The Vietnam Agency of Foreign Trade anticipates that Vietnam’s seafood exports to China will recover from March 2023 due to higher demand and well-controlled Covid-19 pandemic.
According to the Vietnam Agency of Foreign Trade (under the Ministry of Industry and Trade), Vietnam achieved USD 102 million from exporting seafood to China, up 26% from February. Thus Vietnam’s seafood exports to this market reached USD 126.5 million, down 11% from the same period last year.
The Vietnam Agency of Foreign Trade anticipates that Vietnam’s seafood exports will recover from March 2023 due to higher demand.
At the Forum “Promote seafood, seafood products, and agricultural products between Vietnam and China (Guangxi)”, Tô Vạn Quang, Vice Chairman of Vietnam-China Business Association and representative of Dong Dang Industry Investment Ltd,. Co said that exports of seafood and agricultural products between Vietnam and China will go up from March 2023 when the Covid-19 is well controlled and the market is open. This company is promoting the establishment of a Center of Vietnamese transactions in Fangchenggang (Guangxi, China), which will quickly facilitate the penetration of a large quantity of Vietnamese seafood into China.
Even though China has opened their market, seafood exports to this country have to face difficulties in fiercely competing against other providers.
Besides, Vietnamese seafood going to China has to face lots of barriers such as unofficial exportation of fresh/live seafood and slow approval of registration of exported seafood products on the one-door trading portal office.
Trần Văn Út, Director of Vi Tuyen import and export Ltd., Co, said that the company has been exporting fresh/live seafood, mainly from ICD Thành Đạt port – Km3 + Km4, via Mong Cai – Dongxing border gate market, with the exporting papers being filled by border residents.
However, the company is facing difficulties in payment as such unofficial trade activity can not be paid through banks. Thus, a representative of Vi Tuyen company proposes MARD to give a specific solution and instruction to companies that are exporting products as border residents.
According to VASEP, China spends as much as USD 2 billion on importing fresh/live seafood; however, Vietnam has been providing just USD 322 million worth, accounting for 2% of the total export value.
VASEP proposes MARD to speed up the approval of papers for companies to export seafood to China and tackle difficulties in procedures, besides, MARD should propose China’s authorities to improve technology and digitization to deal with the situation.