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30Jul•Aug•Sep 2012Inside SBFBusiness OpportunitiesLeveraging onPortugal’s economyThe AICEP Portugal Global-Trade and InvestmentAgency and SBF heldthe inaugural Portugal-Singapore Business Forum2012 in May, in conjunctionwith the first state visitof HE Professor AnibalCavaco Silva, President ofthe Republic of Portugal.In addition, amemorandum ofunderstanding on maritimebusiness studies betweenUniversidade Nova deLisboa and the NationalUniversity of Singaporewas signed at the forum.Participants witnessed,too, the signing of a masterfranchising contractbetween VivaFit Portugaland VivaFit Singapore forexpansion into Malaysia.At the forum, PresidentSilva gave an updateon developments inPortugal and the EU, andtouched on the strongbilateral relations andbusiness ties betweenSingapore and Portugal.Almost 100 Singaporebusiness representativesPORTUGAL ISCONNECTED TOEUROPEMEDITERRANEANTHE AMERICAsand serves as a gateway to250 millionPortuguese-speakingconsumers.attended the forum.During the businessmatchingsegment of theforum, participants alsomet and networked withPortuguese delegatesfrom a variety of sectors,including manufacturing,construction, energy, realestate and architecture,telecommunications andenergy, among others.Portugal’s influenceextends to regions asdiverse as India, Macau,Angola, Brazil, Malacca,East Timor and CapeVerde through its colonialheritage and history.With its strategicgeographical locationand established logisticsand communicationsinfrastructure, Portugal isconnected to European,Mediterranean andAmerican markets, andserves as a gateway to250 million Portuguesespeakingconsumers.Portugal’s valueproposition extendsbeyond its geography,with a highly skilled labourforce, modern marketconditions, sustainedprivate sector innovationsand global connectivity.These factors contributeto the country’s traditionalpro-trade and pro-businessoutlook, and serve toprovide good conditionsfor Portugal’s ongoingtransition to a knowledgebasedeconomy.Bilateral trade betweenPortugal and Singaporeincreased by 40.28%in 2011 to over S$298million. Imports fromPortugal grew by 45%,while exports increased by35.2% in the same period.Exploring Turkey-Singapore businessopportunitiesMembers of SBF recentlyparticipated in the Turkey-Singapore Business Forum(TSBF) in conjunction witha visit to Turkey by MrTharman Shanmugaratnam,Deputy Prime Ministerand Minister for Finance.He was accompanied bya 27-member businessdelegation led by SBFSINGAPORE-PORTUGALBILATERAL TRADEEXCEEDEDS$298millionIN 201140.28%INCREASEChairman Tony Chewand Mr Teo Eng Cheong,CEO of IE Singapore.Organised by SBF andTurkey’s Foreign EconomicRelations Board (DEIK),the second TSBF wasorganised in Istanbulunder the auspices of theTurkey-Singapore BusinessCouncil (TSBC), whichwas set up by SBF andDEIK last year to explorebusiness partnerships.Speaking at theforum, Mr Chew calledfor TSBC to be the focalpoint for all bilateralengagements betweenthe business communities.He added that SBFwould offer its servicesto Turkish companiesas a valued partner fortheir ventures into Asiathrough Singapore.Over 80 Turkishcompany representativesfrom diverse sectors, suchas transport and logistics,oil and gas, construction,commodities, trading,financial services andpharmaceutical andhealthcare industries,attended the forum.Bilateral trade betweenSingapore and Turkeycrossed the S$2 billionp.32