SINGAPORE - The Singapore-Zhejiang Economic and Trade Council (SZETC) marked a new milestone on Wednesday morning with the launch of the Tasty Singapore Food Product Centre in Yiwu, Zhejiang.
The initiative by the Singapore Food Manufacturers' Association is supported by International Enterprise (IE) Singapore, and showcases Singapore food products within the Yiwu International Commodity Trade Mart, the world's largest commodity wholesale market.
The opening ceremony was officiated by Mr Lim Hng Kiang, Singapore's Minister for Trade and Industry, and Ms Liang Liming, vice governor of Zhejiang Province and co-chairman of the SZETC.
Mr Yew Sung Pei, assistant chief executive officer of IE Singapore, noted at the ceremony that trade and investment between Singapore and Zhejiang has been on the rise.
Bilateral trade increased by 14 per cent to US$1.22 billion (S$1.52 billion) in the first quarter of this year.
Singapore's cumulative actual investments in Zhejiang reached US$3.88 billion as of end March.
Many Zhejiang companies have also chosen Singapore as a base for their regional expansion, with more than 120 Zhejiang companies setting up in Singapore to date.
"With the Tasty Singapore Food Product Centre in Yiwu, our companies can now leverage this platform to raise awareness and promote Singapore food products to the whole of China, and explore even more opportunities," Mr Yew said.
The centre currently features a group of 20 food and beverage companies in products like cooking oils, desserts, frozen foods, instant beverages and sauces.