37 European F&B Companies On High-Level Business Mission To Southeast Asia

  • Tuesday, 08 November 2016 00:00
  • Published in Business News
  • Read 1179 times

45 representatives from 37 food and beverage companies from over 16 European Union (EU) Member States from Belgium to the UK went on a regional business promotion tour to the Singapore, Hanoi, Ho Chi Minh City, and Jakarta.

The delegation to Singapore represented a diverse set of companies and associations from agricultural and food and beverage products from fruits and vegetables to fresh meat, poultry, processed foods, dairy products and wine and spirits.

Singapore is the EU’s 17th largest global trading partner in terms of goods, making it the largest among ASEAN countries. In 2015, total EU-Singapore trade in goods grew by 7.7 percent in 2015, reaching €48.6 billion (US$53.7 billion) while trade in services grew by 15.4 percent amounting to €36.1 billion (US$ 39.9 billion).

Additionally, more than 10,000 EU companies are established in Singapore and use the country as a hub to serve the Pacific Rim.

"Our strong performance has enabled the EU to confirm its position as one of Singapore's most important trade partners and the city-state's foremost investor," says Dr Michael Pulch, the EU ambassador to Singapore.

To further understand the local market, the delegation participated in a local business seminar, which focused on market access, local rules and regulations. Additionally, a business-to-business matchmaking event was held where EU producers met Singaporean importers, distributors and retailers to discuss opportunities for future collaboration.

Dr Pulch called this a step forward in deepening EU-Singapore cooperation in the region’s fast-growing food and beverage sector. "Singapore serves as an important hub for European food and beverage exports to the broader Southeast Asian region," he said.

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