market share in the Canadian market, according to industry insiders.

Removing the European Commission (EC)’s illegal, unreported and unregulated (IUU) fishing “yellow card” is not easy and cannot be done overnight, but the Vietnamese business community and associations are still determined to do, not only to meet EU requirements, but also for the sake of sustainable fishery development.