VASEP warns Vietnam could face EU yellow card

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.