Freezing shrimps for exports at Minh Phu- Hau Giang Seafood Processing Company (Photo: Vu Sinh/VNA)

More than 1,000 exporters from around the world attended the annual event to introduce their newest seafood products and processing and packaging equipment.

According to An The Dung, director of the Ministry of Industry and Trade’s Trade Promotion Office in the US, Vietnamese seafood has a great opportunity to break into the US, where demand for seafood products is growing.

Furthermore, anti-dumping taxes levied on Vietnamese shrimp are expected to decline from 25.4% to 4.6% while tra fish, which has long been popular among foreign consumers, will soon be certified for shipping to this market.

The Vietnam Association of Seafood Exporters and Producers said Vietnam’s seafood sector has great prospects for this year because world consumption is sharply increasing. Seafood consumption is expected to rise to almost 99 million tons in developing countries and more than 29 million tons in developed countries by 2020.

The Association says it will work to increase Vietnamese seafood’s market share in important markets like the US, and make quality not low price, Vietnam’s competitive edge.