The Impact Of The Iuu Yellow Card On Vietnam’s Tuna Exports To The Eu Market

Research purpose: This research aims to examine the impact of the IUU (Illegal, Unreported, and Unregulated) yellow card issued by the European Union on Vietnam’s tuna exports to the EU market. Research motivation: The motivation behind this study stems from the significant economic implications of the IUU yellow card for Vietnam, a major exporter of tuna. With the EU being a crucial market for Vietnamese seafood, understanding the consequences of the yellow card on tuna exports is essential for assessing the economic impact on exporters and the industry’s adaptability. This insight is vital for policymakers and industry stakeholders aiming to address compliance issues and restore market access. Research design, approach and method: This study utilizes the gravity model of to examine the fluctuations in the export value of tuna, swordfish, sharks, and rays amidst the context of the European Commission’s (EC) issuance of the IUU yellow card warning to Vietnam’s seafood sector. Main findings: The research demonstrates the overwhelming negative impact of COVID-19, which outweighed the expected benefits of the EU-Vietnam Free Trade Agreement (EVFTA) on Vietnam’s exports. Simultaneously, the yellow card warning from the EC against Vietnam’s seafood industry has had a strong negative impact on the export of tuna, swordfish, sharks, and rays to the EU (27), highlighting the urgent need to remove the IUU yellow card for Vietnam’s seafood industry. Practical/managerial implications: Policy makers and industry leaders in Vietnam should make efforts to lift the IUU yellow card to minimize its negative impact on trade and restore market access. To achieve this, it is essential to strengthen compliance with IUU regulations, improve monitoring and control systems, and enhance transparency in fishing practices.