Seafood exports in 2024 will reach a record of 10 billion USD, maintaining the world's third largest seafood export position after China and Norway, with a market covering all 5 continents.

Ms. Nguyen Thi Thu Sac - President of the Vietnam Association of Seafood Exporters and Producers - said that in 2024, the country's seafood exports will reach the target of about 10 billion USD, an increase of about 12.7% compared to 2023, of which, some products have high export value such as: Shrimp is estimated at 4.0 billion USD (up 16.7%); Pangasius is estimated at 2.0 billion USD (up nearly 9.6%); Tuna is estimated at 1.0 billion USD (up 17%); Squid and octopus are estimated at over 600 million USD...

The above figures show that the seafood industry is on the right track in sustainable development and increasing the added value of products. Vietnamese seafood enterprises are gradually promoting the application of science and technology in the farming and processing process, not only improving productivity and product quality but also contributing to expanding export markets. These advances have affirmed the position of the Vietnamese seafood industry, enhancing its competitiveness in the international arena.

At the event celebrating seafood exports reaching 10 billion USD in 2024 held on the evening of December 23, Deputy Minister of Foreign Affairs Nguyen Minh Hang assessed that seafood is one of the key agricultural export sectors, with high competitiveness, leading in green transformation and sustainable development of Vietnam. However, there is still a lot of room for development because according to the Food and Agriculture Organization (FAO), the global seafood market is estimated to be nearly 180 billion USD and maintains a very positive growth rate. Therefore, we have every basis to set a further goal, not just 10 billion USD.

The urgent issue now is to turn desires and visions into specific plans and actions; turn ideas and initiatives into resources; turn cooperation commitments into specific results and products. Because of the current trend of developing a green and sustainable seafood industry in the world, Vietnam also needs to quickly adapt and transform to catch up with the opportunity.

The requirement is how to develop modern farming technology, reduce environmental impacts, protect marine ecosystems, apply biotechnology to improve aquatic breeds; diversify aquatic products, especially clean and organic aquatic products to penetrate high-end markets; and further promote digital transformation and e-commerce for agricultural products in general and aquatic products in particular. Mr. Phung Duc Tien - Deputy Minister of Agriculture and Rural Development - commented that 2025 will continue to pose new challenges for the aquatic products industry, in which, resolving the IUU yellow card, adapting to climate change, environmental pollution and market barriers will be important goals. But with the continuous efforts of enterprises, together with the support of VASEP and the Ministry of Agriculture and Rural Development, along with determination and creativity, the Vietnamese seafood industry will surpass the 10 billion USD mark in 2025, and move towards the target of 11 billion USD, in the context of improved raw material sources and expanded export markets.

In particular, improving product quality and improving the reputation of enterprises will help us increase market share, affirming the position of Vietnamese seafood in the international market....

In order to achieve the above goal, Deputy Minister Phung Duc Tien also suggested that it is necessary to strengthen cooperation and solidarity among enterprises in accessing, maintaining and expanding, diversifying markets, complying with the regulations of Vietnam and import markets. To continue expanding the seafood export market, in addition to the markets of China, the US, Japan, the EU... it is necessary to focus on developing the export of seafood products to Halal and Middle Eastern markets...

Promote linkages between units participating in the production chain to improve quality, ensure traceability, and continue to increase the proportion of value-added export items. Timely notify relevant ministries and branches of difficulties in the export process for timely handling measures; continue to proactively propose amendments and improvements to policies to create maximum conditions for production and export activities while still ensuring management requirements and sustainable growth.

Source: Cong Thuong Newspaper