According to Ms. Tran Thi Van Loan, Chairwoman of the Board of Directors of Cuu Long An Giang Aquatic Products Company, despite being one of Vietnam's top two markets for tra fish imports, tra fish exports to the United States are still hampered by the anti-dumping lawsuit. As a result, only a limit ed number of firms may export to this market, which is detrimental to Vietnam's tra fish.

“It is worth mentioning that by 2023, tra fish will have been subject to anti-dumping duties in the United States for 20 years, as the US has not completely recognized Vietnam as a market economy. As a result, I would like to propose that the government and relevant authorities take an interest in resolving this issue and gradually transforming the US market into a market comparable to other regular markets in order to avoid anti-dumping penalties”, said Ms. Loan

In addition to the difficulties in the US market, the global dynamics such as the Covid-19 pandemic, wars, and global inflation have further caused fluctuations in Vietnam's tra fish exports in recent times.

In Q1/2023, tra fish exports have decreased by 35% compared to the same period last year due to the challenges in the consumer market. China has currently surpassed the United States to become the largest tra fish importing market in the world. Although it has fully opened its doors, there are no signs of strong recovery yet.

"China is an extremely demanding market, with different ways of using tra fish compared to other markets. Through the culinary traditions of the Chinese people, tra fish is prepared into hundreds of dishes, served in upscale restaurants as a premium delicacy. Therefore, they have high and consistent quality requirements," emphasized the Chairwoman of Cuu Long An Giang Aquatic Products Company.

Ms. Loan also mentioned that there are currently two forms of export to China. Typically, large companies import through official channels and demand high-quality products, while smaller companies import through unofficial channels with less strict quality requirements.

"With China, it is necessary to develop a specific strategy for tra fish exports. This means controlling the consistent export quality and maintaining the image of tra fish. With a population of 1.4 billion, there is still a lot of potential for development and many opportunities for us to expand the market and increase export turnover to the Chinese market," recommended the Chairwoman of Cuu Long An Giang Aquatic Products Company.

Regarding the EU market, Ms. Loan shared, "The EU used to be the largest market for Vietnam's tra fish imports, accounting for 40% of the export turnover of the tra fish industry. However, due to unhealthy competition, price reduction, and decreased quality, the image of Vietnamese tra fish has been tarnished, resulting in a significant decline in market share. Currently, exports to the EU only account for over 8% of Vietnam's tra fish export value."

The EU remains a market with influence and dominance worldwide. Therefore, Ms. Loan suggested that the Government and the Ministry of Agriculture and Rural Development, as well as the Ministry of Industry and Trade, pay attention to building the brand and image of Vietnamese tra fish in the EU market.

It is worth noting that currently, tra fish, like other industries, faces high input costs and tight credit and high interest rates, making it difficult for businesses to obtain capital. They have to sell products at low prices to rotate capital, making it increasingly challenging for enterprises.

Therefore, Ms. Loan proposed that the relevant ministries and the government show special attention to removing barriers, facilitating priority capital for production, and reducing interest rates to support businesses.

In addition, businesses greatly need prompt support measures from the Prime Minister, such as reducing land rent and electricity prices. They sincerely hope that the Prime Minister and the ministries can timely resolve the difficulties for businesses, avoiding a situation similar to the crisis in 2008-2009 when many tra fish enterprises faced bankruptcy and collapse.