Sunday, 22 October 2017 12:11 GMT
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Singapore's F&B exports to GCC see fast growth

(MENAFN - Khaleej Times) With Singapore food and beverage exports to the GCC continuing to grow, the country has the strongest presence on record at the exhibition, which will take place at the Dubai World Trade Centre from February 23 to 27, 2014. Themed 'Best in Asia,' the Singapore Pavilion is organised by the Singapore Food Manufacturers' Association with the support of International Enterprise (IE) Singapore



According to IE Singapore, the government agency promoting the overseas growth of Singapore-based enterprises and international trade, the recently-ratified GCC-Singapore Free Trade Agreement (GSFTA) is set to open up more opportunities for Singapore companies in the GCC, a significant market for its F&B industry. The GSFTA is the first free trade agreement between the GCC and a non-Middle East country



The GCC is now the 12th largest destination for Singapore F&B exports globally and its largest export market for coffee and spices. Over the last five years, Singapore F&B exports to the GCC have grown at an annual rate of five per cent, reaching $238 million in 2013



Lester Lu, regional director in Dubai for IE Singapore, said: "The UAE remains the top export market for Singapore F&B companies, accounting for 46.5 per cent of Singapore's exports to the GCC. With the ratification of the GSFTA, the mutual recognition of Halal standards and enhanced price competitiveness of products, this will contribute to the continued growth of Singapore's F&B exports.


Singapore's F&B exports to GCC see fast growth