Dubai, UAE: With Singapore’s food and beverage exports to the GCC continuing to grow, the country’s participation in Gulfood 2015, taking place from 8 – 12 February 2015 at Dubai World Trade Centre (DWTC), serves as a crucial factor in facilitating trade between Singapore and the GCC.
Offering a repertoire of high quality brands that stand on par with the highest international standards, 47 Singapore F&B companies will showcase their products at this year’s 20th landmark edition of the world’s largest food and hospitality show.
International Enterprise (IE) Singapore, the government agency promoting the overseas growth of Singapore-based enterprises and international trade, believes that Gulfood, and the emirate of Dubai, provide the perfect platform for Singapore’s food manufacturers to launch their products and strengthen their foothold in the Middle East, Africa and South Asia. Effective on 1 January 2015, Dubai Customs enacted the GCC-Singapore Free Trade Agreement (GSFTA), which provides full exemption of Singapore’s customs duties for GCC imports and qualifies approximately 93.9 percent of all Singaporean goods exported to the GCC for tariff-free concessions.
Trade of food between UAE and Singapore amounted to US$183 million (S$246.3 million) in 2014, split between US$18 million (S$24.2 million) in food exports to Singapore and US$165 million (S$222.1 million) in imports. In light of these recent favourable economic developments, the figures are expected to increase in the coming years.
“F&B exports to the GCC remain strong, growing at a compounded annual rate of 10 percent over the past five years and reaching US$291.9 million in 2014, up from US$200.4 million in 2010. With Gulfood as a key platform to explore regional opportunities, we expect a greater strengthening of ties between Singapore’s F&B companies and the GCC region,” Budiman Mohamed Salleh, Centre Director for IE Singapore, Abu Dhabi, said.
Attracting global and regional industry players and government officials, Gulfood has an established reputation of delivering return on investment to its exhibitors, particularly as the UAE’s food and drink imports are predicted to increase by 28.3 percent between 2014 and 2018.
Recognising Singapore’s passion for food, commitment to quality, adherence to international safety standards and similarity to regional Halal standards, top hotels and food chains in the region are already sourcing and incorporating numerous Singaporean products into their menus. The dynamism and diversity of the products, tastes and flavours allows industry professionals to create delicious international food offerings. Through their participation at Gulfood, more Singapore F&B brands can be introduced to key decision makers in the region.
“The mutual recognition of the Singapore MUIS Halal Standards (SMHS) is a vital step in opening doors for Singapore companies that are keen to grow their presence in this region.
Singapore, Dubai, and the GCC in general, share a common bond – an ethnically diverse society and a deep love and passion for quality food. Being a cosmopolitan city, Singapore’s food producers are familiar with varied tastes and palates, including Western favourites and authentic Asian flavours. The participation of Singapore’s F&B brands at Gulfood presents an excellent opportunity to elevate the country’s food offering to the level of global cuisine in Dubai,” Budiman, added.
The Singapore Pavilion is organised by the Singapore Food Manufacturers’ Association (SFMA), with the support of IE Singapore. The Pavilion is located in Sheikh Rashid Hall of the Dubai World Trade Centre.