Singapore - Potential market for Vietnamese agricultural products

Over 20 Vietnamese enterprises participated in introducing and displaying their products at the Asia-Pacific Food Fair (APFE 2014) held in Singapore.

The Trade Office of the Vietnamese Embassy in Singapore said that APFE 2014, taking place from November 21-25, is a good opportunity for Vietnamese businesses in the agricultural and aquatic products sector to introduce and promote their products, as well as directly meet, exchange and negotiate with Singaporean and foreign partners, thereby further promoting exports to the Singapore market in the coming time.

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Ms. Nguyen Viet Chi, Trade Counselor of Vietnam in Singapore, said that in the first 10 months of this year, two-way trade turnover between Vietnam and Singapore reached nearly 17 billion SGD (about 13.6 billion USD), equivalent to the level of the whole year of 2013, thereby making Singapore the largest trade partner of Vietnam in ASEAN, commensurate with the strategic partnership between the two countries.

Vietnam's agricultural and aquatic products currently account for 10% of Singapore's import market share in this region, showing the great potential of this market for Vietnamese businesses trading in this product line.

According to Mr. Steven Ng, Head of the APFE 2014 Organizing Committee, Singaporeans are quite picky when it comes to food, with the current trend being high quality food at reasonable prices. If Vietnamese products can meet this demand, Singapore will be a potential market.

Besides, Singapore is also a major import-export center in the region and it is likely that Vietnamese agricultural products can be sold in many other countries.

According to the organizers, it is expected that there will be about 600,000 visitors coming to visit and trade during the 5-day fair.

According to VTV online