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 signed a Memorandum of Cooperation (MOC) on rice trade. Photo: VGP

The signing ceremony was attended by Vietnamese Minister of Industry and Trade Nguyen Hong Dien and Singapore’s Minister for Sustainability and the Environment and Minister-in-Charge of Trade Relations Grace Fu, during the 32nd APEC Economic Leaders’ Week in Gyeongju, the Republic of Korea.

The MOC serves as a foundation for promoting stable and sustainable rice trade between the two countries, contributing to bilateral and regional food security by avoiding unnecessary trade restrictions. Under the MOC, Vietnam will facilitate the export of an agreed quantity of rice to Singapore, based on the city-island state’s specific demand.

This is Singapore’s first MOC on rice trade with a partner, especially Vietnam, one of the region’s major rice suppliers, Minister Grace Fu stressed.