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Unit 10 - Tr 2

Vietnam's seafood exports were estimated at USD 8.89 billion in 2021, facing challenges from the COVID-19 pandemic, rising costs, and competition from countries like Ecuador and India. Despite these difficulties, the industry is expected to grow in 2022 due to global economic recovery and increased import demand. Key strategies include enhancing competitiveness, improving breed quality, and effectively managing production and export processes.

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11 views2 pages

Unit 10 - Tr 2

Vietnam's seafood exports were estimated at USD 8.89 billion in 2021, facing challenges from the COVID-19 pandemic, rising costs, and competition from countries like Ecuador and India. Despite these difficulties, the industry is expected to grow in 2022 due to global economic recovery and increased import demand. Key strategies include enhancing competitiveness, improving breed quality, and effectively managing production and export processes.

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Tuệ Linh
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Unit 10 – Translation 2

Seafood/aquatic export estimates at USD 8.89 billion in 2021

Source: baochinhphu.vn, 24 December, 2021

Speaking/addressing at the conference, Mr. Nguyen Quang Hung, Deputy


Director of the General Department of Fisheries, said that in the past/last
year, if looking at the weather situation, it was relatively favorable for
aquaculture and fishing. However, the main difficulty was the complicated
development of the COVID-19 pandemic, impacting life and socio-economy,
disrupting global supply chains and directly affecting production, import and
export operations and aquatic products consumption.

Besides, the situation of drought and saltwater intrusion in the Mekong River
Delta (Mekong Delta) stayed complicated, influencing aquaculture. Food
prices, international shipping charges/freight , and fuel prices have risen to
record highs in recent years (in which oil prices have increased by more than
30% over the same period in 2020), greatly affecting Vietnamese seafood
production and import and export activities. The fact that the European
Commission continues to keep the "Yellow Card" warning for Vietnam's
exploited seafood causes many difficulties for Vietnamese seafood to enter
the European market.

However, the delegates also stated that the world economy's growth after
the implementation of vaccinations and the incentives of bilateral and
multilateral free trade agreements were favorable factors for the seafood
industry to maintain its growth rate in 2022.

Some said that the seafood industry and businesses should take advantage
of opportunities to boost exports when global import demand increased
again. To do this, it is necessary to enhance competitiveness, and to prevent
and control the COVID-19 epidemic effectively to maintain production.

Mr. Nguyen Hoai Nam, Deputy General Secretary of the Vietnam Association
of Seafood Exporters and Producers (VASEP), said that Vietnamese seafood
was competing with Ecuador and India. In the EU and US markets, the export
rate of competitors has reached 46%, continuing to create new competition
with Vietnamese seafood. In order to improve competitiveness, the
enterprise wishes to continue to promote investment in improving the quality
of breed. Through the Association's survey, the breed is the decisive factor to
the price and the survival rate of the breed also plays an important role in
key commodities in the seafood industry such as shrimp and pangasius.
As stated by Deputy Minister of Agriculture and Rural Development Phung
Duc Tien, the Strategy and Scheme for the fisheries sector had been issued.
In the implementation process, it is necessary to think systematically and act
decisively and synchronously to make changes in the organization of
production and export. Along with the synchronous and unified
implementation from the central to local levels to execute the provisions of
the Fisheries Law in 2017 and the tasks and solutions of the Fisheries
Development Strategy to 2030, with a vision to 2045, Deputy Minister Phung
Duc Tien stated that on/regarding/in terms of aquaculture, it was vital to
strengthen inspection and check to ensure the breed quality; and effectively
control the quota of exploited aquatic products.

Consolidation

1. According to data from the Import-Export Department (Ministry of Industry


and Trade), Vietnam's seafood exports to the EU market in the first six
months of the year reached about $485 million, up 20% over the same
period last year. This increase is much higher than the 14.4% increase in
seafood exports of the country.

2. Trade and promotion activities in major markets such as the US and


Europe are returning to normal. Vietnamese seafood enterprises can
participate in international seafood fairs to connect with and increase
customers.

3. General Director of Sao Ta Food Joint Stock Company - Pham Hoang Viet
said that the demand for seafood in the world market had increased, so the
company had increased production capacity, although domestic raw
materials are scarce.

4. A representative of the Import-Export Department said, for many years,


the EU had always been known as one of the leading /top seafood export
markets of Vietnam. However, Vietnam's seafood exports to the EU in recent
years have faced many difficulties, especially since October 2017.

5. The tension between Russia and Ukraine makes the global seafood supply
more unstable, especially white fish products. Vietnamese seafood
enterprises have seized golden opportunities to increase exports and close
contracts with much higher prices than in 2021.

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