SINGAPORE, Nov. 20 (Xinhua) -- Singapore opened here on Friday the 6th Asia Pacific Food Expo.
From 2003 to 2008, Singapore's total domestic food exports showed a compounded annual growth rate of 11.3 percent, from 2.2 billion to 3.8 billion Singapore dollars (1.53 billion to 2.65 billion U.S. dollars), according to Singapore Parliamentary Secretary for Trade and Industry and Information, Communications and the Arts, Sam Tan.
He said that venturing out of Singapore would be a long-term, sustainable strategy for the Singapore's food manufacturing industry, noting that China for example, is a potential market that food manufacturers can consider.
He also indicated that companies can penetrate new markets by leveraging the "Tasty Singapore" branding, a joint effort by Singapore’s pro-enterprise agency, IE Singapore and the Singapore Food Manufacturers' Association (SFMA) which promotes awareness on Singapore-manufactured food products.
Besides trade shows, IE Singapore and SFMA members have also adopted new and innovative ways to profile food manufacturers through the Tasty Singapore brand, such as featuring them in local and overseas supermarkets, he said.
He also reminded the manufacturers to constantly innovate as consumers become increasingly more sophisticated and demanding. He cited the example of the Food Product Concept Competition organized by SFMA and supported by SPRING Singapore and IE Singapore, which inaugurated in 2007, has resulted in a total of 26 exciting new products developed by students this year.