Singapore F&B companies attending Gulfood 2012 are expecting to generate more than US $14 million worth of deals from the show.
Government agency International Enterprise Singapore said that F&B exports to the GCC reached US $286 million, thanks to almost US $14 million in deals from Gulfood 2011, and expect the figure to increase this year.
One reason for this growth is down to the UAE’s demand for South East Asian food, with an annual compounded growth rate of 11%, meaning Singapore food exports to the UAE reached US $123 million.
Lester Lu, International Enterprise Singapore’s regional director for the UAE, said: “The GCC region has become Singapore’s ninth largest market for F&B exports, with the UAE, Saudi Arabia and Kuwait among the top performing countries. Most Singapore F&B companies in the Middle East enter the market via the UAE as it is a distribution hub for the region.”
He added: “Gulfood has proven to be a key enabler of Singapore’s growth in F&B exports to the GCC region. In fact, it is recognised as the primary selling platform for any Singapore food company wanting to tap this market. In addition to the transactions made onsite, our exhibitors are able to cultivate relationships with distributors and negotiate annual or even longer term sales contracts.”
The Tasty Singapore pavilion, organised by the Singapore Food Manufacturers’ Association, will be in Halls 7 and 9, showcasing the country’s latest flavours, trends and food innovations.
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