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Ministry of Trade and Industry
1. Press releases

MOS Iswaran Leads Business Delegation to Further Economic Ties with Italy

13 May 2007

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MINISTER OF STATE S ISWARAN LEADS BUSINESS DELEGATION TO FURTHER ECONOMIC TIES WITH ITALY, 14 TO 18 MAY 2007 

Minister of State for Trade and Industry Mr S Iswaran will lead a business delegation to Italy from 14 to 18 May to promote collaboration between companies from Italy and Singapore. His trip will cover the cities of Milan, Bologna, Rome and Turin.

Lying in the heart of the Mediterranean, Italy has the fourth-largest GDP in Europe and is home to almost 60 million consumers. Its key economic sectors include automotives, chemicals, design and tourism. MOS Iswaran’s visit seeks to boost bilateral economic cooperation, particularly in the areas of automotives, furniture and design.

During the trip, MOS Iswaran is scheduled to meet major automotive companies and visit key players in the furniture and design sectors.

Singapore’s trade relations with Italy are fairly robust.In 2006, Italy was our 21st largest global trading partner and our 5th largest EU trading partner.Our trade with Italy was valued at S$5.09 billion, an increase of 11.04% from S$4.58 billion in 2005.

MOS Iswaran will be accompanied by officials from the Ministry of Trade and Industry, Economic Development Board, International Enterprise Singapore and SPRING as well as representatives from Singapore companies in the automotive and furniture sectors.


MINISTRY OF TRADE AND INDUSTRY
SINGAPORE