Vietnam and Singapore have potential and advantages to promote fisheries cooperation, industry insiders said at a conference connecting fishery businesses of Vietnam and Singapore in Ho Chi Minh City on June 25, the Vietnam News Agency (VNA) has reported.

According to the news agency, the event was organized by the Vietnam Association of Seafood Exporters and Producers (VASEP), the Vietnam Trade Office in Singapore and Ho Chi Minh City’s External Affairs Department.

VASEP Deputy General Secretary To Thi Tuong Lan was quoted by VNA as telling the conference that Vietnam's fisheries industry is focusing on developing high-added-value processed products.

She noted that Vietnam has the advantage in farming, processing and exporting shrimp and tra fish. Meanwhile, with a large number of tourists, Singapore has an increasing demand for high quality products.

Although Singapore is a small consumer market, it is an important gateway for Vietnamese goods in general and seafood in particular to reach many other countries in the region and the world, she said.

While Vietnam has strengths in production and processing, Singapore businesses have very good international trade skills, she added.

Moreover, both Vietnam and Singapore are members of many free trade agreements in the region and the world, and their close geographical locations are very convenient for transportation. Therefore, Vietnamese businesses can take advantage of trade cooperation with Singaporean businesses to access other markets, Ms. Lan explained.

Mr. Cao Xuan Thang, head of the Vietnam Trade Office in Singapore, was quoted as saying that Vietnamese seafood is becoming more visible in Singapore and has received good feedback from consumers there.

According to the official, once Vietnamese seafood businesses can connect with Singaporean partners, Vietnamese products have great opportunities to reach other markets.

At the conference, President of Seafood Association Industries Singapore (SIAS) said that the cooperation of Singaporean and Vietnamese businesses will not only contribute to increasing trade turnover between the two countries but also promote the development of seafood business and distribution networks in the region, helping Vietnamese seafood reach more markets in the world.