The average loss for each container of shipments to the EU due to the EC’s yellow card is 10,000 euros, according to a source.

The seafood sector witnessed unsatisfactory business results in the first nine months of the year as a number of big companies reported sharp declines in profits in comparison with the same period last year.

An inspection team from the EC has paid a working visit in Ho Chi Minh City and Kien Giang to conduct a second review of Vietnam's implementation of recommendations regarding IUU fishing.

The EU, which was once the second biggest seafood export market for Vietnam, consuming 18 percent of Vietnam’s seafood exports, fell to fifth, with 13 percent, after the EU gave Vietnam the yellow card.

Vietnam’s fishery sector expects to regain a “green card” from the European Commission after working tirelessly to fight illegal, unreported and unregulated (or IUU) fishing.