Seafood export to Egypt surges 300 percent: trade official

Seafood export to Egypt surges 300 percent: trade official

Vietnam’s export of seafood products to Egypt got a tremendous boost last year as local businesses enjoyed zero import tariffs in the African market, an official of the Vietnam Trade Office in Egypt said on Friday.

The official said seafood exports grew by over 300 percent year-on-year to US$63 million in 2008, with pangasius or basa catfish accounting for 87 percent of the total. Egypt imported 26,000 tons of pangasius worth $55 million last year and $4.4 million worth of other seafood products from Vietnam in 2006. Egyptian demand for seafood products was increasing due to its growing population that was about 80 million people in 2007, roughly equal to that of Vietnam, and a shortage of local supply. The official, however, warned local producers of quality concerns as they try to boost seafood exports to the new market, saying some shipments with high water-content were reported to be from Vietnam. Vietnam’s fisheries industry earned about $4.6 billion in exports last year, a 21 percent increase over the previous year, according to the General Statistic Office. With the economic downturn showing no sign of letting up, the Vietnam Association of Seafood Exporters and Producers has said seafood exports would drop 30 percent this year. Reported by Minh Quang