Losses up to 518 million USD, if the European Commission fines Vietnamese fisheries with IUU red card

Published 2022년 9월 29일

Tridge summary

The Vietnam Association of Seafood Exporters and Producers (Vasep) has expressed concerns at a Ministry of Agriculture and Rural Development conference about the risk of illegal, unreported and unregulated fishing, following a decrease in seafood exports to the EU. From 2011 to 2021, Vietnam's seafood exports to the EU increased from $6 billion to nearly $9 billion, but exports have decreased for four consecutive years due to an IUU yellow card warning in 2017. The loss of the EU market due to an IUU red card in 2023 could result in a loss of $518 million and a reduction in the value of exports, employment and poverty reduction. The government's target of $16-18 billion in seafood exports by 2030 is at risk, and Vasep has urged the industry to innovate and develop to meet quality standards and maintain market incentives.

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Original content

The Vietnam Association of Seafood Exporters and Producers (Vasep) warned so at the Conference to discuss solutions to overcome shortcomings and limitations on combating illegal, unreported and unregulated fishing. , organized by the Ministry of Agriculture and Rural Development in Ho Chi Minh City, September 29. According to Vasep, from 2011 to 2021, Vietnam's seafood exports to the EU increased from $6 billion to nearly $9 billion. Of which, exports to the EU contribute 1 - 1.4 billion USD per year; accounting for 15-17% of seafood export turnover to markets. After the IUU yellow card warning from 2017, the export of caught fishery products has decreased continuously for 4 years. Specifically, a 6% reduction in the first year; 5% 2nd year; 10% 3rd year and 16% 4th year. Marine fish (tuna, swordfish, shark...) are most affected. The most affected markets include: Italy, Spain, Germany and France. In the period 2017 - 2019, seafood exports to the EU market decreased by 12%, ...

Source: Danviet