Singapore business delegation to visit Iran from Friday

A 57-MEMBER business delegation from Singapore, comprising 48 companies, will visit Iran on Friday in what is billed as Singapore's largest business delegation to the Middle East.

The trip is jointly organised by business chamber Singapore Business Federation (SBF) and trade promotion agency International Enterprise Singapore.

The group will visit Iran's capital Teheran and major shipping and regional transhipment hub Bandar Abbas from Feb 26 to March 3.

Companies represented are from the offshore oil and gas, petrochemicals, maritime, ports and logistics, real estate, infrastructure and tourism, info-communications technology, professional services and general trade sectors.

The mission will also be accompanied by Minister for Trade and Industry (Industry) S Iswaran, who will be in Iran for an official visit.

SBF chairman Teo Siong Seng said in a statement that the reintegration of Iran into the world economy is a bright spark amid the uncertain global outlook.

"In contrast, some of Iran's key industries such as oil and gas, aerospace and maritime logistics, are expanding significantly," he said.

He said it is heartening that 43 out of the 48 companies on the business delegation are small and medium enterprises (SMEs).

"These companies have set their sights further ashore to explore new opportunities in new markets, suggesting that emerging markets are not limited to the bigger players."

Delegate Zhennan Low, deputy managing director of food and raw products company SJ Low Bros & Co, said in a statement that he hopes to find long term partners and suppliers for food distribution in Iran.

SBF's last business mission to Iran was in January last year.