According to statistics of Vietnam Customs, by the end of June 2023, Vietnam's pangasius exports to China and the US reached 281 million USD, down 34% compared to the same period last year.

Trade experts believe India, which imports over $8 billion of the listed products, could be dragged to the WTO for the restriction.

The UAE imports around 250,000 tons of seafood/year, worth 750-800 million USD. The top 4 suppliers are India, Thailand, Norway, and Vietnam, with India holding a dominant market share of 20%-24%, primarily in frozen shrimp. Vietnam's share is 6%-9%, mainly in frozen pangasius fillets.

Vietnam has established itself as a bright spot in the global economy, an achievement that received substantial contributions from the agriculture sector.

The Ministry of Agriculture and Rural Development (MARD) has asked localities to take strong measures to fight against illegal, unreported, and unregulated (IUU) fishing and prepare for the visit by the European Commission’s inspection team in October to assess Vietnam’s progress in combating IUU fishing.

Local media have reported that some businesses are at risk of losing shipments of peppercorn, cinnamon, star anise, and cashew nuts to UAE due to trade fraud allegations.

Phạm Thị Ngọc Thủy, Director of the Office of the Research and Development Department of the Private Economy described the diversification of export markets as a matter of survival for businesses in the current context.

Since the EU-Vietnam Free Trade Agreement (EVFTA) took effect in August 2020, most commitments in the agreement have been implemented and left positive impacts on business activities, especially trade, said Do Viet Ha of the Trade Office of the Vietnamese Embassy in Germany.