SINGAPORE – Singapore is expected to become an important gateway for Vietnamese coffee producers to increase their presence in Asian emerging markets and reduce their dependence from traditional markets like Europe and the US.
Vietnam’s coffee exports to Singapore record an average growth of 37 percent per year, Trade Counselor at the Vietnamese Embassy in Singapore Nguyen Viet Chi said on the sidelines of the 2016 International Coffee & Tea Industry Expo (ICT) in Singapore on March 3-5.
According to Singapore’s Department of Statistics, exports of Vietnam’s coffee and tea to Singapore were valued at 88 million USD in 2015, making up 21 percent of the country’s imports on the two products.
The figures illustrate that Vietnamese firms are expanding exports to Singapore – a trade hub in Asia and the world.
The ICT hosted 140 pavilions from 20 countries and territories. The event creates a good chance for Vietnam to introduce its potential products to foreign businesses and seek partners.
