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United Kingdom : IE Singapore Partners EBRD To Explore Opportunities
Publish Date : 26-Sep-2013
The European Bank for Reconstruction and Development's (EBRD) medium to long-term outlook for emerging countries in Europe and central Asia like Kazakhstan, Poland, Russia and Turkey, remain positive despite current economic volatilities. Sir Suma Chakrabarti, President of EBRD, shared his optimism on the growth of these emerging markets and opportunities they present for Singapore companies at International Enterprise (IE) Singapore's Global Conversations held this morning.
Moderated by Mr Teo Eng Cheong, Chief Executive Officer of IE Singapore, the business dialogue with Sir Suma engaged 25 C-level representatives from Singapore companies spanning the financial, food, technology, trade and urban solutions sectors. In addition to the EBRD's economic outlook, discussions revolved around current business trends as well as issues pertinent to Singapore companies in emerging Europe and central Asia. They include market opportunities, challenges and how IE Singapore and EBRD's close partnership can mitigate risks for companies in these emerging markets.
Sir Suma stressed that the economic fundamentals of many emerging countries in Europe and central Asia have improved since the global economic crisis in 2008 / 2009. Improvements in the Eurozone, efforts by the governments and proximity to the European Union (EU) market are advantages that will help sustain the stability of these emerging markets.
IE Singapore and EBRD sign MOU to deepen strategic partnership
Emerging European and central Asian markets today still hold pent-up demand for high-quality products and services that are often supplied by foreign companies. Their developmental needs are aligned with sectors where Singapore companies have strong competencies in. These include urban planning services, information and communications solutions as well as high-tech municipal and environmental infrastructure. In recognising opportunities arising from this, IE Singapore and EBRD will explore ways to increase collaboration for companies, as emerging markets in Europe and central Asia actively seek to diversify and modernise their economies. Singapore companies are regarded as suitable and efficient partners to reduce European and central Asian companies' reliance on the EU market.
Mr Teo Eng Cheong said, "Singapore companies' expertise and capabilities are complementary to the developmental needs of emerging European and central Asian markets. The investment environment there is favourable for our companies, with its highly-skilled, well-educated workforce and enterprises. IE Singapore will partner the EBRD to help Singapore companies capture opportunities through funding and facilitating business collaborations."
