This marks the second instance of Vietnam and the United States reaching a bilateral agreement to resolve a WTO dispute.

Export value likely to be down for 2023 as a whole.

Data from the Vietnam Association of Seafood Exporters and Producers (VASEP) shows that pangasius exports brought in $2 billion in the first nine months of 2022. With such results and a slight rise expected over the next few months, it is forecast that annual export turnover may hit a record $2.5-2.6 billion, or one and a half times higher than last year.

The Vietnam Association of Seafood Exporters and Producers (VASEP) has said that Vietnam’s pangasius exports reached over $1.8 billion in the first eight months of 2022, up 81 per cent year-on-year. Exports to the US accounted for 23 per cent, worth more than $421 million, up 87 per cent year-on-year. The average price of frozen pangasius fillets exported to the US in August was a record $5 per kilo.

Vietnam’s pangasius industry has been struggling from the impact of Covid-19, with many businesses having to cease production and transport networks being interrupted. It is therefore necessary to build a new long-term development strategy for the industry.