The Singapore Chamber of Commerce (Western Australia) came into existence on 28 January 2012, born in the Year of the Dragon during Chinese New Year and was incorporated on 9th August 2012 (Singapore’s National Day).
The birth of the Chamber coincided with the Western Australian State Government’s plans to open a Trade & Investment Office in the Republic of Singapore that occurred on 15 March 2012, and was launched by the Government of Western Australia.
The Chamber has been created by the Singapore-WA Network (SWAN) with the kind of support of the WA State Government and the Chamber of Commerce & Industry of WA.
Singapore is Australia’s largest trade and investment partner in ASEAN and Australia’s 6th largest trading partner overall. The Singapore-Australia Free Trade Agreement which came into force in 2003 strengthens an already strong bilateral economic relationship.
Australia ranked 8th amongst Singapore’s principal merchandise export destinations and 17th among its principal merchandise import source countries in 2009. In 2010, Australian merchandise exports to Singapore amounted to $4.8 billion and imports from Singapore into Australia amounted to $10.7 billion. Australian exports to Singapore of services were valued at $2.6 billion and imports from Singapore at $3.5 billion in 2010.
Singapore is the 5th largest source of investment funds in Australia at $43.8 billion whilst Australia’s investments in Singapore amounted to some $25.1 billion in 2010. There are also over 1,300 Australian companies operating in Singapore.
It is no surprise that because of such statistics, the Chamber attracts substantial interest from SMEs and large businesses alike within Western Australia and Singapore.
Click here to visit the Singapore Chamber of Commerce (Western Australia)