1. Bilateral Cooperation between Italian and Singaporean SMEs
ROUND TABLE DISCUSSION ON
ITALY-SINGAPORE BUSINESS & INVESTMENT OPPORTUNITIES
Bilateral Cooperation between Italian and Singaporean SMEs
PRESENTED BY:
TED TAN, DEPUTY CHIEF EXECUTIVE, SPRING SINGAPORE
11 DECEMBER 2013

2. Bilateral Trade and Investment Relations
Bilateral Cooperation between Italian and Singaporean SMEs
Bilateral Trade and Investment Relations
In 2012, Italy is Singapore’s 6th largest trading partner in the EU
Total bilateral trade at S$5.48 billion
Italy is Singapore’s 12th largest EU investor
Total foreign direct investment into Singapore valued at S$484 million at end-2011
327 Italian companies registered in Singapore
Primarily in the services, electronics and chemical sectors
As of end-2011, Singapore’s direct investments into Italy stood at approximately S$222 million
Singapore’s investments in Italy are concentrated in the financial services and manufacturing sectors

3. MOU on the Cooperation of SMEs
Bilateral Cooperation between Italian and Singaporean SMEs
MOU on the Cooperation of SMEs
Signed between SPRING Singapore and the Italian Ministry of Economic Development on 24 July 2013
In effect for a period of 2 years
To encourage and forge strategic business collaborations and partnerships between Italian and Singaporean SMEs
SPRING had supported the Italian Trade Commission in a series of trade events (Cosmetic, Jewellery, Eyewear) from Oct – Nov 2013
Invited Singaporean SMEs and industry associations to attend the events
Provided opportunities for Singaporean SMEs to network, share ideas and explore potential collaborations with the Italian retailers

4. Successful Collaborations
Bilateral Cooperation between Italian and Singaporean SMEs
Successful Collaborations
Singapore has always had strong engagement with Italy in the furniture industry.
Singapore Furniture Industries Council (SFIC) has been actively helping Singaporean SMEs partner with world-class Italian furniture players and designers.
2012: A group of Italian furniture retailers were invited to Singapore to attend the International Furniture Fair.
2013: An inaugural showcase of Singapore’s finest furniture designs and collections at the Milan Design Week in Italy.
Singaporean SMEs, such as XTRA and Proof Living, have partnered with Italian counterparts by distributing their brands to South East Asia and Asia.

5. Bilateral Cooperation between Italian and Singaporean SMEs
New Opportunities
Cultivate new Italy-Singapore SME partnerships beyond the furniture industry
Other opportunities stated in the MOU include food, fashion and related industries, lifestyle products, conventional and alternative energies, as well as industrial machineries
SPRING Singapore, IE Singapore, EDB can help create such new opportunities
Identifying suitable local partners for Italian companies
Facilitating exchanges of know-how and experts
Creating networking opportunities between local and Italian companies
Organising business development and study missions to Italy

6. Singapore as a Gateway to Opportunities in ASEAN
Bilateral Cooperation between Italian and Singaporean SMEs
Singapore as a Gateway to Opportunities in ASEAN
Singapore’s strategic geographical position, cultural proximity and strong connectivity with ASEAN
Singapore government’s pro-business policies and infrastructure
World Bank has ranked Singapore as “The world’s easiest place to do business” in 2012
EU-Singapore Free Trade Agreement (EUSFTA)

7. Thank You