GYEONGJU, South Korea – Singapore has inked an agreement with Vietnam to support the flow of rice to the island state.
It was signed by Minister for Sustainability and the Environment Grace Fu and Vietnam’s Minister of Industry and Trade Nguyen Hong Dien on the sidelines of the Asia-Pacific Economic Cooperation (Apec) leaders’ meeting in Gyeongju, South Korea, on Oct 30.
The agreement gives assurance that should Singapore need to request to purchase rice from Vietnam during periods of supply disruption, Vietnam would facilitate and not disallow the export, said a spokesperson from the Ministry of Sustainability and the Environment.
It lays a “solid foundation” for promoting stable and sustainable rice trade, contributing to strengthening bilateral food security, including avoiding unnecessary trade restrictions, both ministries said in a joint statement.
Ms Fu, who is also Minister-in-Charge of Trade Relations, said this is Singapore’s first such agreement with a trading partner, and Singapore is happy to have it with Vietnam, which is one of the island state’s largest source countries for rice.
She said: “As a country that imports over 90 per cent of our food, Singapore is not spared from global food supply disruptions.
“Securing global and regional partnerships is essential for ensuring a stable supply of rice for Singapore.”
Mr Dien said Singapore is one of Vietnam’s leading economic partners and an important market.
