Temasek-founded Trustana launches programme for F&B SMEs to tap S$4.5t global market

TEMASEK-founded Trustana, a cross-border trade and sourcing platform, on Monday (Nov 22) launched its new Global Expansion Program which will enable small and medium-sized enterprises (SMEs) that supply and manufacture food and beverage (F&B) products in Singapore and China, to tap an international market worth over S$4.5 trillion.

The programme is supported by the Infocomm Media Development Authority (IMDA), Enterprise Singapore (ESG) and the China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity Initiative Administrative Bureau (CCIB).

In a press statement on the same day, Trustana said that as at Nov 22, over 100 selected suppliers from Singapore and China were onboarded to the programme following a successful pilot led by Trustana and CCIB earlier this year, which saw 5 leading suppliers from Chongqing expand their reach into South-east Asia.

"This demonstrates the demand and urgency for suppliers to harness opportunities present in international markets," said chief executive officer of Trustana, Rebecca Xing.

The programme aims to be an "all-in-one solution" to help SMEs overcome barriers in expanding overseas such as the lack of physical presence, relevant knowledge and resources.

Suppliers from Singapore and China selected for the Global Expansion Program can look forward to receiving support, assistance with exporting and access to additional sales channels. Suppliers in Singapore can expect to gain access to buyers in China, while Chinese suppliers will be able to tap Trustana's network of buyers in South-east Asia.

In addition, as part of the SMEs Go Digital programme, eligible Singapore SMEs can be supported under the Grow Digital initiative by IMDA and ESG to leverage e-commerce platforms to sell overseas without a need for physical presence. SMEs from the food manufacturing and wholesale trade sectors in Singapore can receive up to 80 per cent grant support to defray the cost of going onboard Trustana's platform.

CCIB is also investing over the next 3 years to support Chongqing suppliers selected for the Global Expansion Program and aid the companies in their expansion overseas.

The level of support offered will depend on the type of membership that a supplier opts for when taking part in the programme. Basic membership includes free listing of products on Trustana's platform, a dedicated brand page, as well as assistance with payment and fulfilment.

Beyond the basic package, suppliers looking for additional value-adding services can upgrade to receive support such as assistance with navigating export regulations, market and product analysis, guidance on brand building and localisation, as well as demand generation and marketing.

Director-general at CCIB, Zeng Jinghua, said: "Our support and investment will fuel this growing momentum, and we believe that this is a critical step in empowering the Chongqing trade community to expand abroad."

One of the Singapore suppliers taking part in the programme is Shilepo, a local company that sells salted egg fish skin products.

"Selling overseas meant that we had to go through some unfamiliar processes, but with this programme, we are able to smoothly navigate the export and import requirements from Singapore and China respectively within 2 weeks. We are also able to distribute our snacks via legitimate sale channels in the China market," noted director at Shilepo, Loo Lanshi.

Assistant chief executive for sectoral transformation at IMDA, Leong Der Yao, said that going digital is vital for SMEs to transform their businesses during the pandemic to overcome disruptions and remain globally competitive to capture new growth opportunities in overseas markets.

"We welcome Trustana as our Grow Digital partner, an initiative under the SMEs Go Digital programme. I encourage SMEs from the food manufacturing and wholesale trade sectors in Singapore to onboard Trustana's platform to get a head start in going global by increasing their reach to potential customers in China and the Asean region," he added.

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