The Singapore Business Federation (SBF) launched its first LATAM Conference to enhance trade relations between Singapore and Latin America, featuring key industry leaders and insightful panel discussions.

SINGAPORE, 15 May 2024 – Economic cooperation between Singapore and Latin America (LATAM) has been increasing steadily over the past decade. With the signing of the Pacific Alliance Singapore Free Trade Agreement (PASFTA) and the MERCOSUR-Singapore Free Trade Agreement (MCSFTA), businesses are looking forward to greater opportunities for expansion into these markets.

To promote more business exchanges and help Singapore companies deepen their trade relations with LATAM, the Singapore Business Federation (SBF) launched its inaugural LATAM Conference at SBF Center. Minister of State (MOS) for Trade and Industry and Culture, Community and Youth Alvin Tan graced the event as the Guest of Honour.

The Conference provided the opportunity for key industry players, business leaders, and decision-makers from Singapore and LATAM countries to come together to explore new business opportunities and build important networks and connections.

About 150 attendees from sectors including manufacturing, logistics, agriculture, business consultancy, healthcare, EDUtech, Fintech, retail, oil and gas, engaged in the Ministerial Dialogue with MOS Alvin Tan. During the dialogue, topics focused on economic collaboration, PASFTA and MCSFTA, as well as digital trade transformation. Mr. Luis Coronado, EY Global Tax Controversy Leader & Transfer Pricing Partner, Tax, Ernst & Young Solutions LLP, and Vice-Chairman of the SBF Latin America Business Group (LABG), moderated the dialogue.

Mr. Gan Seow Kee, Vice-Chairman and Honorary Treasurer of the Singapore Business Federation and Chairman of GlobalConnect@SBF, delivered the Conference’s Welcome Remarks. Under the GlobalConnect@SBF programme, SBF has facilitated more than 250 advisories to Singapore businesses that wish to venture into LATAM over the last two years.

Two panel discussions were also held to provide the Singapore business community with updates on business opportunities and developments in the LATAM region, such as the food supply chain from LATAM to Singapore and the transformative impact of emerging technologies on e-commerce. Speakers from both Singapore and the LATAM region shared their insights into food sourcing and challenges faced in the supply chain, as well as opportunities for merchant onboarding in LATAM, including the range of financial solutions, fintech innovations, and renewable energy credit trading available for Singapore businesses.

Mr. Kok Ping Soon, Chief Executive Officer of SBF, said, “A platform to catalyse trade between Singapore and the LATAM region, the LATAM Conference in its first edition will spur discussions that would lead to greater partnerships between businesses on both sides. With strong government support for Singapore companies to venture into LATAM, there is a lot of untapped potential that we can further unlock for business growth.”

Source: SBF