Vietnam and Singapore sign a Memorandum of Cooperation on rice trade

On October 30, on the sidelines of the APEC Economic Leaders’ Meeting in Gyeongju (Republic of Korea), Vietnam and Singapore signed a Memorandum of Cooperation (MOC) on rice trade.

The signing ceremony was conducted between Ms. Grace Fu, Singapore’s Minister for Sustainability and the Environment and Minister-in-charge of Trade Relations, and Mr. Nguyen Hong Dien, Vietnam’s Minister of Industry and Trade.

Under the MOC, both sides agreed to strengthen cooperation to promote stable and sustainable rice trade, thereby contributing to ensuring bilateral food security by avoiding unnecessary trade restrictions. Vietnam will facilitate the export of rice to Singapore in quantities mutually agreed upon, based on the actual demand of the Singaporean market.

Speaking at the signing ceremony, Minister Grace Fu noted that this is Singapore’s first rice trade cooperation memorandum with a partner country, and Vietnam has been chosen for this milestone.
“As a country that imports more than 90% of its food needs, Singapore is highly vulnerable to global supply chain disruptions. Establishing strategic partnerships is therefore key to ensuring a stable and long-term rice supply,” she emphasized.

For his part, Minister Nguyen Hong Dien affirmed that Singapore is one of Vietnam’s leading economic partners and an important export market. The signing of this MOC marks a concrete step in implementing the Comprehensive Strategic Partnership between the two countries, while laying a foundation for stable and sustainable rice trade cooperation amid global market uncertainties.

Minister Dien also expressed his hope that the two sides’ relevant authorities will continue to work closely to expand cooperation — not only in rice but also in other high-quality and reputable Vietnamese agricultural and food products in the Singaporean market.

The enhanced cooperation in rice trade between Vietnam and Singapore demonstrates both countries’ strong commitment to strengthening supply chain resilience and ensuring food security across the ASEAN region.

Source: Doanhnghiephoinhap