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.
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