'Big Four' shrimp producers join forces
The world's four largest shrimp-producing nations are joining forces to ride out the economic downturn.
Trade associations from Thailand, Vietnam, Indonesia and China this week signed a multilateral cooperation agreement to develop and maintain a healthy farmed shrimp industry in all four countries by encouraging socially and environmentally responsible shrimp-farming practices and weeding out harmful ones.
The groups include the Thai Shrimp Association, Vietnam Association of Seafood Exporters and Processors, Indonesian Shrimp Board of Commodity and Chinese Aquatic Products Processing and Marketing Association.
Collectively, the "Big Four" produce 80 percent of the world's farmed shrimp.
The groups will work together to reduce tariffs, share technological knowledge, increase the number and variety of shrimp products and expand local and regional markets.
The groups also plan to invite other shrimp-producing nations to join the alliance, including Bangladesh, Brazil, India, Mexico and Ecuador.
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