August 27, 2015

French beef to enter Singapore

Singapore has opened its doors to beef from France, in a move welcomed by French agriculture minister Stéphane Le Foll.

French State Trade Secretary, Matthias Fekl, and ambassadors of a number of countries, including Saudi Arabia, Brazil, China and Singapore, had met at the end of July.

French officials said the meetings were held to boost the prospects for France's beef trade with other countries.

The move was hailed by Le Foll as the growing middle class in Singapore will provide a lucrative market for French beef exporters.

Singapore had closed a trade deal with the EU which is expected to come into force early next year.

The deal follows a similar agreement with Vietnam this month.

The two deals are aimed at ensuring EU producers meet growing demand for their products in Asian markets as well as diversify export destinations after the Russian ban.

For France, while its market for beef exports is growing, its domestic market for beef imports is shrinking due to falling consumer demand.