Vietnam is currently one of the world’s top 3 seafood exporters, with a wide variety of high-quality products. The Vietnam-EFTA Free Trade Agreement (VEFTA) is expected to open up new opportunities for the industry.
Switzerland is a particularly promising market for Vietnamese businesses, with Vietnam’s sustainably farmed shrimp already an established presence there. Meanwhile, Norway and Iceland’s well-developed seafood industries offer high-quality raw materials and advanced fishing and processing technologies. Export opportunities, raw material supply, technology transfer, and processing capacity all hold considerable potential.
Le Hang, Deputy Secretary-General and Communications Director of the Vietnam Association of Seafood Exporters and Producers (VASEP), said: "We should view this agreement as an opportunity to expand and diversify raw material supplies for seafood processing and exports. By making effective use of the favorable conditions under VEFTA, Vietnamese businesses could increase imports of raw materials from Norway and Iceland and process them in Vietnam for export to other markets. This would benefit both sides. Norwegian and Icelandic businesses would gain additional outlets for their raw materials and new processing partners, while Vietnam would secure more stable, diverse, and high-quality supplies to support production."
VEFTA offers a timely opportunity for Vietnam’s seafood industry as major export markets impose technical, tariff, and non-tariff barriers, and policy changes create uncertainty for exporters.
VASEP says businesses should develop market-specific strategies built around distinctive products rather than competing primarily on price. This approach would not only increase export value but also encourage responsible aquaculture practices in line with the industry’s sustainable development goals.
Ms. Hang said: "Vietnam should seize opportunities for cooperation to gain access to advanced technologies, equipment, and management practices. These include selective fishing methods to reduce unwanted catches, onboard preservation systems, electronic traceability systems, and fuel-efficient equipment. And we need to shift our focus from increasing catch volumes to improving the per-unit economic returns of harvested resources."
In the coming period, VASEP will step up business networking and trade promotion through seafood fairs and forums. The Association will work to connect Vietnamese companies with raw material suppliers in Norway and Iceland, as well as technology organizations in Europe.
