Research - Impact of IUU Yellow Card on Vietnam's Seafood Export to the EU Market

IUU fishing, which includes illegal, unreported, and unregulated activities, poses severe threats to marine environments, fish stock sustainability, and the socio-economic conditions of fishers. The EU's stringent regulations against IUU fishing have led to Vietnam receiving a yellow card in 2017, which has not yet been lifted despite multiple inspections. The yellow card has had a profound impact on Vietnam's seafood exports, resulting in a decline in export revenue, loss of market share in the EU, and substantial economic losses. The report highlights the significant challenges and repercussions faced by Vietnam; additionally it underscores the urgent need for Vietnam to address these issues to avoid further repercussions, including the potential escalation to a red card warning.

Vietnam has made considerable efforts to lift the yellow card by enhancing its legal framework, improving monitoring and control of fishing activities, and increasing traceability of seafood products. Also, the recent discussions between Prime Minister Pham Minh Chinh and EC President Ursula von der Leyen at the G20 Summit indicate a commitment to resolving these issues.

Overall, the report serves as a comprehensive resource for understanding the impact of the IUU yellow card on Vietnam's seafood industry and the necessary measures to achieve sustainable and responsible fishing practices. It calls for ongoing vigilance and proactive measures to ensure the long-term viability of Vietnam's seafood exports to the EU market.

* The report is in Vietnamese only, with English summary.