VASEP warns Vietnam could face EU yellow card

by VTV426 September 2017 Last updated at 22:33 PM

VTV.vn - The Vietnam Association of Seafood Exporters and Producers (VASEP) has urged the country’s seafood sector to step up its fight against illegal fishing, or risk receiving a yellow card warning from the EU.

It is concerned that a yellow card could cause EU retailers to become hesitant to sell products from Vietnam and seek alternatives. VASEP said its members were aware of the importance of the EU regulations on illegal, unreported and unregulated (IUU) fishing, and of their relevance for seafood businesses. They also admitted the fight against IUU would be a long-term process requiring the active and regular participation of seafood businesses.

VASEP members are calling for a management board to be set up for seafood businesses to fight against IUU fishing. Each year, total seafood exports from Vietnam bring in a revenue of 1.9 to 2.2 billion USD, 16 to 17% of which are derived from sales to the EU and US markets.

Tags:

Top VND Exchange Rates

Auto-refesh 15m

USD

EUR

AUD
1 VND
Inverse:
0.00004
22,510.0
0.00004
25,226.0
0.00006
15,674.0

Mid-market rates: 2024-11-23 08:10 UTC