UK seafood to make a mark in Vietnam

UK seafood to make a mark in Vietnam

The UK seafood industry celebrated a breakthrough on April 1 as Vietnam granted market access for live seafood products, opening new opportunities for growth and trade.

British seafood is known globally for its taste, quality, and rich heritage, and Vietnamese consumers will now have access to premium seafood products in their preferred live form sourced from the UK’s vibrant and vast coastline, including popular varieties such as lobster and brown crab.

These additions will enrich culinary options for Vietnamese consumers, who eat approximately 37kg of seafood per person each year, allowing them to experience the distinctive flavours and exceptional quality that have made British seafood renowned worldwide.

British seafood exports to Vietnam have already shown strong growth, with fresh, frozen, and processed products seeing a 40 per cent increase in the first nine months of 2024 compared to 2023.

In line with the government’s priority of delivering economic growth and putting more money into working people’s pockets, this breakthrough creates new export opportunities that coastal communities across the length and breadth of the UK have pushed for in recent years. Unlocking the Vietnamese live seafood market will boost local economies and support jobs across Britain’s shorelines, contributing to nationwide economic growth.

Minister for Food and Rural Affairs Daniel Zeichner said, "This is a tremendous win for our seafood industry. By securing access to Vietnam’s thriving live seafood market, we’re opening new opportunities for British businesses while supporting jobs across the UK. Our high-quality seafood is increasingly sought after worldwide, and this agreement demonstrates our commitment to get British exports moving by helping producers reach valuable international markets."

Minister for Exports Gareth Thomas said, "This is a welcome and significant milestone, opening up a new and lucrative market to live seafood exporters across the UK. We know that when businesses export, the whole economy benefits. That is why this government will continue to support businesses by removing trade barriers and enable them to take advantage of export opportunities to grow the economy at home."

Access to the Vietnamese market is estimated to generate around £20 million ($25.8 million) for the UK seafood industry over the next five years, according to the Shellfish Association of Great Britain (SAGB).

David Jarrad, CEO of SAGB, said, "We have been delighted to engage with government officials in the UK and Vietnam and help achieve this export agreement. The opening of another market for our sector is great news for the industry and demonstrates the strong worldwide demand for the UK's quality live shellfish."

Vietnamese importers are willing to pay competitive prices for British seafood varieties that have less demand in the UK and European markets, providing an important alternative revenue stream for dozens of seafood traders.

VIR