Gyeongju: Vietnam and Singapore have formalized a new agreement on rice trade by signing a Memorandum of Cooperation (MOC) during the APEC Economic Leaders’ Week in Gyeongju, the Republic of Korea. This agreement marks a significant step towards enhancing economic collaboration between the two nations and aims at ensuring food security in the region.

According to Vietnam News Agency, the MOC was signed by Vietnamese 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. The agreement is expected to strengthen ties and promote stability in the regional rice market, benefiting both countries.