Conference looks for ways to boost exports to Singapore

HCM City (VNA) – Valuable information to enhance exports to Singapore was shared among experts and businesses at a seminar held by the Ho Chi Minh City Investment and Trade Promotion Centre (ITPC) in the southern hub on June 25.

ITPC Director Pham Thiet Hoa said that besides a potential market for Vietnamese farm produce and processed food, Singapore is an international service hub, and a gateway for made-in-Vietnam products to be known among world’s leading retail giants, hotels and restaurants as well as foreign importers.

Vietnam is currently among the top 15 trade partners of the neighbouring country, with a total export revenue to the market reaching 3.46 billion USD in 2018.

As many Singaporean businesses are seeking to purchase food, garment and textiles and wood furniture for domestic distribution and re-export to other markets, Vietnamese firms boast huge opportunities to develop its export markets in the coming time, he stressed.

Meanwhile, Leon Cai, who is in charge of commercial affairs at the Singaporean General Consulate in Ho Chi Minh City, said Vietnamese businesses can enhance strategic cooperation with Singaporean partners to nudge their products closer to the world, explaining that Singapore is one of the largest consumption markets across the five continents.

Participants also pointed out food safety and hygiene as a major barrier for Vietnamese firms while selling products to the Singaporean market. Many potential goods failed to enter the market as they are not qualified in terms of packaging and instruction for use.

Besides giving out detailed updates of Singapore’s policies and market, participants also shared experience in promoting the efficiency of value chain to reduce logistic costs.

Support packages for exporters were tabled at the event as well.-VNA