The Vietnam Association of Seafood Exporters and Producers on Wednesday proposed importing between $1.5 and $2 billion worth of seafood products yearly, the Vietnam Economic Times reported.
If the country increases its imports it can boost its seafood export revenues by $1.8 billion to $3.5 billion to $6 billion to $8 billion to become the world’s second-biggest seafood exporter, behind China, and ensure sufficient product for local processing plants facing raw material shortages.
The association also proposed the government lower import tariffs on seafood products to 0 or 0.5 percent.
Vietnam imports $200 million to $250 million worth of aquatic products yearly from 70 countries and territories worldwide.
In 2007, Vietnamese companies imported 122,196 tons of aquatic products, accounting for more than 3 percent of the country's total production.
