Consulate General of Vietnam in Shanghai coordinated with the Vietnam Trade Promotion Agency under the Ministry of Industry and Trade to organize the "Online trade conference between Vietnamese seafood enterprises and RCEP markets in 2022." The conference was held on May 30 - 31 with the participation of many businesses from Vietnam and Shanghai, China.

The event aims to support localities and businesses in the field of seafood supply in Vietnam to strengthen their search for partners, business connections, and export market expansion.

In his remark, Le Hoang Tai, Deputy Director of the Vietnam Trade Promotion Agency said Vietnam was exporting seafood to more than 160 markets around the world, of which RCEP member countries account for over 63% of the market share. Exports to important markets, such as ASEAN countries, China, Japan, and South Korea, all have seen positive growth.

Particularly, in the first five months of 2022, Vietnam's seafood export turnover reached around US$ 4.5 billion, witnessing a more than 44.5% increase over the same period last year. Pangasius and shrimp alone reached roughly US$ 2.8 billion. These achievements affirm the position of Vietnam's seafood industry as one of the competitive fields that can penetrate more strongly into the markets of RCEP member countries.

Photo: Consulate General of Vietnam in Shanghai

Chu Vinh Hung, Chairman of the Board of Directors of Shanghai Huashen Group, an agricultural, aquatic products and related services importer, emphasized the importance of cooperation and trade between China and Vietnam, as the two countries account for 50% of global aquaculture and make up a huge market of 1.5 billion people.

In 2021, Vietnam's agricultural, forestry and fishery exports will reach USD 47 billion. China is Vietnam's largest export market in agricultural products. To be specific, Vietnam's seafood exports to China in the first four months of 2022 reached US$578 million, 94% higher than the same period last year.

Trade conferences open up good opportunities for businesses of Vietnam, China, and RCEP member countries to promote their products, cooperation, and deep participation in regional supply chains.

According to Chu Vinh Hung, Shanghai has a Free Trade Zone with a high degree of liberalization and facilitation, which is an advantage, is building the first national pilot zone on the quality and safety of imported agricultural and aquatic products. The city is also working to establish a digital ecological foundation for the food industry supply chain. Therefore, when compared to border trade routes, the city will be a more beneficial gateway for Vietnamese enterprises to increase the introduction of agricultural, aquatic, and seafood products into Chinese inland and eastern provinces.

Huashen Group is willing to continue to coordinate with the Consulate General of Vietnam in Shanghai, and Vietnamese government agencies to support and provide related services for Vietnamese businesses.

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