Venezuelan White Shrimp Exports to China Set to Resume

      According to the latest announcement issued by the China Chamber of Commerce of Foodstuffs and Native Produce on December 7, the Venezuelan Minister of Fisheries, Mr. Loyo, has provided the following response after persistent efforts and significant coordination by the Economic and Commercial Office of the Chinese Embassy in Venezuela:

       "To maintain the trade relationship of aquatic products between China and Venezuela, the Venezuelan Ministry of Fisheries and Lamar Group respect previous agreements. For goods already paid in full by Chinese importers and currently at port, clearance will be expedited, and relevant documents will be issued. Goods in transit and not yet shipped will be processed in accordance with the original agreements; however, Chinese companies are requested to remit the remaining payments to a new account. Specific details will be communicated by the new management team of Lamar Group to the respective companies individually."

       For information regarding the new account and other details, please contact the China Chamber of Commerce of Foodstuffs and Native Produce (contact details are provided in the explanatory note "On the Recent Resumption of Venezuelan Shrimp Exports to China").

     This indicates that, with strong advocacy from the Chinese side and cooperation from the Venezuelan side, the rights and interests of Chinese white shrimp importers are essentially safeguarded. However, importers must still communicate and confirm follow-up procedures with the Venezuelan parties in detail.