Over 50 business leaders from 27 Singaporean SMES participated in the bi-annual German-Singaporean Business Forum (GSBF) 2014 in Germany, the largest delegation for GSBF, led by SPRING Singapore (SPRING). The SMEs benefitted from the series of company visits, business matching and networking seminars to enhance collaborations with German companies. The week-long programme culminated in a full-day forum in Munich where the Singapore delegation was joined by close to 70 German participants.
(PressReleasePoint) SPRING Singapore Leads Delegation of 50 Business Leaders To The German-Singaporean Business Forum 2014
New MOU signed at German-Singaporean Business Forum to deepen partnerships and opportunities between Singapore and Germany
Over 50 business leaders from 27 Singaporean SMES participated in the bi-annual German-Singaporean Business Forum (GSBF) 2014 in Germany, the largest delegation for GSBF, led by SPRING Singapore (SPRING). The forum focused on fostering partnerships in three key sectors: Precision Engineering, Medical Technology and Clean Technology. There were also three concurrent industry-specific programmes organised for the delegation. The SMEs benefitted from the series of company visits, business matching and networking seminars to enhance collaborations with German companies. The week-long programme culminated in a full-day forum in Munich where the Singapore delegation was joined by close to 70 German participants.
The delegation spent the first part of the week-long programme visiting prominent German companies including Siemens Healthcare, Sennebogen, Solarion and more, across the various cities in Germany. At the full-day GSBF in Munich, the delegates gained insights on the latest market trends and technologies from presentations by industry experts in Germany. There was also a panel discussion on “Forging Meaningful Partnerships to Address Market Opportunities in Asia” where panellists from both German and Singaporean companies share their strategies for mutually beneficial collaborations. In his opening address at the forum, His Excellency, Mr Jai Sohan, Ambassador to Germany from the Republic of Singapore also urged more German companies to collaborate with SMEs from Singapore.
GSBF was established to promote business and capabilities partnerships between German and Singaporean SMEs. Mr Philip Yeo, Chairman for SPRING and Co-Chairman for the GSBF said, “We want to help our SMEs develop win-win business opportunities and deepen their partnerships with German companies. The economic bilateral relations between the two robust economies have grown over the years and in 2013, Germany was Singapore’s largest trading partner in the European Union – accounting for 21.7% of our trade with the EU. Within ASEAN, Singapore is also Germany’s top trading partner.”
“We’ve consistently had positive outcomes from GSBF. It is encouraging to see our local SMEs developing a tenacious and ambitious attitude; setting their sights outside of Singapore. We hope this year, with our largest delegation to date, and specialised tracks organised for the SMEs, we are able to seed more successful partnerships from the trip,” added Mr Yeo.
Cementing Future Business Opportunities between Singapore & Germany
Dr Axel Stepken, Chairman of TÜV SÜD AG and Co-Chairman for GSBF, said, “To most, economic deals are sealed based on a strong business imperative, but to those in the know, trust is often a make-or-break quality.
Over the years, GSBF has been instrumental in fostering that trust, helping German companies understand Singapore and what Singapore companies have to offer. While vastly different in size, our common traits of thoroughness, reliability and being results-driven will help to develop many synergies between the German Mittlestands and Singapore SMEs.”
To facilitate more collaboration between Singapore and German companies, International Enterprise (IE) Singapore signed a Memorandum of Understanding (MOU) with Composite Cluster Singapore (CCS) Pte. Ltd. during the GSBF. With the MOU, IE Singapore will identify projects to help CCS build up its technical capabilities and establish a global track record for the carbon composites sector. The agency will also link CCS with technology partners such as foreign enterprises and research institutes to facilitate project development. The support will focus on countries in Europe, with a particular emphasis on Germany.
Mr Satvinder Singh, Assistant CEO of IE Singapore said, “To help Singapore companies grow overseas, IE Singapore constantly identifies new global trends with relevant business opportunities. We saw the potential of composites sector three years ago, and started preparing our manufacturers by upgrading their technical expertise through partnerships and engaging prospective customers. Our MOU with CCS is another step forward. CCS is forming two partnerships today with German companies, iNDTact and Munich Composites, which attests to the relevance of composites to Singapore manufacturers.”