Vietnam’s fishery products standing firm in Singapore
Statistics in the first half of this year show that for the first time, Vietnam’s fishery products maintained its position as the fifth largest partner in Singapore for the second consecutive quarter.
The Vietnam Trade Office in Singapore said Vietnam’s fishery exports to Singapore in the period under review rose by 0.81% to reach US$51.7 million, occupying a market share of 9.46%. A sharp export revenue rise was seen in fresh fish (25.42%).
Trade Counsellor in Singapore Cao Xuan Thang advised Vietnamese businesses to further improve the quality of the exports and take an active part in the office’s efforts in connecting with the host country’s peers so as to broaden their presence there.
Singaporean statistics show that in the first six months of this year, the country spent about SGD546.14 million (over US$406 million) to import fishery products from nearly 100 countries and territories. Imports from Vietnam included frozen fillet (28.69%) and processed fish (19.24%).
It is implementing a policy of continuously diversifying the sources of supply to ensure food security, and this is intensifying the competition among the exporters of fishery products to Singapore.
