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    Asian Automotive SMEs Meet in Singapore

     

     
     
    © International Trade Centre, International Trade Forum - Issue 2/2003

    ITC organized a pan-Asian buyers-sellers meeting for the automotive components sector (Singapore, December 2002), to promote trade linkages between firms from 12 Asian countries.

    Over 60 companies from South and South-east Asia, ranging from large diversified groups to entrepreneur-driven small businesses, participated in the meeting.

    Mr. Bilahari Kausikan, Permanent Secretary of Singapore's Ministry of Foreign Affairs, was the guest of honour at the opening ceremony. Mr. Kausikan stated that the buyers-sellers meeting was timely and provided SMEs with an ideal opportunity to network, develop effective marketing channels and thereby break into regional markets.

    One-to-one meetings facilitate deals

    Over two days, 105 representatives from Cambodia, China, Indonesia, India, Malaysia, Myanmar, Nepal, the Philippines, Singapore, Sri Lanka, Thailand and Viet Nam took part in 374 one-to-one meetings lasting half an hour each.

    By close of business, participants reported deals amounting to approximately US$ 2.2 million in total. The deals they negotiated included straightforward buying and selling, as well as representation, agency and joint venture agreements.

    ITC preparations

    Prior to the meeting, ITC conducted 15 supply and demand surveys, through national trade support institutions and consultants, to highlight opportunities in the participating countries; organized an e-discussion on two topics of relevance to the sector in the region; and fielded a marketing mission to nine countries. During the meeting, ITC's team of business facilitators and industry experts were on hand to assist participants to complete transactions successfully.

    For more information, contact Emmanuel Barreto, ITC Adviser on South-South Trade, at barreto@intracen.org