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Seafood exports see three-year record growth rate
Vietnam ’s seafood export turnover reached nearly 2.4 billion USD in the first seven months of this year, a year-on-year 20 percent increase and the highest growth rate in the past three years.
According to the Vietnam Association of Seafood Exporters and Processors (VASEP), frozen shrimp earned over 784 million USD, accounting for 32.8 percent of the total export turnover and tra and basa catfish fetched close to 763 million USD, or 31.9 percent.
While strengthening its foothold in major markets such as the US , the EU, Japan , the Republic of Korea , Vietnam ’s seafood sector has increased its market share in Russia .
In July only, the country’s seafood exports to Russia reached more than 38 million USD, a 64-fold increase from one year ago, bringing its seafood export turnover to the European partner in the first seven months of 2008 to over 123 million USD, soaring nearly 93 percent. Russia has become Vietnam ’s fifth largest seafood importer.
The seafood sector has also made a breakthrough in the Ukrainian market, doubling its earnings from this market in the seven-month period to 76 million USD.
With the current growth, Vietnam ’s target of earning 4.25 billion USD from seafood exports this year is within reach, said VASEP Vice Chairman Nguyen Huu Dung.
To ensure sufficient materials for seafood processing factories and fulfill the yearly export target, VASEP has recently asked the Ministry of Agriculture and Rural Development to increase imports of seafood materials.
The association said if the country imports between 1-2 billion USD worth of materials per year, it can increase its seafood export turnover by 1.8-3.5 billion USD, becoming the world’s second largest seafood exporter, after China.
VASEP has also suggested the government apply a seafood import tax of zero or 0.5 percent to facilitate export activities.
VNA
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