Wednesday, November 21, 2018 10:34:52 AM - Markets open
VN-INDEX 911.61 -7.41/-0.81%
HNX-INDEX 103.28 -0.63/-0.60%
UPCOM-INDEX 51.66 -0.40/-0.76%
EC’s yellow card warning – big chance for fisheries sector’s restructuring
Thanhnien.vn - 6/27/2018 10:02:27 AM
 (0 ratings. You must sign in to rate.)
Although the European Commission (EC)’s issuance of a yellow card warning has caused certain difficulties for fisheries businesses and fishermen of Vietnam, many experts said this is a chance for the country to restructure its fisheries sector.
 
Vietnam was given a yellow card warning by the EC in September, 2017 for failing to progress in fighting illegal, unreported and unregulated (IUU) fishing. It was offered an opportunity to rectify the situation within six months. 
 
An EC delegation visited Vietnam in May, 2018 to inspect the outcomes of measures to control IUU fishing. The "yellow card" is followed by a "green card" if the problem is resolved or a "red card" if it isn’t. A “red card” can lead to a trade ban on fishery products.
 
Nguyen Thi Thu Sac, head of the steering board for illegal fishing prevention of the Vietnam Association of Seafood Exporters and Producers (VASEP), said it is more difficult to manage aquatic materials caught in the nature compared to aquacultural products. 
 
However, the anti-IUU fishing regulations have created not only challenges but also a turning point for the whole fishing industry to restructure itself in a systematic manner and catch up with the world’s common development trend.
 
She added that these regulations will help develop a more civilised and progressive fishing practice among fishermen. Meanwhile, seafood processors and exporters will be more careful about the origin of seafood materials so as to meet strict requirements of importers.
 
Nguyen Xuan Nam, Chairman of the Hai Vuong Co. Ltd in the central province of Khanh Hoa, said seriously complying with Europe’s requirements is a major chance to assert the prestige of Vietnamese seafood in this market as well as in the world.
 
Once Vietnamese seafood products meet standards and enter Europe in a legal manner, there will be huge opportunities for the country’s seafood processing and exporting sector to expand its market to other destinations.
 
With efforts by the Government, businesses and localities with fishing activities over the past six months, Vietnam has been carrying out the nine anti-IUU fishing recommendations given by the EC.
 
VASEP Secretary General Truong Dinh Hoe said his association has coordinated with enterprises and localities to raise fishermen’s awareness of keeping fishing and seafood purchase records. VASEP has also asked the Government to support fishermen more strongly in terms of infrastructure, equipment and technology to meet requirements for fishing activities and the seafood sector’s sustainability.
 
Minister of Agriculture and Rural Development Nguyen Xuan Cuong said localities need to review fishing boat monitoring systems and licences of fishing and seafood purchasing vessels.
 
The fishing industry needs to make stronger efforts and more drastic actions to soon build a responsible fisheries sector with sustainable development and integration, he added.-VNA
 
Read original article here
Newer News
12/11 PM urges banks to aid key economic sectors Read more at http://vietnamnews.vn/economy/469821/pm-urges-banks-to-aid-key-economic-sectors.html#y0AdCScWHhUl1V8e.99
23/10 Ha Noi focuses on e-commerce
31/08 Vietnam, China to open new border gate pair
17/08 Cement exports record strong growth
15/08 Vietnamese steel sector amidst US-China trade war
14/08 Rubber industry faces falling export price
14/08 US’s DoC levies anti-subsidy tax on Vietnamese laminated woven sacks
08/08 US initiates anti-dumping investigation into VN’s cold rolled steel
06/08 Agro-forestry-fishery exports grow 7.8 percent in 7 months
04/08 Vietnam works hard to have “yellow card” warning removed
Older News
25/06 Forestry exports estimated at 4.15 billion USD
20/06 Made-in-Vietnam tyres present in 128 markets
19/06 Garment-textile sector seeks to optimise opportunities from CPTPP
15/06 Seafood exports to China surge
15/06 TV market heats up for World Cup
12/06 28.49% anti-dumping duties levied on Vietnamese steel sheets
11/06 CPTPP lends momentum to Canadian investment
09/06 Measures sought to facilitate Vietnam’s shrimp export to US
06/06 Rubber exports see robust growth in May
05/06 US to crack down on illegal shrimp imports
 
Newsletter Signup
Top Stories
VN Index to rise amid volatility, weak liquidity
VN stocks continue rallying
VN manufacturing PMI hits 22-month high in March
CPI goes up 4.96 percent year-on-year in first quarter
Slight rise in February CPI
Market Update
Last updated at 10:46:54 AM
VN-INDEX 911.61 -7.41/-0.81%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.