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VietNamNews

Singapore a lucrative market for agriculture

Update: October, 11/2014 - 09:34
Vietnamese frozen fish is popular in Singapore because of its affordable price and good flavour, said Lee Boon Cheow, chairman of the Singapore Fish Merchants' General Association.— Photo thuysanvietnam

HA NOI (VNS)— Vietnamese enterprises are enjoying a great opportunity to accelerate their agro-fisheries exports to Singapore, which has a large demand for these products.

Nguyen Viet Chi, Vietnamese commercial counsellor to Singapore, made this remark during a trade exchange in the island nation last Thursday, and revealed that nearly all seafood and agricultural products in Singapore were imported. These goods are Viet Nam's strongest exports, Chi noted.

Vietnamese frozen fish is popular in Singapore because of its affordable price and good flavour, said Lee Boon Cheow, chairman of the Singapore Fish Merchants' General Association.

Low transport costs due to geographical proximity also facilitated the export of a large volume of Vietnamese frozen fish to the market, Cheow added. He also revealed that his association would try to increase the importation of dried fish from Viet Nam.

Chi said Viet Nam's seafood and agricultural exports to Singapore have experienced an average annual growth of nearly 20 per cent, from S$279 million (US$220 million) in 2011 to approximately S$400 million ($315 million) in 2013.

Viet Nam was current the third largest rice exporter to Singapore after India and Thailand, with a turnover hitting nearly S$79 million ($62 million) in 2013 or nearly 30 per cent of the country's total rice imports.

The country was also the third largest supplier of seafood exports and the eighth largest supplier of fruit and vegetable exports to Singapore.

In spite of these encouraging results, bilateral trade between the two countries accounted for less than four per cent of Singapore's total imports, said Le An Hai, deputy head of the Ministry of Industry and Trade's Asian-Pacific Market Department, on the sidelines of the event.

The ministry expected to double or even triple the trade turnover in the years to come, Hai added. — VNS


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