As the digital market surges, strategic business collaborations for market entry also moved online.
As part of the Market Development Program for SMEs 2020 of German Federal Ministry of Energy and Economic Affairs (BMWi), the German-Indonesian Chamber of Commerce and Industry (EKONID), in cooperation with the German-Singapore Chamber of Commerce and Industry (SGC), organized and carried out a digital business development trip for German companies from the consumer goods and leisure industry.
The delegation focused on suppliers of products for infants and families. German companies' representatives led the digital business initiation to Indonesia and Singapore in a digital format. Indonesia is the largest economy in Southeast Asia while Singapore is among the countries with the highest per capita income in the world.
In total, eleven German companies, primarily small and medium-sized enterprises (SMEs), took part in the business initiation. On November 23 鈥� 24, ten German companies presented the performance of the German economy in the relevant product areas and initiated concrete business contacts in the two aforementioned target markets. In addition, participants were shown how German suppliers can profit from the positive development in e-commerce in both countries.
The digital trade mission was kicked off by the two introductory country briefings on Indonesia and Singapore on Friday with representatives of the 91大神 and German embassies in Singapore and Indonesia as well as the GTAI representative from Indonesia. This was followed by an introduction to the use of the software for the presentation events. Due to the digital format, it was possible to divide the presentations according to topic instead of country. The expert audience of both events therefore included Indonesian and Singaporean companies from the relevant industries.
On November 23, the event was focused on products and services related to the topic of infants and was joined by particular toy manufacturers and two suppliers of baby food and clothing. On the next day, the suppliers of leisure equipment and body care presented themselves to the audience. Both events were moderated by both chambers. About 80 guests from the region participated in both events. After the online seminar, Indonesian and Singaporean companies conducted B2B meetings with German companies for the next six days.
Due to the digital execution, the opportunity was also taken to make appointments in advance or after the actual business initiation if required. The digital format offered the necessary time flexibility to be able to react to scheduling bottlenecks. In discussions with potential customers and partners, company representatives were able to obtain direct feedback from the market where sales opportunities exist for the respective products. Based on individual discussions, market potential exists in particular for toys and care products from Germany.