Vietnam and Malaysia: A Rising Partnership in Seafood Exports
Vietnam and Malaysia are poised to strengthen their trade relationship, with a particular focus on the export of Vietnamese tra fish (pangasius). Both countries recognize the significant potential for growth in this sector, driven by regional trade agreements and a growing demand for quality seafood.
Pangasius: A Favored White Fish in Malaysia
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), Vietnamese pangasius consistently ranks among the most popular white fish choices globally, including in Malaysia. This preference has translated into steady growth in pangasius exports from Vietnam to Malaysia in recent years.
Strong Growth in pangasius Exports
Shipping records show a marked increase in Vietnamese pangasius exports to Malaysia. In the first 11 months of 2023, exports reached an estimated US$31 million, representing a significant year-on-year growth of over 21 percent. Frozen pangasius fillets emerge as the most sought-after product in this market, with Vietnam supplying 96 percent of Malaysia’s total imports in this category.
Halal Certification: A Key to Success
Malaysia’s position as a major player in the Halal economy presents a valuable opportunity for Vietnamese pangasius exporters. To capitalize on this, stressing the importance of adhering to Halal certification standards and fulfilling all its requirements. According to To Thi Tuong Lan, Deputy Secretary-General of VASEP, Malaysia is a vital market within the Halal economy.
A Partnership with a Bright Future
The synergy between Vietnam’s thriving pangasius industry and Malaysia’s growing demand for quality seafood paints a promising picture for the future of their trade relationship. Harnessing the benefits of regional trade agreements like RCEP and CPTPP, Vietnam and Malaysia are well-positioned to further solidify this partnership and unlock substantial mutual benefits.
Want to learn more about Vietnamese pangasius and its growing presence in the global market? Contact VASEP today!