The Middle East, including Egypt, is a potential export market for Vietnamese pangasius; however, the export situation to this market is still facing many ups and downs. Egypt is one of the leading destinations for pangasius exporting enterprises in this region. Many similarities in economic strengths between Vietnam and Egypt can be fully promoted to increase trade between the two countries, including pangasius exports.

The Middle East, including Egypt, is a potential export market for Vietnamese pangasius; however, the export situation to this market is still facing many ups and downs. Egypt is one of the leading destinations for pangasius exporting enterprises in this region. Many similarities in economic strengths between Vietnam and Egypt can be fully promoted to increase trade between the two countries, including pangasius exports.

According to Vietnam Customs, Vietnam's pangasius exports to Egypt in the first half of November 2024 reached more than 900 thousand USD, down 61% compared to the same period in 2023. As of November 15, 2024, the cumulative pangasius exports to this market reached more than 29 million USD, down 9% compared to the same period last year.

Unlike many markets that are customers of Vietnamese pangasius, Egypt does not consume VAT pangasius, or other dried and frozen pangasius products, this country almost only imports frozen pangasius fillets. Therefore, the export value of HS code 0304 products to Egypt is equivalent to the export turnover of Vietnamese pangasius to this market.

The first ten months of 2024 recorded 30 enterprises exporting pangasius to Egypt. Of which, Dai Thanh Company Limited is the largest exporter, accounting for 21% of the total value of Vietnamese pangasius exported to Egypt; followed by I.D.I Corp accounting for 10%, Go Dang accounting for 8.7%, Cuu Long An Giang accounting for 8.6%, Tran Han accounting for 7%,...

Egypt has 90% of its population following Islam, so seafood has become a traditional vegetarian dish here. However, domestic supplies from large lakes, the Nile River, and farms still cannot meet the needs and varieties of the people in the country, so Egypt is forced to import seafood, including frozen pangasius fillets from Vietnam. Consumers in this Middle Eastern country often use affordable products and Vietnamese pangasius meets this demand. Vietnamese pangasius often accounts for the largest proportion in the structure of Vietnamese seafood products in this populous country. Vietnamese pangasius is present throughout Egypt, not only in large and small supermarkets, wholesale markets, but also in famous restaurants and hotels.

More than a year has passed since the tension in the Middle East region broke out, and pangasius exports to Egypt have been more or less affected by the fierce fighting. However, to date, comprehensive cooperation between Egypt and Vietnam has been continuously developing. Last October, Vietnam and Egypt agreed to consider negotiating agreements and arrangements to create a legal framework for bilateral trade relations. The two economies are highly complementary and have much potential to exploit; they agreed to discuss the possibility of establishing bilateral trade cooperation frameworks, thereby contributing to increasing trade turnover in the coming time.

Vietnam and Egypt have many strengths that complement each other for mutual development. Both are large markets with more than 100 million people, have important geostrategic positions on the world map and can support each other to penetrate larger regional markets. With a prime location at the intersection of three continents: Asia, Europe and Africa, and being a member of the African Continental Free Trade Agreement (AfCFTA), Egypt can support Vietnamese goods and services to effectively access these large markets, not only to Egypt but also to Middle Eastern countries in the region.

In addition to enhancing reputation, ensuring food safety and hygiene, stabilizing product prices to penetrate deeper into this potential market, promoting communication and enhancing the image of Vietnamese pangasius on Egyptian media is also an important way to promote exports to this "black continent".

Source: VASEP