Vietnam and Malaysia are poised to considerably boost their trade relationship, with a particular focus on Vietnamese tra fish exports, according to experts.
Both countries are looking to capitalize on regional trade agreements like the Regional Extensive Economic Partnership (RCEP) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) to further strengthen their economic ties.
Vietnamese tra fish, also known as pangasius, is a highly sought-after white fish in global markets, and Malaysia is no exception. “vietnamese pangasius products consistently rank among the most favoured white fish in global markets, with Malaysia being no exception,” the Vietnam Association of Seafood Exporters and Producers (VASEP) reported.
Recent years have seen a steady increase in tra fish exports from Vietnam to Malaysia. According to VASEP representatives,shipments reached an estimated US$31 million in the first 11 months of this year,representing a year-on-year increase of over 21 percent.
“Frozen pangasius fillets are Malaysia’s most imported whitefish product,” noted Nguyen Thi Thu Hang, a market expert from VASEP.She added that Vietnam is the dominant supplier of these fillets to Malaysia, accounting for 96 percent of the contry’s total imports in this category.
To Thi Tuong Lan, Deputy Secretary-General of VASEP, emphasized the importance of Malaysia as a key market within the Halal economy. “To maintain and expand their foothold in this market, Vietnamese pangasius exporters must adhere to Halal certification standards and excel in meeting these requirements,” she stated.
The growing trade relationship between Vietnam and Malaysia highlights the potential for mutually beneficial partnerships within the Southeast Asian region.
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