(VOV) – Singapore is Vietnam’s third largest trading partner within ASEAN, sixth largest partner in the world.
Deputy Minister of Industry and Trade Tran Tuan Anh made the affirmation during a working visit to Singapore from June 9-10.
Deputy Minister Anh said that in recent years, trade between Vietnam and Singapore has been burgeoning and in 2013, total two-way trade turnover rose significantly to US$8.4 billion.
During the same period, Vietnam’s exports to Singapore rose by 12.4% over the prior year striking an all time record high of US$2.7 billion.
Trade got off to a brisk start during the first four months of 2014, Anh said rising 21.2% over the prior year’s same period to US$3.3 billion. Vietnam’s key exports to Singapore include crude oil, computers, electronics and components, machinery, equipment, telephones, farm produce, and seafood.
While the country’s primary imports from Singapore are petroleum, computers, electronics and components, machinery, equipment, telephones and chemical products.
Deputy Minister Anh’s working visit aimed to build on last year’s visit by Singaporean Prime Minister Lee Hsien Loong to Vietnam at which both sides agreed to work towards a more elevated comprehensive trading relationship.
During the visit, the Vietnamese delegation worked with Singapore’s Ministry of Trade and Industry, the Department of Business Management and representatives from major distributors on a number of proposals to expand exports.
They specifically addressed a number of proposals to expand agro-forestry-fisheries and garments and textiles exports to the Singaporean market.
The Singaporean market also poses great potential for Vietnam’s rice exports, Anh said. Most of Vietnamese rice varieties meet the high demands in the Singaporean market and currently Vietnamese rice accounts for over a 20% market share.
Vietnamese businesses have strategic advantages in exporting high quality and jasmine rice to this market and there is ample opportunity for future export growth.
Minister Anh expressed his hope that in the future, Singapore will continue actively supporting Vietnamese businesses, allowing them to participate in the global supply chain and distribute goods in Singapore as well as take part in fairs, and trade promotion events in Singapore.
Anh said to boost argo-forestry- fishery exports, the Ministry of Industry and Trade will strive to remove trade and technical barriers and comply fully with all provisions of Free Trade Agreements (FTA) such as the Trans-Pacific Partnership (TPP) Agreement and the Regional Comprehensive Economic Partnership (RCEP).
Đăng ký: VietNam News