The Vietnam Trade Office in Singapore cited that statistics from Enterprise Singapore as saying that in Q1, the city-state’s total seafood import value reached nearly SGD283.6 million (more than US$216 million), an increase of 1.1% year-on-year.

During the period, Malaysia and Indonesia were the largest and second biggest seafood suppliers to the Singaporean market with value reaching SGD37.4 and 32.2 million, respectively, accounting for 13.2% and 11.4% of the total market share. Norway came third, with SGD30.4 million, or 10.7%.

Vietnam's seafood exports to Singapore reached SGD28.7 million, an increase of 19.3% compared to the same period last year, accounting for 10.1% of the total market share.

To support Vietnamese seafood enterprises in finding and expanding alternative markets for the US market, which is affected by tariffs, in early April, the Vietnam Trade Office in Singapore had a meeting with the leaders of the Vietnam Association of Seafood Exporters and Producers (VASEP).

The two sides agreed to continue to coordinate in providing local information, connecting trade between Vietnamese and Singaporean seafood enterprises while enhancing trade promotion, participating in seafood exhibitions in Singapore, increasing the presence of Vietnamese goods in the country in the coming time.

The office recommended that Vietnamese seafood producers need to focus on controlling the quality of goods, regularly updating local regulations, improving product packaging, and enhancing product quality and productivity to increase competitiveness with similar products from countries in the region.

Vietnam - Singapore trade turnover rises sharply in Q1

VOV.VN - The two-way import-export turnover between Vietnam and Singapore in the first quarter of the year reached more than SGD9.81 billion, up 27.32% year on year, according to the Vietnam Trade Office in Singapore.