A Trade-Based Analysis of the Economic Impact of Non-Compliance with Illegal, Unreported and Unregulated Fishing : The Case of Vietnam
Illegal, unreported and unregulated (IUU) fishing is a threat to the sustainable use of fishing resources. To eliminate the destructive fishing practices, the whole value chain of fish trade needs to be well regulated. Trade-related policy measures...
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| Language: | English |
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World Bank, Washington, DC
2021
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| Online Access: | http://documents.worldbank.org/curated/en/961181628512592411/A-Trade-Based-Analysis-of-the-Economic-Impact-of-Non-Compliance-with-Illegal-Unreported-and-Unregulated-Fishing-The-Case-of-Vietnam http://hdl.handle.net/10986/36132 |
| Summary: | Illegal, unreported and unregulated
(IUU) fishing is a threat to the sustainable use of fishing
resources. To eliminate the destructive fishing practices,
the whole value chain of fish trade needs to be well
regulated. Trade-related policy measures show potential for
contributing towards the elimination of unsustainable
fishing practices. The EU’s launch of the IUU-combating
fishing program and the introduction of measures to deal
with countries that exploit, produce and export fishery
products with illegal fishing origin, is indispensable in
addressing harmful trends and a concern of the whole world,
especially the fishing community. The EU is a very important
trading partner for Vietnam and major importer of Vietnam’s
fish products, of which seafood plays an important role. The
EU market helps pave the way for Vietnamese seafood to enter
the world market. Vietnam’s seafood export to the EU has
increased sharply over the past twenty years. The year of
2017 marked a critical turning point for Vietnam’s fisheries
when the EU issued a yellow card warning to Vietnam for not
cooperating and making enough efforts to combat IUU fishing.
There will be many other consequences from the IUU yellow
card warning and the impact will be more serious if Vietnam
does not remove the yellow card soon or receives a red card
warning. The main objective of this study is to assess the
economic impact of the IUU yellow card, and a possible red
card, on Vietnam’s fisheries sector in the short term and
medium term. The report also reviews the new challenges
faced by the seafood sector as a result of the Coronavirus
Disease (COVID-19) pandemic. |
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