As the third largest seafood exporter in the world, Việt Nam''s could lose about US$480 million per year if it fails in its fight against illegal, unreported and unregulated (IUU) fishing.
Viet Nam has been actively working to implement the European Commission (EC)’s recommendations since it announced a yellow card on Vietnamese fisheries on October 23 last year.
The US National Oceanic and Atmospheric Administration (NOAA) has urged Vietnamese seafood processors, importers and exporters to fight against illegal, unreported and unregulated (IUU) fishing, following a new rule that takes effect next year.
The EU is set to rule this month on the Vietnamese seafood industry’s compliance with its regulations on illegal, unreported and unregulated (IUU) fishing, and the US has just announced new rules relating to the same issue.