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Council for International Trade and Commerce South Australia Inc

CITCSA Flash Archive

 'Meet the Faces Behind the Places' Interview for April 

Mr Ernie Goh, President of the Australia Singapore Business Council SA (Inc), spoke to Sarah Newman, Marketing Officer at CITCSA on why Singapore is offering big trade opportunities for SA businesses.  

What opportunities exist for exporters in Singapore at the moment?
The food and beverages sector offers a lot of opportunity for SA businesses at the moment. Supermarkets and specialist retailers are very interested in Australian produce, and the food services sector, which includes hotels, restaurants, airline catering and ship handling, is chewing up Australian products at a rapid rate. For example, ChangiAirport has a network of 83 scheduled airlines. While the product categories demanded by the food services sector is more specific, it is far more significant in size than the retail sector. Domestic manufacturing is also a great market to get into, due to Singapore’s enormous production of F&B products coupled with a need to import virtually all raw materials. In addition to the food and beverages opportunities, there are also opportunities in the fields of education, biotechnology, defense, manufacturing, R&D and Intellectual Property Management, just to name a few.

What market factors are pertinent?
The Singapore economy is very robust; the nation posted a GDP of 7.9% in 2006. Consumer purchasing power is extremely strong, with a projected average wage increase (over and above inflation) of 2.1% for 2007. It really is a fantastic market for gourmet and specialty consumer goods. The Singapore-Australia Free Trade Agreement doesn’t hurt, either! Singapore is a vibrant, global nation, and will be hosting the F1 Night Race this September which is the first in the world. Two Integrated Resorts (IR) are being built, not to mention the recently completed Singapore Flyer (165m), towering the London Eye (135m) as the tallest observation wheel in the world.

What difficulties might an exporter encounter in Singapore?
Difficulties in trading with Singapore are minimal. The Singapore-Australia FTA was one of the easiest to negotiate, as Singapore is a very business-friendly environment, which is familiar to all Australians.

How can the Australia Singapore Business Council (SA) assist exporters in overcoming these hurdles?
As in all markets, networks are extremely vital, and Singapore is not different. The ASBC has extensive networks with organizations such as the Economic Development Board of Singapore, and local government agencies. Our relationships with these organizations will put Australian businesses in touch with the right links without wasting important resources and time.

For more information, contact ernieg@winedistributor.com.au