Catfish

By 2030, the domestic market for processed seafood would reach VND40-45 trillion ($1.75-1.97 billion), which would contribute to seafood exports of US$14-16 billion per year.

The latest Covid-19 outbreak in India, the world’s largest shrimp producer, has taken a toll on the recovery outlook of this country’s shrimp industry and created opportunities for others.

The fact that Vietnam is already a top trade partner with the EU despite not having an FTA in place highlights the opportunities that the EVFTA will create for Vietnamese seafood producers.

This is the second FTA that the EU has ever made with a Southeast Asian country, after Singapore.

Vietnam could take advantage of the Vietnamese communities living in these two countries to boost exports.