This will help businesses reduce their dependence on their main markets. Currently, the US, Japan, and China are the three main export markets for Vietnamese seafood.
The Chinese market, in particular, has the highest growth rate and is also the largest importer of pangasius and possibly shrimp in the near future. Vietnam has exported products to nine countries in ASEAN.
Since the establishment of the ASEAN Economic Community (AEC) which creates a common market for the region with the same preferential tax rates, it has created opportunities for Vietnamese seafood exporters to increase exports to ASEAN.
