WA’S Mid West region is providing fresh produce to Singapore’s largest private retailer, Cold Storage Singapore. Representatives from the company, which has almost 40 stores in its stable, are expected to visit the Mid West regional hub Geraldton
WA’S Mid West region is providing fresh produce to Singapore’s largest private retailer, Cold Storage Singapore. Representatives from the company, which has almost 40 stores in its stable, are expected to visit the Mid West regional hub Geraldton early in 2003 as part of a trip to source unique upmarket food and beverages from WA.
It will not be the first time that Cold Storage, owned by international group Dairy Farm International, has shown an interest in this State. In 2001 it held an in-store promotion using goods sourced from the Margaret River region.
WA is still benefiting from the promotion, with the project now reported to generate sales of $10,000 a week through the stores.
Mid West Development Commission project officer Michael Osborn said it was important for companies in the region to take the opportunity to test their products on the market at minimal cost.
“In the short term, assistance will be to source products immediately for other in-store promotions,” he said.
“In the longer term the State Government will put into action a more comprehensive joint program with the Dairy Farm Group to not only source suitable products, but also to ensure they are retail ready in terms of packaging, bar coding and promotional material.”
Austrade’s Singapore-based executive general manager for South-East Asia, Mike Moignard, said it was important that companies did their homework prior to entering into exporting to the region, particularly in light of the perceived risks following the Bali bombing.
Some exporters remain unfazed by the security concerns, however.
Kailis & France Foods managing director George Kailis said the group had continued its export program to Singapore and Malaysia and would start exporting to Indonesia early in the new year.
“For us it’s business as usual with exports to South-East Asia,” Mr Kailis said.
“In regard to whether we believe it’s safe to travel in South-East Asia, we always leave that decision to the individual taking the trip.
“None of our people has felt it necessary to cancel any of our planned business trips to date.”
Increasing the attractiveness of the region is the successful completion – after almost two years and 10 formal rounds of negotiations – of a Free Trade Agreement between Australia and Singapore. It is the first FTA in more than 20 years for Australia.
The FTA is expected to secure parliamentary approval within the next few months. The agreement will eliminate tariffs on goods, and establish a more open, transparent framework for bilateral trade and investment in the areas of telecomm regulation, competition policy, government procurement, technical standards, intellectual property, electronic commerce and customs procedures.
Singapore is WA’s sixth largest export market, with earnings in 2001-02 valued at $1.8 billion, representing nearly 30 per cent of Australia’s exports to Singapore. Since 1996-97 exports have increased by over 50 per cent. Leading exports include gold, petroleum oil, meat, vegetables and education services.
Imports from Singapore range between $550 million and $650 million a year.
