Sunday, January 17, 2021 4:50:18 AM - Markets closed
VN-INDEX 1,194.20 +6.80/+0.57%
HNX-INDEX 225.47 +3.20/+1.44%
UPCOM-INDEX 78.64 +0.88/+1.13%
Việt Nam needs solutions promoting sustainable seafood exports to the EU: experts
Vietnam News - 11/18/2020 1:33:10 PM
 (0 ratings. You must sign in to rate.)
Việt Nam 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.
The country gained US$183.4 million in seafood export value to the EU in two months after the EU-Việt Nam Free Trade Agreement (EVFTA) came into force, said Phan Thị Thu Hiền, lecturer and expert on EU market from the Foreign Trade University.
“The EUTR1 certificate of origin (C/O) applications of exported seafood accounted for nearly 80 per cent of total C/O applications, ranking second in the top export commodities,” Hiền said.
Vietnamese exporters have had good compliance with the rules of origin to utilise the EVFTA, she said.
Meanwhile, the Ministry of Industry and Trade (MoIT) has also supported Vietnamese firms in complying and successfully applying the preferential EUTR1 C/O, including introduction and communications about the EVFTA and its rules of origin, training and consultancy, help desks, and manual and e-guidance publications.
The EU is one of the biggest export markets of Việt Nam’s fish and fish products with a value of US$1.3 billion in 2019, accounting for 15.1 per cent of the total seafood export value of Việt Nam.
However, Việt Nam’s seafood products exported to the EU are mainly semi-processed products, according to the Việt Nam Institute of Economics and Fisheries Planning.
In addition, the EU is a large market with many import orders while Việt Nam has not developed production and processing chains so it has missed many chances of exporting seafood to the EU.
To have efficient and sustainable seafood exports to the EU, the Government and competent authorities need to have training programmes and public-private dialogues about IUU and the EVFTA, Hiền said. 
They need to modernise and standardise documentation and fishery statistics, she said. They should also apply information technology (IT)-driven risk management and control and develop IT infrastructure, applications and platforms.
For local farmers and export processing firms, she said, they should know about fundamental principles of the EU’s IUU regulations, preventing violations. Those could ensure efficient seafood exports to the EU market.
They should also actively participate in training courses about IUU and the EVFTA. 
Bách Văn Hạnh from the Directorate of Fisheries under the Ministry of Agriculture and Rural Development (MARD) said the directorate has enhanced control for imported raw materials of seafood to meet requirements on product origin.
It has improved existing processes to ensure traceability in processing plants and monitor certified materials for processing in factories, he said.
Besides that, Việt Nam should solve problems relating to residue levels of banned substances in export seafood products, said Đào Trọng Hiếu from the MARD’s Agricultural Product Processing and Market Development Department.
It needs to complete standards and regulations for Việt Nam's seafood products, meeting the EU market regulations, he said.
Việt Nam should also take full tax incentives from the EVFTA to promote seafood exports to the EU.
If Việt Nam removes the yellow card warning about implementing the IUU regulations and take full tariff incentives under the EVFTA, its seafood exports to the EU in the next five years are expected to reach between $1.2-1.5 billion each year, Hiếu said. — VNS
Read original article here
Newer News
15/01 Vietnam always a leading partner of Netherlands in Asia
13/01 Difficult year ahead for leather-footwear sector: experts
13/01 Two more Vietnamese dairy producers licensed to export to China
12/01 Vietnam prepares best conditions to spur economic growth: forum
08/01 FDI enterprises increase but more losses reported
07/01 HCM City's retail market grows by 11.9 percent despite pandemic
05/01 Gov’t issues Resolution on 2021 socio-economic development
05/01 HCM City targets higher exports by key earners in 2021
28/12 Trade surplus posts record high since 2016
22/12 Wood exports to hit 12.5 billion USD in 2020
Older News
16/11 ASEAN Plus Three countries promote inter-bank cooperation
11/11 Innovation should be stepped up to achieve high economic growth: experts
04/11 Growth target of 6 percent for 2021 is feasible: legislator
22/10 Economic growth likely to hit 2.6-2.8%
06/10 Hanoi a bright spot in FDI attraction
02/10 Canada affirms strong trade ties with Vietnam
30/09 September CPI up 0.12 percent
23/09 EVFTA brings new impetus for Vietnam’s fishery exports
21/09 Vietnam’s GDP to grow 2-3 percent this year: former GSO director
14/09 Construction steel sales projected to recover in year-end months
Newsletter Signup
Top Stories
Number of new securities trading accounts reaches record high
Trade surplus posts record high since 2016
Reference exchange rate up 1 VND on June 5
Reference exchange rate up 6 VND on December 10
Reference exchange rate continue going down
Market Update
Last updated at 3:20:02 PM
VN-INDEX 1,194.20 +6.80/+0.57%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.