Important seafood industry groups exported to Australia

DNHN - To ensure seafood exports to Australia, businesses need to pay attention to Australian standards and regulations, including standards on biosecurity and food safety.

According to information from VASEP, thanks to the advantages of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Australia is considered a potential market for Vietnamese seafood businesses. The good cooperative relationship and positive interest of the governments of the two countries have promoted trade activities, including seafood trade. In January 2024, seafood exports to Australia increased sharply by nearly 90% compared to the same period, reflecting the attractiveness of this market to Vietnamese businesses as well as the recovery of market demand for Vietnamese seafood.

The main products exported to the Australian market include shrimp, tra fish and some other types of marine fish. Of which, shrimp exports account for the majority with an export value of over 34 million USD in the first two months of the year, an increase of 20% over the same period. Tra fish exports also increased by nearly 70%, reaching over 6 million USD, while exports of other types of marine fish (excluding tuna) increased sharply by 72%.

Australia is currently the 5th largest seafood import market, accounting for 3.4% of Vietnam’s seafood export value. After the CPTPP Agreement took effect, Vietnam’s seafood exports to Australia have grown continuously. Although in 2023, exports to this market decreased to 312 million USD due to the general situation in the world, in terms of proportion and position, there has been a significant change in seafood trade between Vietnam and Australia.

The Vietnamese Trade Office in Australia has implemented many promotional activities, connecting with Australian partners to support businesses in connecting trade and developing the market in Australia. In the second quarter of 2024, the Trade Office will continue to implement trade promotion activities to take advantage of free trade agreements to promote exports to Australia.

However, to ensure seafood exports to Australia, businesses need to pay attention to Australian standards and regulations, including standards on biosecurity and food safety.

In a general assessment of the seafood export market, the Vietnam Association of Seafood Processors and Exporters (VASEP) said that Vietnamese businesses still face challenges such as oversupply, large inventories, low prices and competitive pressure, along with new issues such as the Red Sea conflict, the IUU yellow card and anti-subsidy taxes.

P.V