The Singapore Business Federation (SBF) and UPS Singapore (NYSE: UPS) will jointly organize a series of seminars and workshops to educate Small and Medium Enterprises (SMEs) on the benefits and resources available for internationalization.
The first joint project was the SBF-UPS Trade Seminar, “Opportunities for SMEs arising from Singapore’s FTAs” was held at SBF on Friday, October 7, 2016. Nearly 100 participants from local SMEs and Singapore-based organizations attended the seminar that examined the current trends and the changes in regional supply chains, and learned how to make these agreements work for them. The speakers at the event included Dr Deborah Elms from the Asian Trade Centre, Ms. Lin Shiumei from UPS, Mr. Kumaran Pillai from Apple Seed Pte Ltd, and Mr. Gary Lee from Tee Yih Jia Food Manufacturing Pte Ltd.
“With several FTAs in the pipeline, including the Trans-Pacific Partnership (TPP), the agreement on the ASEAN Economic Community and the Regional Comprehensive Economic Partnership (RCEP), SMEs in Singapore are poised to benefit from greater opportunities overseas. The private sector can play a big role in supporting the implementation of these agreements,” said Michelle Ho, Managing Director of UPS Singapore. “UPS is pleased to collaborate with SBF and share with SMEs our insights on how small businesses can leverage these FTAs as a tool for their internationalization plans.”
As a leading global supply chain and logistics specialist, UPS has the expertise and network to help Singapore-based SMEs venture into new markets and navigate the rules of international trade.
Mr. Ho Meng Kit, CEO of SBF, said, “SMEs are the building blocks of Singapore’s economy, constituting 99 per cent of the country’s enterprises and contributing to nearly half the GDP. One way to keep them viable and successful is to help them make the most of Singapore’s free trade pacts. With 21 bilateral and regional Free Trade and Economic Partnership Agreements with 32 trading partners, Singapore has amongst the most trade agreements in the world. This broad range of agreements will be increasingly critical for Singapore’s SMEs as they grow beyond Singapore and extend their reach across more overseas markets. SBF looks forward to growing its partnership with UPS to help SMEs internationalize and remain competitive.”
SBF and UPS will continue working together on a series of seminars and workshops to educate SMEs on FTAs and other cross-border trade and investment issues. Two more seminars and workshops, focusing on the best supply chain practices in the technology as well as retail and e-Commerce industries are planned. These outreach programs will help raise awareness among SMEs and encourage them to take the leap and expand into new markets.