Bright prospects ahead for local agricultural exports to Singapore

VOV.VN - There remains plenty of room for Vietnamese farm produce exports to Singapore to grow as the island nation is keen on seeking partner countries to co-operate in the production of agricultural products and processed foods, according to industry insiders.

This information was unveiled by Tran Thu Quynh, trade counselor cum head of Vietnamese Trade Office in Singapore, during a recent conference aimed at introducing fresh import-export management regulations and trade opportunities with ASEAN markets moving into the post-COVID-19 period. 

During the recent Vietnam National Brands Week 2021 – Hybrid Expo on Halal and Processed Food Product, Vietnamese goods have also received positive feedback from importers with regard to their overall quality and product prices.

Singapore is currently interested in becoming a global hub for Halal food with the island nation paying special attention to the processed food industry.

The factor is expected to create an array of opportunities for Vietnamese enterprises to export more materials for processed foods and Halal food in future. 

Furthermore, Singapore also plays a key role as a transshipment destination for goods on their way to another market, such as China, Brunei, and Indonesia.

Both sides are the only two countries in the ASEAN bloc that have signed a Free Trade Agreement with the EU and the UK, including the EU - Singapore Free Trade Agreement (EUSFTA) and the UK-Singapore Free Trade Agreement (UKSFTA).

These moves are therefore anticipated to contribute to helping businesses of both sides boost exports to each other’s markets as they enjoy preferential tariffs and fully tap into the rule of origin from the signed FTAs.

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