SINGAPORE: Singapore and Thailand signed a rice trade agreement on Friday (Nov 7) that will strengthen food security for Singapore while creating export opportunities for Thai farmers.
The memorandum of cooperation was inked during Thai Prime Minister Anutin Charnvirakul’s first official visit to Singapore since taking office in September. It follows a similar deal inked with Vietnam last month.Â
Under the agreement, Thailand will support the sale of rice to Singapore on âmutually agreed termsâ upon request by the Singapore government. Both countries have also committed to keeping rice trade âopen, transparent and mutually beneficialâ, while avoiding âunnecessary restrictive measuresâ.
The deal was signed by Singaporeâs Minister for Sustainability and the Environment Grace Fu and Thailandâs Commerce Minister Suphajee Suthumpun. The exchange of the memorandum of cooperation took place in the presence of both prime ministers.
“This is a win-win agreement which will ensure a stable supply of rice for Singapore, while opening up new market opportunities for Thai producers,” said Singapore Prime Minister Lawrence Wong.
