Singapore and Viet Nam have pledged to strengthen cooperation on trade, energy security and supply chain resilience as concerns grow over the impact of the ongoing Middle East conflict on the global economy.
Singapore, June 2026: Singapore’s Minister-in-Charge of Energy and Science & Technology, Dr Tan See Leng, and Viet Nam’s Minister of Industry and Trade, Dr Le Manh Hung, have issued a Joint Statement on Supply Chain Resilience, reaffirming their commitment to safeguarding trade flows, energy security and regional economic stability amid escalating tensions in the Middle East.
The two ministers expressed serious concern over the ongoing conflict and its implications for global peace, stability and economic growth. They noted that the crisis has had far-reaching consequences beyond the Middle East, particularly affecting global energy markets and international supply chains.
Recognising the growing economic relationship between the two countries, which recorded merchandise trade worth US$31.8 billion in 2025 according to Singapore statistics, both sides pledged to work closely together to manage the impact of external disruptions on their economies and the wider region.
The ministers stressed the critical importance of keeping global trade routes and energy corridors open. They reaffirmed support for freedom of navigation and overflight, as well as the right of unimpeded transit passage in accordance with the United Nations Convention on the Law of the Sea (UNCLOS).
Singapore and Viet Nam also underscored ASEAN’s commitment to strengthening regional trade and supply chain connectivity through improved trade facilitation and lower logistics costs. Both countries pledged to keep markets open and connected, while ensuring that airports, seaports and critical trade infrastructure remain operational to minimise disruptions to trade flows.
The joint statement highlighted the importance of diversifying sources of trade and investment to support businesses, including micro, small and medium enterprises (MSMEs). The ministers reaffirmed support for the effective implementation of ASEAN’s free trade agreements, the Regional Comprehensive Economic Partnership (RCEP), and the timely conclusion of the ASEAN Digital Economy Framework Agreement (DEFA) within the year.
Both countries also committed to swiftly approving and ratifying key ASEAN agreements, including the ASEAN Framework Agreement on Petroleum Security (APSA) and the upgraded ASEAN Trade in Goods Agreement (ATIGA), where possible, to strengthen the region’s resilience against future economic disruptions.
As part of their commitments under the upgraded ATIGA, Singapore and Viet Nam pledged to refrain from imposing trade-restrictive non-tariff measures and to roll back measures that are inconsistent with World Trade Organization (WTO) obligations and other relevant trade agreements. They also agreed to improve information sharing, consultations and coordination on emergency procurement and transportation of essential goods and energy supplies during times of crisis.
Food security was identified as another key area of cooperation. Both countries pledged to expedite the implementation of their Memorandum of Cooperation on Rice Trade and acknowledged the importance of avoiding unnecessary restrictions on rice exports and imports, given the commodity’s critical role in regional food security.
Source: MTI
