On September 4, 2024, the Vietnamese Embassy’s Commercial Office in Singapore, together with the Vietnam Association of Seafood Exporters and Producers (VASEP), the Singapore Seafood Industries Association (SIAS), the Asia-Africa Market Department (AAMD), and the Ministry of Industry and Trade, held a trade promotion event for Vietnam’s seafood industry at Marina Bay Sands Singapore.
This activity is part of the 2024 Economic Diplomacy Program, designed to efficiently promote industrial investment in Vietnam, boost trade, enhance brand recognition, and foster connections between Vietnamese and Singaporean businesses. The program aligns with Directive No. 15-CT/TW issued by the Party Secretariat on August 10, 2022, aimed at driving economic diplomacy for national development until 2030, and supports the Government’s action plan to implement this directive. It plays a vital role in expanding international integration, attracting external resources for Vietnam’s socio-economic development, and strengthening economic cooperation, export promotion, and foreign investment attraction.
As a regional and global trading hub, Singapore offers promising opportunities for Vietnamese seafood products. The country serves as an international service center, providing access to retailers, hotel chains, multinational restaurants, and importers, especially for frozen and processed seafood. Promoting the international visibility of Vietnamese products to increase their market value is crucial. As such, it is essential to integrate trade promotion efforts with exhibitions, product displays, and initiatives to boost industrial investment, trade, brand marketing, and product connections to expand the presence of Vietnamese goods.
According to the Singapore Business Administration, trade between Vietnam and Singapore reaches around SGD 110 million annually, making up 9% of Singapore’s market share. Vietnam’s seafood exports have surpassed those of Japan, ranking as the fifth-largest exporter to Singapore in the first two quarters of 2024, with total exports reaching nearly SGD 52 million, up 0.81%, and holding a 9.45% market share.
The SEAFOOD EXPO ASIA 2024 brings together participants from 15 countries and territories, with close to 360 businesses attending. Sixteen Vietnamese seafood companies are showcasing their products, and the event is expected to draw approximately 9,000 visitors and partners.
VFM
