Mr Rodolphe Lameyse, CEO of Vinexposium,

Distinguished guests,

Ladies and gentlemen

 

Introduction

 

1. A warm welcome back to Singapore!

 

2. This is the second edition of Vinexpo Asia in Singapore, and it is such a delight for Singapore to be able to host our partners from different regions here.

 

3. Singapore is a city that celebrates diversity, of culture and of wine and spirits too. Today, with 11,000 trade specialists across 70 markets, and close to 1,000 wine and spirits producers from 30 countries, Vinexpo Asia is truly an event that celebrates the diversity of wines, spirits and culture.

 

4. Beyond showcasing bottles, we are sharing stories. Behind every label is a tradition, and often generations of craftsmanship, whether it is a bold Shiraz from Australia’s Barossa Valley, or a malt whiskey from Hokkaido.

 

5. Because of weather and production conditions, tropical countries like Singapore traditionally do not produce wines, nor do we have an established history of distilling spirits.

 

6. Yet, because of international trade and enterprise, we are able to taste the finest Merlot from Bordeaux, an exotic soju from Korea, or a refreshing Prosecco from Italy.

 

Importance of a rules-based trading system

 

7. In a business that is as international as this, the ability to move products across borders quickly is absolutely critical.

 

8. The escalation of tariffs and retaliatory measures worldwide have sparked a very different geo-economic environment today. Indeed, the world is changing and changing fast. It has threatened to unravel the international trading system that we have known for years.

 

9. This uncertainty has already impacted business operations, investments, and global supply chains. Consumer sentiment is understandably dampened.

 

10. For small producers and independent traders, such trade barriers are not just inconvenient, they can be existential. For a small, open economy like Singapore, we fully understand the importance of upholding a rules-based trading, open system.

 

11. We are firmly committed to working with stakeholders and like-minded partners around the world to maintain access to markets, and to provide a predictable business environment.

 

a. We will continue to advance international collaboration through continued dialogue with our partners, and through bilateral and regional partnerships. With our latest trade agreement, the Pacific Alliance-Singapore FTA that entered into force earlier this month, Singapore now offers a comprehensive network of 28 free trade agreements you can tap on for facilitated market access around the world.

 

Market potential in Southeast Asia

 

12. Within the region, Southeast Asia is a bright spot. Home to over 600 million people and a young, rising middle class, it is expected to become the world’s fourth-largest economy by 2030.

 

13. The wine and spirits industry can benefit from this growth. Already, alcohol beverage revenue in Southeast Asia is projected to increase by about 10% from 2023 to 2027. Younger consumers are also more willing to explore new trends, like low or no-alcohol alternatives.

 

14. I encourage everyone to take advantage of your time here in Singapore at Vinexpo to network, and to explore ways to tap on this growing market and the rest of Asia.

 

15. With the Asia Pacific wine and spirits market expected to grow at 6.85% annually from now to 2030, we can be optimistic that its trade in the region will also grow in tandem.

 

Singapore’s role as a trading hub in Southeast Asia

 

16. From harvest to bottle to shelf, the wine and spirits supply chain depends on a well-oiled global system. Rising fuel costs, port congestion, and packaging costs are factors that could dampen this industry – and they are now fraught with uncertainty. For many people in this room, this means higher prices, lower margins, and a longer time to market.

 

17. As a key trade hub in the region, Singapore understands the importance of supply chains. Amidst today’s challenges, Singapore’s strategic location and strong logistical infrastructure continue to be a strength and make this place an ideal place for wine and spirits importation and distribution. Singapore is also the world's 3rd largest importer (USD$2.1B) and 4th largest exporter (USD$2.5B) of wines and spirits.

 

18. Within Singapore, I’m pleased to say that there is a deepening appreciation for fine wines and bespoke spirits. Our wine market is expected to grow annually by over 5% in revenue from now till 2030.

 

a. Wine retailers like Wine Connection, Bottles & Bottles, and 1855 The Bottle Shop offer a total of 50 outlets island wide. Vivino, the world’s largest online wine marketplace, also opened its first-ever physical store in Singapore in September 2024.

 

b. We have several homegrown spirits, that blend tradition with creativity. For example, Tanglin Gin created the first batch of Singapore’s gin in 2018 using local flavours like young ginger and dried chilli seeds. Brands like Brass Lion Distillery and Compendium Spirits have pushed the boundaries by offering locally produced and crafted whiskey.

 

19. Singapore’s vibrant F&B scene is also rising on the global stage, showing increasing sophistication among consumers, and a greater appreciation of fine wines and spirits. In 2024, four Singapore bars made it into the World’s 50 Best Bars, and 11 Singapore bars made it into Asia’s 50 Best Bars.

 

Conclusion

 

20. Ladies and gentlemen, amidst the uncertainties in the global economy, it is even more important for the industry and government to come together to navigate the headwinds. Singapore stands ready to be your partner. One thing remains clear to us, the global appetite for wine and spirits is not going away.

 

21. So, keep the spirits high and all the best to all the traders, partners and friends who are here for Vinexpo Asia. Thank you!