The General Director of QazTrade JSC Azamat Askaruly held meetings with the leadership of the Singapore Business Federation (SBF) and the Singapore State Agency for Entrepreneurship Development Enterprise Singapore. The meeting was also attended by the heads of the Astana International Financial Center(AIFC) and Kazakh Invest.
The SBF is the highest business chamber advocating the interests of the Singaporean business community in the areas of trade, investment and industrial relations. SBF members are all companies registered in Singapore with a share capital of SGD 0.5 mln. – more than 27 thousand companies. SBF provides members with the opportunity to network and reach emerging markets through participation in business missions and business delegation visits.
Enterprise Singapore is responsible for developing entrepreneurship, creating conditions and assisting interested companies in building capacity, innovative capabilities and internationalization. The main mission is to create an economy with Singaporean enterprises that are globally competitive. At the same time, the task of promoting the image of Singapore as a hub for global trade and start-ups is being addressed.
The parties discussed the possibility of cooperation in building comfortable logistics routes to boost bilateral trade, agreed to exchange information on the trade and commodity prospects of the two countries, as well as exchange information regarding institutional support for export-oriented entrepreneurship.
– Kazakhstan is interested in Singapore’s experience in promoting business abroad. QazTrade, as a single-single window institution for the support and development of Kazakhstan’s non-commodity exports, is interested in studying the practice of Singaporean colleagues in expanding to foreign markets and consulting support for exporters. On the basis of QazTrade, last year we launched an educational academy, teaching beginners and advanced entrepreneurs in exporting the peculiarities of the markets of different countries and the subtleties of exporting a particular product. Companies carry out deeper work on the development and promotion of goods for export within the framework of the Export Acceleration program. We build our work on examples of the successful experience of other countries, including Singapore. For example, the practices in mentoring for start-up entrepreneurs and increasing the competitiveness of enterprises is very interesting, – Azamat Askaruly commented on the results of the meeting.
During the negotiations, QazTrade, the Singapore Business Federation and Enterprise Singapore agreed to exchange a list of exporters of certain types of products that are of interest to local entrepreneurs, as well as provide information support to each other as part of promoting goods to the markets of both countries.
An agreement was also reached on cooperation for the mutual exchange of trade and economic missions of Kazakhstan and Singapore.
This autumn a Singapore business mission is planned to be held in Almaty.