Media releases
Wednesday, 20 November 2002 - MVT149/2002
Trade Minister to Visit Singapore
Trade Minister Mark Vaile will visit Singapore from 22-23 November
to discuss with Singapore ministers implementation of the recently
finalised Singapore-Australia Free Trade Agreement (SAFTA).
Mr Vaile will meet Deputy Prime Minister Lee Hsien Loong and Minister
for Trade and Industry Brigadier General George Yeo.
"These discussions will provide a timely opportunity to review how
both Australian and Singaporean companies might best benefit from
the Agreement," Mr Vaile said.
"Singapore is Australia's largest trade and investment partner in
the Association of South East Asian Nations and our 7th
largest trading partner overall. Two-way trade in goods and services
was worth about $13 billion in 2001. The two-way investment relationship
continues to grow with Australian investment in Singapore worth about
$14 billion, and Singaporean investment in Australia worth about $40
billion.
"I am confident that the SAFTA will lead to an even closer trade
and economic partnership between our two countries."
Mr Vaile will join Minister Yeo in attending the annual Australian
Chamber of Commerce, Singapore President's Dinner where he will present
the Austrade-AustCham Export Awards to Australian companies which
have excelled in the Singapore market.
Mr Vaile will also look at export opportunities for Australian food
producers in both the Singapore marketplace and in the wider region.
"Australia already has an excellent reputation as a supplier of premium
food and beverages, but I believe there is scope for Australia to
do even more to meet the growing demands in Singapore and the wider
region for quality food products," Mr Vaile said.
Media Contact: Robyn Bain +61 02 6277 7420
Local Date:
Friday, 21-Nov-2008 16:16:31 EST
