China was the second largest export market for Vietnamese tra fish with an annual turnover of over US$505 million (up 28.9 per cent), followed by the EU with US$231 million (up 19.1 per cent), and ASEAN with over US$194 million (up 43.1 per cent).
This year, the fisheries sector, particularly the tra fish industry, is forecast to face both advantages and disadvantages from a higher demand for tra fish throughout the global economy.
The impending Comprehensive and Progressive Agreement for Trans-Pacific Partnership and the EU-Vietnam Free Trade Agreement, is expected to add fresh impetus to the access of Vietnamese goods to foreign markets.
In addition, the unpredictable developments of the China-US trade war will present opportunities but also pose challenges for the nation’s exports.
To overcome difficulties and fulfill set targets, VASEP's major focus will be on producing high quality tra fish, expanding its network of export markets, promoting sustainable development, playing an active role in international integration, and speeding up administrative reforms.
In addition, the association will follow strict regulations regarding the rules of origin and resolve the EU’s ‘yellow card’ warning for illegal, unreported, and unregulated fishing whilst tightening control over seafood products in accordance with international practices.