Vietnam’s shrimp industry is actively exploring the potential of the Middle East market for growth, with the Vietnam Association of Seafood Exporters and Producers (VASEP) emphasizing opportunities despite a slight decline in exports during the 10-month period.

The Middle East currently accounts for 1.3% of Vietnam’s total shrimp exports, with a value exceeding USD 39 million during the specified period. Despite a 10% decrease compared to the previous year, industry experts believe that there are ample opportunities for local businesses to tap into this market.

With challenges in major consumer markets, industry insiders suggest that Vietnamese shrimp exporters should focus on smaller market segments to boost overall exports. Notably, the Middle East’s largest importers of Vietnamese shrimp include Israel, Saudi Arabia, the UAE, Qatar, Lebanon, Turkey, Iran, and Kuwait.

During the 10-month period, Vietnam experienced a notable increase in shrimp exports to specific Middle East markets. Saudi Arabia and Iran, in particular, witnessed a significant surge with a 42-fold and eight-fold rise, reaching USD 7.6 million and USD 1.7 million, respectively. Additionally, Kuwait and Lebanon reported double-digit growth, while Oman and Qatar recorded remarkable increases of 16 times and four times, respectively.

Experts view the Middle East as a potential market for Vietnamese products due to the region’s heavy reliance on imported food supplies. With the Middle East importing up to 80% of food and foodstuffs annually, amounting to USD 40 billion, the demand for aquatic products, especially in countries like Saudi Arabia and the UAE, is on the rise.

To capitalize on these opportunities, local firms are advised to meet stringent import requirements for food products in the Middle East. This includes obtaining Halal certification and adhering to packaging standards, essential steps to establish a robust presence and expand further into the market.