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Vietnam's seafood exports set to grow 6.3 percent

Staff writer ▼ | April 27, 2016
New free trade deals with EU and Asian markets are expected to increase Vietnam’s seafood exports to more than $7 billion in 2016.
Vietnam seafood
Food trade   Benefits from free trade pacts
Truong Dinh Hoe, general secretary of Vietnam Association of Seafood Exporters and Processors, said at a recent meeting in the Mekong Delta’s Can Tho that exports in 2016 are expected to grow 6.3 percent from the previous year.

Half of the revenue will come from shrimp exports, which are poised to increase around 12 percent, Hoe said, as cited by the Saigon Times Online.

Benefits from free trade pacts with EU, Japan, South Korea and ASEAN neighbors will help Vietnam weather the tough competition from Ecuador, India, Indonesia and Thailand, he said.

Tuna exports are also expected to rise 8 percent from last year, and squid and octopus shipments 10 percent.