Vietnam, Malaysia hold great potential for trade cooperation
Ample room remain for boosting trade cooperation between Vietnam and Malaysia, including the export of Vietnamese tra (pangsius) fish, as both countries strive to capitalise on regional trade agreements such as the Regional Comprehensive Economic Partnership (RCEP) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), experts have said.
The Vietnam Association of Seafood Exporters and Producers (VASEP) reports that Vietnamese pangasius products consistently rank among the most favoured white fish in global markets, with Malaysia being no exception. Exports of this fish to Malaysia have shown steady growth in recent years, it said.
Shipment of Vietnam's pangasius to Malaysia reached an estimated US$31 million in the first 11 months of this year, marking a year-on-year increase of over 21%, according to VASEP representatives.
Nguyen Thi Thu Hang, a market expert from VASEP, noted that frozen pangasius fillets are Malaysia's most imported whitefish product. Vietnam stands out as the largest supplier of frozen pangasius fillets to Malaysia, accounting for 96% of the country’s total imports in this category.
To Thi Tuong Lan, Deputy Secretary General of VASEP, highlighted Malaysia as a vital market within the Halal economy. To maintain and expand their foothold in this market, Vietnamese pangasius exporters must adhere to Halal certification standards and excel in meeting these requirements.
