Due to geopolitical and economic fluctuations, global trade is entering a period of profound restructuring to adapt to new challenges.
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| Seafood processing for export at the factory of Kien Cuong Seafood Processing and Export Joint Stock Company, An Giang province. (Photo by Phu Cuong) |
In addition, increasing technical barriers, higher demands for quality standards, traceability, and social responsibility also pose many new challenges to Vietnam's import and export activities in the coming period.
Amidst the complex global trade landscape, the Ministry of Industry and Trade is determined to maintain its export growth target of 15-16%, while also sustaining a trade surplus of approximately US$23 billion or more, making a significant contribution to achieving double-digit GDP growth in 2026 and subsequent years.
Many difficulties and challenges
Seafood exports are projected to reach a record high of $11.3 billion in 2025, and continue to grow by 20% in the first two months of 2026 compared to the same period in 2025, reaching $1.7 billion. However, seafood exports are facing a series of major challenges.
Logistics costs have increased due to the impact of the Middle East conflict, which has severely affected the industry's operations because seafood exports are heavily dependent on sea transport.
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Ms. Le Hang,
Deputy Secretary General of the Vietnam Association of Seafood Processing and Export (VASEP)
According to Le Hang, Deputy Secretary General of the Vietnam Association of Seafood Processing and Export (VASEP), logistics costs have increased due to the impact of the Middle East conflict, which strongly affects the industry's operations because seafood exports are heavily dependent on sea transport. Currently, businesses are being informed that many ships have to be diverted to Africa, extending the time it takes to transport seafood to Europe or the East Coast of the United States by about 1-2 weeks, thus increasing costs. Insurance companies will not cover insurance for routes through the high-risk Middle East region. Furthermore, the cost of packaging and some auxiliary materials for seafood processing is also skyrocketing.
In addition, seafood exports also face challenges from trade protection measures or tariff policies on many key products such as shrimp and pangasius. Since January, the US has begun banning seafood products from 12 fisheries that are not recognized as equivalent under the Marine Mammal Protection Act.
In February, the US announced the final results of the 19th administrative review (POR19) of the anti-dumping duty order on shrimp. Accordingly, two Vietnamese companies, STAPIMEX and Thong Thuan, were subject to an anti-dumping duty of nearly 26%, while the group of companies not subject to mandatory inspection were subject to a rate of over 4.5%. This result caused shrimp exports to the US to decrease by as much as 60% in February alone.
In 2025, trade turnover between Vietnam and the UAE is expected to exceed US$6.5 billion, with Vietnam achieving a trade surplus of nearly US$5 billion. Notably, the UAE government's announcement that the Vietnam-UAE Comprehensive Economic Partnership Agreement (CEPA) came into effect on February 3rd has immediately impacted Vietnamese exports to this market, with turnover reaching nearly US$1 billion in the first two months of the year, an increase of approximately 10% compared to the same period last year. However, according to Mr. Truong Xuan Trung, Head of the Vietnamese Trade Office in the UAE, following the Middle East conflict, exports to this market may face several risks, such as logistics disruptions; fluctuations in fuel prices leading to increased transportation and production costs, reducing the competitiveness of Vietnamese goods in the Middle East market in the future. On the other hand, because the UAE is currently focusing on maintaining stability in essential goods, some Vietnamese agricultural exports such as spices and fresh fruits may be affected.
Mr. Trung noted that Vietnamese export businesses may face payment risks for signed import contracts or shipments already transported to the UAE but unable to enter the country due to the conflict. In discussions with the Trade Office, many businesses reported having to "sell off" shipments stranded at sea because they were unable to enter the UAE.
Expand markets, reduce dependence.
As one of Vietnam's key export industries, the textile and garment sector currently exports to approximately 130 countries and territories, but mainly focuses on a few major markets such as the US, EU, Japan, South Korea, and China (accounting for nearly 90%), while the remaining markets only account for over 10%. Therefore, Mr. Truong Van Cam, Vice President and General Secretary of the Vietnam Textile and Garment Association (VITAS), suggested that the Ministry of Industry and Trade continue to support businesses in boosting promotional activities in new, high-potential markets, especially those markets where businesses have already conducted exploratory export activities.
Furthermore, the biggest bottleneck in the textile and garment industry is the shortage of raw materials and components. If Vietnam cannot secure its own supply of these materials, it will be unable to benefit from free trade agreements, or will benefit very little. The Vietnamese textile, garment, and footwear industry development strategy until 2030, with a vision to 2035, also clearly states that the solution is to develop large textile and garment industrial zones for the production of raw materials and components to serve domestic production.
Mr. Cam suggested that the Government direct ministries, sectors, and localities to focus on implementing the established Strategy, especially localities needing to quickly review the planning of industrial zones that have changed after the merger process. Vietnamese trade offices abroad should proactively seek and introduce reputable investors in the textile manufacturing and dyeing and finishing sector to invest in Vietnam.
According to Ms. Le Hang, in the current challenging context, diversifying markets and enhancing product value are key factors for the fisheries sector to maintain growth. Therefore, VASEP recommends that the Ministry of Industry and Trade, in addition to key markets, expand its promotion program to other potential markets such as Brazil, South America, or South Asia, reducing dependence on traditional markets like the United States and the EU, and creating more room for growth in the fisheries sector. Vietnamese trade offices abroad need to strengthen the promotion of information about domestic export businesses to foreign partners, creating conditions for export businesses to access more partners and sign more new contracts; at the same time, continue to support businesses in removing barriers and difficulties in export markets, especially in responding to trade defense cases.
The Ministry will continue to closely monitor developments in the markets to propose to the Government directives and coordinated management among relevant ministries and agencies regarding import and export activities. The Trade Office system is also required to closely monitor the markets to provide timely information and warnings to the Ministry and businesses.
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Director of Import and Export Department (Ministry of Industry and Trade) Nguyen Anh Son
Furthermore, in the current uncertain market environment, providing market information and early warnings is of great significance, helping businesses proactively plan production and respond to emerging situations. According to Nguyen Anh Son, Director of the Import-Export Department (Ministry of Industry and Trade), the Ministry will continue to closely monitor developments in the markets to propose to the Government directives and coordinated management among relevant ministries and agencies regarding import and export activities. The Trade Offices system is also required to closely monitor markets to provide timely information and warnings to the Ministry and businesses.
According to nhandan.vn
Source: https://baovinhlong.com.vn/kinh-te/202603/giu-vung-da-tang-xuat-khau-3962065/
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