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. Last Updated: 07/27/2016

Vietnam Seeks $100M in Fish Sales

HANOI, Vietnam -- Vietnam's largest fish exporter, Navico, expects to earn $100 million in catfish exports to Russia this year, the Vietnam News Agency reported Wednesday.

Last month, Russian Consul General Nikolai Ubushiyev visited Navico's processing plant and signed a memorandum of cooperation for 2007 with the exporter, the report said.

Navico's CEO Doan Toi said in March that the firm wanted to increase fish exports, mainly catfish products, by 53 percent to $250 million this year from 2006. He cited strong demand in the EU and Russia.

Navico plans to raise at least $37 million from its IPO this month on Vietnam's stock market. Navico's 2007 export targets to Russia will nearly double Vietnam's total catfish export earnings from Russia in 2006 of $54.9 million.