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If the EU market is lost, it is estimated that the Vietnamese aquaculture industry will lose approximately US$480 million each year
.
From the export volume terms, Vietnam is the fifth largest seafood export commodity, accounting for about 4 percent of Vietnam's total exports
.
In recent years, Vietnam’s annual aquatic product exports have been between 8.
5-9 billion U.
S.
dollars, of which aquaculture accounts for 60-65%, and aquatic fishing accounts for 35-40%
.
.
In recent years, Vietnam’s annual aquatic product exports have been between 8.
5-9 billion U.
S.
dollars, of which aquaculture accounts for 60-65%, and aquatic fishing accounts for 35-40%
.
As the world’s third largest exporter of aquatic products, Vietnam has paid attention to the sustainable development of the aquatic industry in recent years
.
However, due to the ineffectiveness, non-reporting and non-compliance (IUU) regulations in combating illegal fishing, Vietnam is being warned of a major challenge by the European Commission (EC) issued a "yellow card" in October 2017
.
.
However, due to the ineffectiveness, non-reporting and non-compliance (IUU) regulations in combating illegal fishing, Vietnam is being warned of a major challenge by the European Commission (EC) issued a "yellow card" in October 2017
.
The "yellow card" issued by the European Commission has caused Vietnam's exports of aquatic products to this market to continue to decline since 2017
.
From 2017 to 2019, two years after being affected by the IUU "yellow card", the export value of aquatic products to the EU market fell by 12%
.
.
From 2017 to 2019, two years after being affected by the IUU "yellow card", the export value of aquatic products to the EU market fell by 12%
.
This downward trend in exports will continue into 2020, especially due to the multiple impacts of the new crown epidemic, the IUU "yellow card" and Brexit.
The export of aquatic products to the EU market fell 5.
7% year-on-year to only US$959 million
.
The export of aquatic products to the EU market fell 5.
7% year-on-year to only US$959 million
.
Since 2019, the EU's ranking in the Vietnamese aquatic product export market has dropped from second to fourth, after the United States, Japan and China
.
Experts said that it is not only the decline in exports, but if the Vietnamese aquatic industry is fined a "red card" by the European Commission, Vietnamese aquatic products are at risk of losing the EU market
.
.
Experts said that it is not only the decline in exports, but if the Vietnamese aquatic industry is fined a "red card" by the European Commission, Vietnamese aquatic products are at risk of losing the EU market
.
