PT&I, Singapore trade body ink new deal
<b>Pacific Islands Trade & Invest</b> (<b>PT&I</b>) New Zealand and Trade & Industry Association of Singapore (TIAS) have signed a new Memorandum of Understanding (MoU) to promote Pacific Island exports into Singapore and attract investment for projects in the Pacific Islands region.<!--more-->
TIAS is a membership body and a leading Trade and Industry association in Singapore representing the private sector. Its membership that runs into the thousands comprises companies in the hospitality, energy, marine and infrastructure sectors, among others.
Speaking to Pacific Periscope after signing the MoU, TIAS President Kenneth Pan said, “TIAS is delighted to partner and collaborate with <b>PT&I</b>. There are many similarities between Singapore and the Pacific Islands, for example, we are island states and we are some of the region's most popular vacation destinations.
[caption id="attachment_6798" align="alignleft" width="111"]<a href="https://pacifictradeinvest.com/PTI/wp-content/uploads/2015/01/tkenneth_pan-_singapore_story.jpg"><img class="size-full wp-image-6798" alt="Kenneth Pan President, TIAS " src="https://pacifictradeinvest.com/PTI/wp-content/uploads/2015/01/tkenneth_pan-_singapore_story.jpg" width="111" height="146" /></a> Kenneth Pan<br />President, TIAS[/caption]
“With only 714.3 square km, which is slightly larger in term of land size than Micronesia, Palau, Niue, Cooks Islands, Marshall Islands, Tavalu and Nauru, Singapore become one of Asia top business and investment hub, with a vibrant and open economy, low corruption, one of the busiest air and sea ports in the world, all in just 50 years of independence.
TIAS strongly encourages more business involvements between our members and with the Pacific Islands. We encourage companies and businesses in the Pacific Islands to network as also involve themselves actively in the global business network.”
Michael Greenslade, <b>PT&I</b> NZ Trade Commissioner said, “The New Zealand Office of <b>PT&I</b> is delighted to have met and built a strong relationship with TIAS leading to the signing of a MoU. PT& I recognises the importance of Singapore as a Trade and Investment hub for the rest of Asia and sees this relationship and MoU as a major opportunity for Pacific Island Countries.
“We at <b>PT&I</b> congratulate Singapore on its 50th anniversary and we are looking forward to participating in TIAS's 50th Anniversary Conference this year.”
The MoU outlines both aspirational and specific objectives and goals. As well as seeking Pacific Island products to import into Singapore, TIAS members would like to explore the potential of establishing joint ventures or investment initiatives in the islands region.
Among other joint initiatives will be the participation of Pacific Island exporters at a business promotion and business-to-business event to be held in Singapore this year as well as a delegation of Singapore businesspeople and investors visiting specific Pacific Island markets later this year. Pacific Periscope will keep readers updated about progress on these events.
The MoU is one of the outcomes of PT&I’s increasing engagement with Asian markets, notably through the United Nations Economic & Social Council for the Asia Pacific’s (UNESCAP) Business Advisory Council (EBAC), of which <b>PT&I</b> has recently been inducted as member (PT&I is also a member of one of EBAC’s task forces.