Certificates of origin is a must for Vietnamese seafood exported to the EU, Siegfried Bank, an expert from the European Trade Policy and Investment Support Project (EU-MUTRAP), affirmed at a conference concerning the issue held in Ho Chi Minh City on October 7.
Looking at the growth of Vietnam’s aquaculture in recent years, Bank noted the sector had low export volume but reeled in good revenue, ranking fourth worldwide.
He stated the fact proved that Vietnamese seafood products have high added value, which Vietnamese businesses should consider as their strength and continue to go this way in the future.
Comparing the Chinese and EU markets, Bank said China ’s market requires little conditions but only pays about half the prices that importers from the EU are willing to pay.
Higher prices mean more conditions, he added, saying choosing the more demanding market is likely to pay off in the long term.
Cao Le Quyen, Deputy Head of the Vietnam Institute of Fisheries Economics and Planning, highlighted that EU is among important markets for Vietnam’s seafood in recent years and is projected to continue to hold this position for years to come.
The EU is now the second biggest importer of Vietnamese seafood, accounting for 18 percent of the total export revenue earned by the sector. In 2015, Vietnam shipped 1.2 billion USD worth of fishery products to the bloc, 46 percent of which were shrimp.