Mr Teo Ser Luck at the Launch of Singapore Gifts and Premiums Fair 2012

Speech By Mr Teo Ser Luck, Minister of State for Trade and Industry at the Launch of Singapore Gifts & Premiums Fair 2012 / Stationery & Officelink Fair 2012 at Marina Bay Sands Expo and Convention Centre, Wednesday, 25 July 2012, 10.00am

Mr Goh Sin Min, President, Singapore Booksellers & Stationers Association

Mr Stanley Foo, President, Promotional Products & Giftware Association

Mr Yeo Li Pheow, Principal and CEO, Republic Polytechnic

Ms Elaine Chia, General Manager, Sphere Exhibits

Mr Winston Lim, General Manager, BizLink Exhibition Services

Distinguished guests

Ladies and gentlemen.

Good morning.

Introduction

It is my pleasure to join you today at the launch of the Singapore Gifts and Premiums, and Stationery and OfficeLink Fair.

First, I would like to congratulate BizLink for organising this annual trade show. Launched in 2000, the Fair has grown through the years to become an established platform for both local and foreign business leaders in the gifts and premiums, and stationery and office supplies industries to showcase their products and share innovative strategies for development.

I am also glad to note that visitors and participants at this Fair can look forward to attending educational seminars and workshops to learn relevant skills in marketing and branding for small businesses and innovative ways to use social media for B2B companies. Embracing knowledge and innovation through active industry collaboration is the way forward for our entrepreneurs in the growing gifts and stationery markets. 

Importance of Innovation

The global stationery products market is projected to reach US$155.4 billion by 2015. This development is driven by technological progress, rising levels of literacy and a growing population. Furthermore, demand for licensed products, effective pricing and promotional strategies will fuel growth opportunities in the stationery products market.¹  However, competition is stiff. Singapore’s gift and stationery companies must constantly innovate new ideas and products to keep ahead of the competition and stay fresh and relevant.

Two home-grown companies have done just that. To reach out to the tech-savvy new generation of consumers, Apexx Marketing effectively uses technology and social media to sell their products. They are developing an online catalogue application for Facebook that allows customers to browse, purchase and provide feedback on Apexx’s gift and premium products. Another company, Grandluxe, invested more than US$3 billion in new machinery and equipment to boost production capacity and enhance product quality. To remain efficient and effective in today’s fast-paced business environment, Grandluxe also uses the SAP business management system that has greatly improved their management of customer relationship, procurement, manufacturing and finance.

Importance of Collaboration

While businesses may innovate for their own growth, encouraging innovation in the next generation is also part of the corporate social responsibility of being a leader in the field. BizLink will sign a Memorandum of Understanding (MoU) with Republic Polytechnic’s (RP) Centre for Innovation and Enterprise. Under the MoU, BizLink and RP will organise an annual platform for RP students and student participants of RP’s school outreach programmes to showcase their products. Through this fair, BizLink and RP will provide the opportunity for young budding entrepreneurs to potentially gain industry support for their products and ideas.

Such collaborations are very powerful and effective in nurturing our young entrepreneurs. We encourage more companies to do the same in partnering our youth to seek opportunities for exposure, education and enterprise. As Chairman of the Action Community for Entrepreneurship (ACE), I hope that you could contribute as mentors to our students in our new Entrepreneurship Education Taskforce initiative. This Taskforce aims to implement a more comprehensive programme to help schools educate students on entrepreneurship. Beyond support in schools, those who have a good business idea, and who are ready to launch their first business ventures may also apply for a co-matching grant under the ACE Start-ups Scheme.

Singapore Bookseller and Stationers Association 65th Anniversary

Last but not least, I would like to congratulate the Singapore Bookseller and Stationers Association (SBASA) on turning 65 this year. Since SBASA started out in 1947, it has grown from strength to strength each year, boasting more than 100 members today. The SBASA has served its members well in enhancing the collaboration between stationery enterprises in the Asia-Pacific region; and the development of the stationery industry in the region.

As part of its celebrations, the SBASA will host overseas associations, including those from China, Malaysia and Thailand, at the Asia-Pacific Stationery Industry Networking Seminar. I hope that our companies would use this collaborative platform to develop more innovative products for their sustained success.

Last but not least, I would like to wish everyone a fruitful experience here at this Fair.

Thank you and have a nice day.

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[1] According to 2010 report published Global Industry Analysts, Inc.