Singapore set for major presence at CIIE
CHINA INTERNATIONAL IMPORT EXPO
A total of 350 representatives from more than 80 Singaporean companies will take part in the six-day China International Import Expo (CIIE) in Shanghai from Nov 5 — the largest delegation sent by an ASEAN country.
Covering a total of 1,425 square meters of exhibition area, the Singaporean companies — led by the Singapore Business Federation — will showcase their latest products and technologies in food and agriculture, logistics and transportation, finance and banking, education and medical services.
The Singaporean delegation will be taking the largest area in the trade service pavilion — around 1,050 square meters — during the CIIE, according to Teo Siong Seng, the federation’s chairman.
Well-established Singaporean companies such as DBS Bank, Raffles Medical Group and Singapore Airlines will take part in the expo.
The federation will also hold a China-Singapore trade and investment forum, as well as a business matchmaking meeting in partnership with Bank of China on Nov 6.
Deng Lei, assistant general manager of Bank of China Singapore branch, said that the federation had appointed it as the sole financial services partner during the CIIE. The bank will provide the Singaporean exhibitors with services including cross-border business matchmaking, remittances, tariff guarantee and e-loan services.
According to Teo, Singapore enjoys advantages in regional connection, technologies, multinational talents and its legal system, with which the Singa- porean companies can help their Chinese counterparts to explore the Southeastern Asian and global markets. Meanwhile, Singaporean companies will reach out to more thirdparty markets during the CIIE.
He added that both China and Singapore have been undergoing economic upgrading and transformation recently. Traditional industries in Singapore are transforming and they can learn from the successful experiences of their Chinese peers during the CIIE. Meanwhile, they can also make adjustment to their products and services to cater to the changing demand of Chinese clients, he said.
Loo Choon Yong, executive chairman of Raffles Medical Group, said that people in China will seek more personalized and comprehensive medical care as the nation deepens its healthcare industry reform. In this sense, the group is in a good position to “offer quality medical care of international standards to the Chinese population”.
Pek Ee Perh Thomas, managing director of Tai Hua Food Industries Pte Ltd, said that a large number of Singaporean food companies have established their brands in China in the form of joint ventures, franchises or corporateowned outlets. With the CIIE, Singaporean companies can help promote the Chinese food industry with the formers’ expertise in dining concepts, products and services.
Total bilateral trade volume between China and Singapore surged 17 percent year-on-year to S$137.1 billion ($99.6 billion) in 2017. Singapore’s exports to China jumped 21.7 percent year-on-year to S$74.6 billion by the end of last year, while imports from China increased 11.8 percent to S$62.6 billion.