Turning point for seafood sector

In the first two months of 2025, Vietnam’s total seafood export value reached over US$1.42 billion, up 18.2 percent year-on-year. In February 2025, the export value hit US$655 million, marking an impressive growth of 42.6 percent. This is a positive sign for the seafood sector in 2025.

One of the key reasons behind the seafood industry’s successful exports in 2024 is that businesses have effectively utilized benefits of FTAs, especially new-generation ones, such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the EU-Vietnam Free Trade Agreement (EVFTA), and the Regional Comprehensive Economic Partnership (RCEP). These FTAs have helped Vietnam expand markets and export categories.

Nguyen Hoai Nam, Deputy Secretary-General of the Vietnam Association of Seafood Exporters and Producers (VASEP), noted that FTAs have provided many advantages and opportunities for seafood businesses.

In the first two months of 2025, Vietnam’s total seafood export value reached over US$1.42 billion, up 18.2 percent year-on-year

However, VASEP forecasts that in 2025, the seafood sector will face intense competition from major seafood-producing countries, such as India, Thailand, China, and Ecuador. In this context, experts emphasize that businesses and the sector must thoroughly understand and take full advantage of tariff incentives from FTAs, especially new-generation ones.

Dr. Phung Thi Van Kieu, Deputy Head of the Trade Research Department at the Vietnam Institute of Strategy and Policy for Industry and Trade under the Ministry of Industry and Trade, stated that utilizing tariff incentives and market expansion opportunities from new-generation FTAs could create a breakthrough for Vietnam’s seafood exports in 2025.

“New-generation FTAs not only provide tax benefits, but also require businesses to meet stricter standards regarding quality, environment, labor, and traceability. This necessitates an appropriate adaptation strategy for Vietnam’s seafood sector to enhance competitiveness and ensure sustainable development,” Dr. Phung Thi Van Kieu said.

Lifting IUU yellow card, urgent task

Along with market competition, one of the major barriers to Vietnam’s seafood exports is the European Commission’s (EC) ‘yellow card’ warning on seafood catches. This issue not only affects billion-dollar annual exports to the EU, but also impacts the global reputation of Vietnamese seafood.

From a business perspective, Nguyen Nam Vinh, Deputy General Director of Huy Nam Co., Ltd., stated that the EU’s continued yellow card warning on Vietnam’s seafood sector has hindered the entry of Vietnamese seafood into the EU market.

Additionally, the EU enforces strict regulations on food safety management, such as banning irradiation and chlorate-based disinfectants, whereas other markets still allow controlled residue levels.

In response to this challenge, the Ministry of Agriculture and Environment has reaffirmed its commitment to lifting the ‘yellow card,’ aiming to build a transparent and sustainable seafood sector. Vietnam seeks not only to remove the warning in 2025, but also to maintain this achievement in the long run. This is both an international responsibility and an opportunity to develop the marine economy, protect sovereignty, and improve fishermen’s livelihoods.

Meanwhile, the Ministry of Industry and Trade has been implementing various measures to support businesses and actively negotiating with trade partners to remove technical barriers, reduce tariffs, and expand export markets. Credit support programs, capacity-building training, product quality control, and food safety assurance have also been prioritized to create the most favorable conditions for seafood exporters.

Vu Ba Phu, Director of the Vietnam Trade Promotion Agency under the Ministry of Industry and Trade, recommended that businesses focus on investing in modern processing technology and establishing strict quality control systems to meet international standards and ensure clear traceability.

“Actively participating in international trade promotion programs, establishing connections with strategic partners, and adopting financial solutions and specialized training will help Vietnam’s seafood sector maintain and enhance its position in the global market,” he emphasized./.