The partnership aims to provide food and beverage companies in China and Singapore with better access to import and export markets, so that they are able to internationalize and grow their businesses, according to a press release from Trustana.
The platform said that the MOU brings in five leading food manufacturers from Chongqing to Singapore.
These companies specialize in providing "mala" (hot and spicy) flavor food products, which has an expanding global market with demand grown by 200 percent over the past three years.
"Singapore-based buyers, particularly small and medium-sized enterprises (SMEs), face major challenges when seeking to expand internationally," said Rebecca Xing, Trustana's General Manager and Head of Product.
These challenges include identifying products that will sell well, sourcing from trusted suppliers, managing language and cultural barriers across borders, and navigating the complex processes and operational costs of import with limited volumes.
"Our vision is to democratize access to global trade for companies of all sizes. We're excited to help bring into Singapore five best-selling 'mala' brands from the home of the 'mala' flavour, Chongqing," Xing added.
According to the press release, the MOU is signed on Friday (April 9) at the sixth annual Joint Implementation Committee online meeting for the China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity. - Xinhua