Vietnam: Aiming at $11 billion of seafood exports in 2025

Vietnam: Aiming at $11 billion of seafood exports in 2025

Despite facing challenges like increased competition, trade wars, and market barriers, Vietnam’s seafood exports are expected to continue growing, potentially reaching $11 billion in 2025, similar to 2022. Vasep Communications Director Le Hang stated that while Vietnam's seafood exports are expected to grow and return to 2022 levels in 2025, the industry will face significant challenges. Despite this, Hang highlighted that key global markets, including the US, EU, Japan, and China, have shown recoveries in 2024 and will continue to drive high demand for seafood exports in 2025. Looking ahead to 2025, while challenges remain—such as climate change, competition from…
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Maldives: Gov't to establish dedicated company to promote, market Maldivian fisheries products

Maldives: Gov't to establish dedicated company to promote, market Maldivian fisheries products

The Maldives government will establish a state-owned company, namely the Maldives Fisheries and Ocean Resources Marketing and Promotion Corporation, to promote and market the country’s fisheries products locally and internationally. Announced by President Dr. Mohamed Muizzu after a Cabinet meeting, the initiative aims to boost profits for fisheries enterprises, including aquaculture and mariculture, explore new markets and promote Maldivian fisheries products internationally as premium items under a unique Maldivian brand. The new company is part of the administration's Haftha 14 roadmap and will replace the existing Maldives Fisheries Promotion Board. Source: https://raajje.mv/146877
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Bangladesh: Raise dollar exchange rate for shrimp, fish exports to Tk 125.50

Bangladesh: Raise dollar exchange rate for shrimp, fish exports to Tk 125.50

The Bangladesh Frozen Foods Exporters Association (BFFEA) has urged the government to raise the US dollar exchange rate for processed frozen shrimp and fish exports from Tk 118.90 to Tk 125.50. In a letter to the finance ministry, BFFEA highlighted challenges such as high interest rates, rising utility costs, and inadequate ancillary services impacting exporters. They argued that increasing the exchange rate would help sustain export-oriented businesses, boost export earnings, and stabilize the foreign exchange market. Source: FE REPORT
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Malaysia eyes cold storage air freight hub in Sabah to boost seafood exports to China

Malaysia eyes cold storage air freight hub in Sabah to boost seafood exports to China

Malaysia plans to establish a cold storage air freight hub in Sabah to boost seafood exports to Greater China, aiming to strengthen trade ties with its largest trading partner. Transport Minister Anthony Loke announced this initiative during the Malaysia-China Summit, emphasizing Sabah’s potential as a significant seafood exporter. The hub in Kota Kinabalu will enhance cold chain cargo capabilities for faster access to China, aligning with Malaysia's broader strategy to position itself as a trade gateway for ASEAN. This plan includes developing multiple aviation cargo hubs across the country. Source: Malay Mail
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To tackle plastic scourge, Philippines makes companies pay

To tackle plastic scourge, Philippines makes companies pay

The Philippines, one of the world's top sources of ocean plastic, has introduced new legislation aimed at reducing plastic waste. The "Extended Producer Responsibility" (EPR) law, which came into effect last year, is the first in Southeast Asia to penalize companies for plastic waste. Half of the eligible companies have implemented EPR programs, and over 1,000 more must comply by December 2024 or face significant fines. Source: sg.news.yahoo.com/tackle-plastic-scourge-philippines
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Philippines: Government unveils framework to protect, enhance small-scale fisheries

Philippines: Government unveils framework to protect, enhance small-scale fisheries

The Philippine government has launched the National Plan of Action for Small-Scale Fisheries (NPOA-SSF), a groundbreaking initiative in Asia aimed at improving and protecting small-scale fisheries, in which its focuses are on food security, poverty reduction, and sustainable development through a human rights-based approach. The NPOA-SSF aligns with the FAO’s global roadmap to transform aquatic food systems, ensuring sustainable fisheries and equitable livelihoods and contributes to the UN’s 2030 Agenda for Sustainable Development. Source: https://business.inquirer.net/489599/govt-unveils-framework-to-protect-enhance-small-scale-fisheries
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Maldives, Turkey sign Preferential Trade Agreement to boost bilateral trade ties

Maldives, Turkey sign Preferential Trade Agreement to boost bilateral trade ties

The governments of the Maldives and Turkey have signed a Preferential Trade Agreement (PTA) to strengthen bilateral trade relations. In a publication on Monday, the Ministry of Economic Development and Trade announced that the signing of the PTA marks a significant milestone in the implementation of key agreements reached during President Dr. Mohamed Muizzu’s first state visit to Türkiye in November 2023. Source: https://raajje.mv/159751
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Bangladesh: Fishermen Set to Resume Hilsa Fishing as Ban Ends at Midnight

Bangladesh: Fishermen Set to Resume Hilsa Fishing as Ban Ends at Midnight

Fishermen are preparing to resume hilsa fishing at midnight, as the 22-day ban, which began on October 13, on catching, selling, and transporting the fish comes to an end. Several fishermen have expressed frustration over illegal fishing activities in neighboring districts, which have made it difficult to find hilsa, even after the ban lifts. Additionally, many fishermen have voiced dissatisfaction with the government’s food assistance during the ban, citing rising costs and the struggle to support their families, particularly when it comes to covering their children’s education expenses. Source: https://www.tbsnews.net/bangladesh/fishermen-set-resume-hilsa-fishing-ban-ends-midnight-983441
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Maldives: MIFCO partners with MSS to export fish products

Maldives: MIFCO partners with MSS to export fish products

MIFCO has signed an agreement with Maldives State Shipping (MSS) to export its fish and fish products using MSS vessels. This includes frozen fish, canned fish, tuna pouches, and fishmeal. The agreement aims to streamline export processes, reduce costs, and ease pressure on MIFCO's storage facilities. It also opens up new global markets for MIFCO's products and allows the company to focus more on fish production alongside exports. Source: Dhivehi
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Philippines: DA-BFAR Celebrates  61st Fish Conservation Week

Philippines: DA-BFAR Celebrates 61st Fish Conservation Week

The Department of Agriculture–Bureau of Fisheries and Aquatic Resources (DA-BFAR) launched the 61st Fish Conservation Week in Quezon City on September 16, 2024. The event highlighted the agency's commitment to uniting stakeholders for sustainable fisheries development under the "Bagong Pilipinas" (New Philippines) vision. In her speech, DA Undersecretary for Fisheries Drusila Esther E. Bayate emphasized the importance of collaboration across all sectors to sustainably protect the country’s fisheries resources. She described the event as a campaign for all Filipinos to unite for a sustainable fishery, urging everyone to support government programs to achieve these goals. Source: BFAR
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Maldives permanently bans longline fishing

Maldives permanently bans longline fishing

To protect the marine life that is often caught as bycatch, a campaign led by local and international conservation NGOs, local fishers, and tourism groups came out with a co-signing letter by more than 100 international scientists urging the government to halt the issuance of longline fishing licenses. This stance against harmful yet efficient fishing methods demonstrates that the Maldives sets an example for other countries on how to balance fishing income with ocean health and environmental protection. Source: https://www.worldfishing.net/fisheries/maldives-permanently-bans-longline-fishing/1496133.article
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Maldives signs the BBNJ Agreement

Maldives signs the BBNJ Agreement

The Maldives signed the BBNJ Agreement on 3 September 2024 as its 92nd signatory. On the behalf of the Maldives, the Permanent Representative to the United Nations, Dr Ali Naseer Mohamed, signed the Agreement at a ceremony held in the United Nations Headquarters in New York. In 2015 the United Nations General Assembly decided to develop a legally binding instrument relating to the protection and sustainable use of marine biological diversity and areas beyond national jurisdiction. Following this, the substance of the instrument was compiled in the years between 2016 and 2023, and the legal instrument was adopted on 19…
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