The potential of Vietnam and Indonesia to cooperate in the fishery industry is high since both countries have their own advantages in the sector, said Tran Dinh Luan, head of the Directorate for Fisheries of Vietnam.

Customers at a booth at the Vietnam Fisheries International
Exhibition 2019 (Vietfish 2019) - PHOTO: LE HOANG

At a forum on the potential for cooperation between Vietnam and Indonesia, being held as part of the Vietnam Fisheries International Exhibition 2019 (Vietfish 2019), Luan said this is the first forum on cooperation in the sector between the two countries, which is expected to enhance the strengths of enterprises in both countries and help Vietnamese seafood processors to produce high-quality products for export.

In the coming periods, the two sides will jointly hold additional forums to assist businesses to increase trade and learn from each other’s experiences in developing fishery resources.

At the forum, Jaya Wijaya from the Indonesian Ministry of Maritime Affairs and Fisheries reviewed Indonesia’s policies on promoting investment and tax reductions, as well as opportunities in the fishery sector between the two countries.

Nguyen Thi Thu Sac, vice chairwoman of the Vietnam Association of Seafood Exporters and Producers (VASEP), said Indonesia had advantages in the development of their fishery industry, while Vietnamese businesses in the sector are lacking materials for production.

According to Ibnu Hadi, Indonesian Ambassador to Vietnam, Indonesia’s seafood exports to Vietnam are on the rise. In July, Indonesia shipped more than US$55 million worth of seafood products to Vietnam, while Vietnam’s seafood exports to Indonesia were only some US$1.6 million.

Therefore, VASEP proposed that Indonesia create regulations to ensure easier access for Vietnam's dried seafood exports to its market, and assist Vietnamese firms seeking to import seafood materials.

Introducing Vietnam’s potential to develop the fishery sector, VASEP vice chairwoman Sac said the volume of exploited seafood in Vietnam has been growing at a rate of 5% annually. Last year, the country’s seafood export value reached over US$9 billion.

In addition, the Government has devoted much attention to the industry’s development. Free trade agreements that Vietnam has participated in have also created favorable conditions for local enterprises to improve their products’ quality and offer them multiple incentives.

Vietfish 2019, held in HCMC from August 29 to 31, features more than 370 booths with 233 exhibitors from 15 countries and territories.