The agreement laying a solid foundation for promoting stable and sustainable rice trade between the two countries.

Vietnam and Singapore on October 30 signed a Memorandum of
Cooperation (MOC) on rice trade, laying a solid foundation for
promoting stable and sustainable rice trade between the two countries.

The deal was inked by Vietnamese Minister of Industry and
Trade Nguyen Hong Dien and Singaporean Minister for Sustainability and the
Environment and Minister-in-charge of Trade Relations Grace Fu on the sidelines
of the APEC Economic Leaders’ Week in Gyeongju, the Republic of Korea.

Vietnam is the first country to sign a MOC on rice trade  with
Singapore, marking an important milestone in strengthening bilateral food
security cooperation.

Under the agreement, Vietnam will facilitate the uninterrupted
export of an agreed quantity of rice to Singapore under mutually agreed terms,
upon Singapore’s request.

According to statistics from Enterprise Singapore, Vietnam
is currently the third-largest rice supplier to Singapore, after India and
Thailand. Notably, in the first half of 2024, Vietnam briefly became Singapore’s
largest rice exporter, underscoring its strong supply capacity and the high
quality of Vietnamese rice, which meets Singapore’s stringent standards and
requirements.

VnEconomy-Nguyệt Hà