A Vietnam booth has been arranged at the International Coffee & Tea Industry Expo (ICT Asia) that is underway in Singapore from May 25-27, aiming to give a chance for Vietnamese businesses to introduce their products and trademarks, and seek partnerships with their Singaporean and international peers.
Addressing the opening of the booth, Vietnamese Ambassador to Singapore Mai Phuoc Dung said that the event helps Singaporean and international friends get a better understanding about the potential and strengths of the Vietnamese tea and coffee industry, contributing to bringing Vietnamese farm produce trademarks to the world.
Dung said that trade ties between Vietnam and Singapore have been continuously growing. Two-way trade reached US$9.1 billion in 2022, up 11% year on year, he said, noting that Vietnam and Singapore are the only two ASEAN member countries that have signed free trade agreements with the UK and EU.
The two countries have also joined a number of other trade deals such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Regional Comprehensive Economic Partnership (RCEP), said the diplomat, adding that the two sides are taking full advantage of the deals to speed up post-pandemic recovery and support each other.
Vietnam’s booth showcases more than 100 coffee, tea, milk and food products of 30 companies. Particularly, egg coffee making performance at the booth drew special attention of visitors.
Cao Xuan Thang, Vietnamese Trade Counselor in Singapore, said that the event is the first activities of the Vietnam Week in Singapore, which aims to support domestic firms to increase the presence of their products in the Southeast Asian country. In the time to come, the Vietnam Trade Office will assist Vietnamese enterprises to access policies of Singapore and connect with local partners.
This year, ICT Asia, one of the leading trade fairs for the coffee and tea industry in Southeast Asia, drew more than 240 businesses from 26 countries and is expected to lure over 10,000 visitors.