Russia-Singapore Business Council took part in the international exhibition Industrial Transformation Asia Pacific 2020
On October 20-22, Industrial Transformation Asia Pacific, the largest annual exhibition of industrial transformation in Asia, took place. At ITAP-2020, a common stand of Russian companies was presented, organized under the aegis of the international digital trade and service B2B Platform RSTrade, which is operated by the Russia-Singapore Business Council. The Platform promotes the digitalization of business processes and the evolvement of international cooperation with the use of digital solutions. Currently, about 85 thousand companies from 26 countries are registered there, including more than 300 companies of the Rostec State Corporation presenting civilian products. RSTrade tools are designed to find foreign partners for the purchase and sale of goods and services and to organize contract manufacturing including its localization. RSTrade integrates with the international platform CamelOne, presented in 16 countries (operator is the Singapore company vCargo Cloud), which allows efficient selection of suppliers of logistics, customs and other services in the field of FEA, including the eSourcing format. On the virtual stand products and solutions of more than 20 Russian companies were featured, including the Shvabe holding and RT-Techpriemka JSC.
On the initiative of the RSBC, a business mission of Russian companies was organized in addition to the presentation on the virtual stand, which was held entirely in digital format. Negotiations at the Foreign Promotion Center of Russian High Technology Companies in Singapore (FPC) were the key part of the programme. Russian delegates met with representatives of Singapore business associations, which include the Enterprise Singapore (ESG) and the Economic Development Board (EDB), as well as of R&D institutes, such as National University of Singapore, Nanyang Technopreneurship Center and NTU Institute of Health Technologies. In the course of negotiations with representatives of the FPC, discussions were conducted about possible further promotion of Russian solutions and high-tech products in the region and launching joint projects, including in the field of R&D. The final event of the business mission was the online training Fostering E-business: Blockchain, Digital Platforms & Cloud Solutions. Speaker Desmond Tay, co-founder and CEO of vCargo Cloud, told the audience about the most promising areas of business digitalization, including the use of blockchain technologies for logistics and customs operations.
The first experience of Russian companies participating in the ITAP exhibition in the format of the common pavilion took place in 2019. At that time the Russian pavilion was organized by the Ministry of Industry and Trade of the Russian Federation together with the Russia-Singapore Business Council. 20 Russian companies were presented at the exhibition – both large state and private corporations, and representatives of small and medium-sized businesses, as well as start-ups. They offered innovative developments in the fields of IT, medicine and construction technologies. At the ITAP-2019 venue, more than 10 cooperation agreements and export-import contracts were signed. One of the key agreements was the agreement on the distribution of products and solutions of the Shvabe holding to Southeast Asia markets. Thanks to the agreement, companies of the Holding have been able to effectively carry out export-import operations with China and Southeast Asia countries during the pandemic and provide vitally important supplies of medical and personal protective equipment.
“These kinds of initiatives are extremely relevant for industrial companies. In the context of the society and economics transformation, it is important to keep track of trends and tendencies, and the RSBC with its opportunities and, first of all, direct contact with the market, helps companies to keep up the pace,” – commented Nikolay Volobuev, Deputy CEO of Rostec State Corporation, Chairman of RSBC.
In the future, RSBS plans to continue participating in such events to promote Russian companies in Asian markets.
The event was supported by: PAO SUKHOI JSC, Rosoboronexport JSC, Krasnozavodsk Chemical Factory JSC, Cheboksary production association n.a. V.I.Chapaev JSC, Ramensky Instrument Engineering Plant JSC, RT-Fire Protection JSC, JSC RT-Guard, JSC SIBER, JSC ELTOM RESEARCH AND PRODUCTION ENTERPRISE, JSC IZMERITEL RESEARCH AND PRODUCTION ENTERPRISE, JSC NMZ Iskra, JSC NPO GIPO, JSC PNIEI, JSC PA Ural Optical and Mechanical Plant n.a. E.S. Yalamov “, PJSC UEC-UMPO, JSC POLYUS Research Institute of M.F. Stelmakh, JSC Shvabe – Tech Lab, LLC NCI, JSC Germanium, JSC “Kemerovo Mechanical Plant”, AO Lytkarino Optical Glass Factory, JSC Novosibirsk Instrument-Making Plant, OOO Shvabe-Media, OOO Shvabe-Moscow, JSC MOSKOVSKIJ ZAVOD SAPPHIR, JSC KEMP, JSC VSRI VEGA, JSC KRET, JSC Ulan-Ude Aviation Plant, JSC YSAR+.
Industrial Transformation Asia Pacific is supported by government agencies that form an advisory committee, as well as by industry stakeholders, and major Singapore and international associations. In 2019, 350 exhibitors from 30 countries were represented at the exhibition, and the number of visitors was about 18,000 people. The organizer of ITAP is SingEx, with the Russia-Singapore Business Council as an exclusive partner.