Iranian business delegation here to discuss tie-ups with Singapore companies
Singapore, 7 August 2008 – The Singapore Business Federation today hosted a “Business Opportunities in Iran Seminar & Business Matching Session” in conjunction with the visit of a 18 -strong business delegation led by H.E Dr Mohammad Nahavandian, President of the Iran Chamber of Commerce, Industries and Mines to Singapore from 6 to 9 Aug 2008. Dr Nahavandian and the delegation comprising prominent heads of Iranian companies representing the Tourism and Hotels, Oil and Gas, Transport, Petrochemical, General Trading, Construction, Agro-industries Trading, Services and Retail sectors are here to explore opportunities for two-way trade and investment with their Singapore counterparts.
This is the fourth Iranian delegation that SBF has received since the establishment of its Middle East & North Africa Desk in 2004. The previous visits included a business mission led by H.E. Mohammad Shariatmadari, Minister of Commerce and delegates from the Iranian Oil, Gas and Petrochemicals Union amongst others.
The seminar provided an overview and update of the Iranian economy, and business dynamics as well as showcased the emerging opportunities to the Singapore business community. Speakers from the Iranian delegation provided expert advice on key concerns and issues pertaining to the business environment in Iran. The business matching session enabled delegates from both sides to meet potential partners, understand each other’s business needs and explore possible business tie-ups. Iran was Singapore’s 30th largest trading partner in 2007 with several Singapore companies already based there.
With globalization and increased competition, SBF, as an apex business chamber, has been proactively assisting Singapore companies to venture overseas to seek opportunities in new and emerging markets. The emerging markets in the Middle East have been one of the key focus areas of SBF. In the first half of 2008 alone, SBF has initiated three well received seminars and roundtable sessions and led two business missions to the Middle East and Africa.
“The current Middle Eastern Countries have embarked on an economic diversification program, thus reducing their heavy dependence on oil and gas revenue. This diversification program has brought about many opportunities in many key industries.” Mr Tang Kin Fei, Council Member, Singapore Business Federation, said.
Singapore Business Federation remains committed to play a pivotal role in facilitating Singapore companies’ market development efforts into the emerging Middle East region. More business-to-business exchanges will be organized by the Singapore Business Federation to drive further collaboration between business communities in Singapore and the Middle East.
While in Singapore, Dr Nahavandian will also call on Senior Minister Goh Chok Tong, Minister for Foreign Affairs George Yeo, Minister for Trade and Industry Lim Hng Kiang and Senior Minister of State for Transport Lim Hwee Hua. SMS for Foreign Affairs Zainul Abidin Rasheed will host Dr Nahavandian to lunch. Dr Nahavandian is also scheduled to deliver a closed-door talk at the Middle East Institute (MEI).
About Singapore Business Federation (SBF)
For media queries please contact:
Gerald De Cotta, Tel: 6827 6896
Rachael Fong, Tel: 6827 6874