Vietnam has high potential to become a new production hub of the world in the context of the current transition of the supply chain, said Dr. Ho Quoc Tuan, a senior lecturer at Bristol University in the UK.

Vietnam is integrating more and more deeply into the world. At the same time, Vietnam is a supply point in the global distribution chain of seafood, so there is no other way to strictly enforce the regulations of international organizations and capture fisheries needs to be sustainable.

Expectation is mounting that the U.K.'s bid to join a major Pacific trade bloc will soon be green-lit following Prime Minister Rishi Sunak's breakthrough post-Brexit pact with the EU.

As China continues to experience remarkable economic growth, its impact on international trade has become increasingly significant.

In its national socio-economic development, Vietnam has laid a priority on boosting economic cooperation via the diplomatic channel, in which expansion of exports and attraction of more investment is a must. To this end, the government has enacted a hallmark first-ever 5-year action programme guiding the deployment of economic diplomacy.

Amid Vietnamese tuna exports to major markets enduring a decline in January, exports of the product to the Republic of Korea have witnessed an impressive growth of 457% on-year, according to details given by the Vietnam Association of Seafood Exporters and Producers (VASEP).

Salangane nest exporters in Vietnam can earn $200-300 million a year. China has signed a protocol on full-tax export of the expensive salangane nests to its market.

The export volume of the 2022-23 crop is also forecast to decrease sharply compared to the previous crop due to little inventory from the 2021-2022 crop.

Vietnam’s shrimp exports face challenges with prices decreasing and competition from Ecuador and India intensifying, according to the Vietnam Association of Seafood Exporters.

It is critical to promote digitalisation in the traceability of farm produce as Việt Nam aims to build a transparent, multi-value integrated agriculture sector.