VietNamNet Bridge – The Vietnam Association of Seafood Exporters and Producers (VASEP) is pinning high hopes that seafood shipments to ASEAN markets will continue increasing this year.

Employees of a seafood enterprise semi-process fish fillets. VASEP expects exports of fish to ASEAN to continue growing this year – Photo: TL

VASEP’s projection is based on growth in seafood export to ASEAN last year. Vietnam’s seafood exports to ASEAN markets jumped last year but slid in other markets including the United States, the European Union (EU) and Japan.

According to VASEP, Vietnam got US$6.57 billion from seafood exports in 2015, dropping over 16% year-on-year as outbound sales from the U.S., the EU, Japan and other markets declined.

Particularly, seafood revenue from the U.S. fell by over 24% to US$1.32 billion, the EU by nearly 18% to almost US$1.2 billion, and Japan by nearly 14% to over US$1 billion.

Enterprises also had difficulty scaling up shipments to South Korea, Taiwan and China, which were expected to buy more Vietnamese seafood.

However, 2015 was a favorable year for local seafood firms to sell products to ASEAN markets. As reported by VASEP, seafood export revenue from ASEAN reached nearly US$500 million last year, up 10% against the same period.

Therefore, VASEP expected the increase will continue into this year, with tra fish and tuna being the main export earners. ASEAN was Vietnam’s third biggest importer of tuna last year.

Other seafood products exported to ASEAN were grilled fish paste and surimi, with combined revenue up nearly 18% year-on-year to more than US$78 million.

Data of the General Department of Customs showed Vietnamese white-leg shrimp was the only product facing competition from other ASEAN countries. So there are opportunities for local firms to step up exports of tra fish, tuna, grilled fish paste, and surimi to the ASEAN market with nearly 600 million consumers.

VOV