The 7th Latin Asia Business Forum (LAB) 2010 kicked off here on Wednesday, bringing top minds in government and business from Latin America to Asia.
The forum brings together over 250 delegates from more than 10 different Latin American countries to explore investment and partnership opportunities, share best practices and strategies, and exchange market experiences and insights on doing business in Latin America and Asia.
Against this backdrop of positive economic outlook in both regions, three leading Latin American companies, namely Concha y Toro, Chile's largest exporter and producer of wines; P.M.I., the oil trading arm of PEMEX (Mexico's national oil company); and Braskem, Latin America's largest petrochemical company, are establishing their presence in Singapore with a view to growing their business in and with Asia.
During the forum, Singapore's Minister for Trade and Industry Lim Hng Kiang also announced that Banco Santander, the Madrid- headquartered bank, has set up a representative office in Singapore, as part of its plans to expand its presence in Asia.
A Memorandum of Understanding (MOU) between the Singapore Business Federation and the Mexico Business Council for Foreign Trade Investment and Technology was also inked at the sidelines of the Forum. The MOU seeks to increase collaboration between companies in Singapore and Mexico./.