Singapore is known as a well-experienced country in joining WTO and it is now developing rapidly. Beyond the basic advantages of fast, strongly and stably developed economy, Singapore always pays attention to infrastructure development, and dignifies the matter of copyright protection. Thus, foreign companies feel secured in this stable business environment. At the moment, there are over 700 multinational corporations which locate their official office on Singapore.

Singapore is the collective place for all products before they are distributed to all over the world. It is also able to consume on the premises a large volume of goods, such as rice, coffee, aquatic products, handicrafts, etc. However, Singapore is not an easy-to-access market. Goods in this market must comply with business laws in order to ensure the quality of products and benefits of consumers. Fresh or processed vegetable and fruit, for example, are all checked by Agri-Food & Veterinary Authority of Singapore (AVA) in terms of license granted to first suppliers, or periodic check of imported source of goods. The Government strictly banned importing second-hand goods for domestic consumption (except for transfer of border gate goods). Under-standard goods which had been imported must be re-exported or destroyed.

Vietnamese products which are possibly exported to Singapore include crude oil, rubber, coffee, peanut, cashew nuts, beans of all kinds, tea, vegetable, wooden goods, pottery, ready-made clothes, tin, bird’s eggs, seafood, etc.

In the first six months of 2007, Vietnam exports to Singapore reached 979,044 thousand US dollars, increased by 61.81% year on year.

At present, Singapore is the location of over 5,000 multinational and international companies which have potential of capital, technology, network of world-wide partners. In doing business with these companies, Vietnamese enterprises should ask for the business registration issued by the Registration Department through which their legal entity, registered capital, line of business is clearly acknowledged before signing the contracts. Vietnamese enterprises should also do business through appropriate mediators who can provide market information, advice on trading plan, etc.

To promote exports to Singapore, in the coming time Vietnam needs to establish more exhibition rooms in Singapore to introduce its goods to customers because there are not only local entrepreneurs but also western and other countries’ customers.