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Subscribe to
The Saigon Times

Saigon Times Group is a leading Vietnamese media organization with prestigious business and consumer publications. After three decades of development, we have built a good reputation through our publications on economy, business and markets for Vietnamese and foreign readers.

Basic

Free

  • Free access to daily domestic news, podcasts and videos

Premium

$5 $1 /month
(VND 23,900)
Monthly Annual

  • Unlimited access to domestic news, podcasts, videos and magazine articles on current social / economic / trade / investment issues, commodity / financial/securities markets, M&A activity, FDI, local and foreign business communities and more.

AUTOMATIC RENEWAL REMINDER

  • Your payment method will then be automatically charged ₫ 899.000 every 365 days thereafter.
  • Your subscription will continue until you cancel.
  • You can cancel by using My account. Under My account, select "Unsubscribe" and then follow the instructions to cancel.
  • You can notify us of your intent to cancel at any time during your billing period. Cancellations take effect at the end of your current billing period.
28.9 C
Ho Chi Minh City
Tuesday, April 1, 2025

Vietnam’s shrimp exports to Australia double in five years

By Thanh Tin

Must read

HCMC – Vietnam’s shrimp exports to Australia have doubled since the nation became a member of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) five years ago.

Vietnam now secures a shrimp market share of a staggering 70% in Australia, up from the pre-CPTPP market share of 32%.

The Vietnamese seafood industry has capitalized on the trade advantages from the CPTPP. Vietnamese seafood has also gained higher market share in other CPTPP member economies.

In Canada, Vietnam’s seafood market share has risen from 7-8% to a solid 10%, according to the Vietnam Association of Seafood Exporters and Producers (VASEP). Shrimp exports to this country have picked up from 18% to 25%, securing the top position.

While the success story continues, VASEP has highlighted the challenges posed by domestic market competition from CPTPP member economies such as Japan, Chile and Australia.

Logistical hurdles have impacted competitiveness. Vietnam’s seafood export sector heavily relies on foreign logistics systems, rendering it vulnerable in times of instability, as witnessed in the recent Red Sea tension.

The ongoing Red Sea tension underscores deeper issues within Vietnam’s logistics industry, where foreign shipping companies wield significant control over pricing and escalating freight rates, according to VASEP.

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