OPENING ADDRESS BY MR LIM HNG KIANG, MINISTER FOR TRADE & INDUSTRY AT INSPIRASIAN, GALA DINNER OF SINGAPORE FASHION WEEK 2007, FRIDAY, 12 OCTOBER 2007, 1955 HRS AT SUNTEC CITY BALLROOM

Distinguished guests,

Ladies and Gentlemen,

Good evening.

Introduction

I am pleased to be here this evening at InspirAsian, the Gala Dinner of the Singapore Fashion Week. This event brings together fashion industry players from Singapore, Asia, the US and Europe to celebrate the spirit of regional collaboration and cooperation within the industry.

Success of Singapore Fashion Week

This year marks the 20th anniversary of Singapore Fashion Week, or SFW. The SFW, has grown from strength to strength through the years.Today, it is the key trade event for the fashion industry in Singapore; having established a presence for itself on the world’s fashion calendar. The value proposition of SFW lies in its ability to provide a complete platform for Singapore and regional designers, brands and labels to grow and launch their labels to an international audience of buyers and trade visitors. I am glad to know that Singapore designer labels such as Tian, Celia Loe, Daniel Yam, Womb, Nicholas, , Allure and other regional brands such as Indonesia’s XSML and Malaysia’s Khoon Hooi, have all grown through participation at SFW.

TheSingapore Fashion Industry

Fashion, as with all creative industries, requires the continuous exchange of ideas to flourish. The industry needs to tune in to regional and international trends, and leverage on partnerships, be it in design, manufacturing or retail processes. Singapore has a relatively small fashion industry, accounting for approximately 3,000 manufacturing and retail establishments hiring 19,000 workers and generating a combined value add of S$590 million[1]. For the industry to grow and tap on global opportunities, it is important to explore and enhance collaborations at three levels: (i) among value chain players; (ii) across industries; and (iii) with overseas players.

Enhancing collaboration amongst value chain players

The first level of collaboration involves enhancing collaboration among value chain partners.Platforms such as SFW provide opportunities for designers, fabric producers, equipment suppliers, manufacturers and retailers to meet and network. In the face of increasing global competition and the rapidly changing sourcing landscape, it is important for value chain players to cooperate to enhance the industry’s value proposition. Already, many of our apparel manufacturers have moved beyond the traditional ‘cut, sew and pack’ services and are working with designers and logistics service providers to provide value-add services such as product development or even to manage the inventory for their buyers. At a time when international buying houses are consolidating their vendor base, such initiatives enhance the industry’s competitiveness by cutting the lead time from design sketches to the retail store.We should continue in this direction of integrating the value chain to provide our customers complete solutions to their needs.

Exploring Collaboration across Industries

Secondly, apparel and fashion industry players are looking beyond their industry verticals to innovate and bring new products and services to consumers. Examples of such cross-industry collaboration include Nike and Apple’s partnership for a range of sports gear that sync music from the iPod with your workout shoes, enhancing the total experience of the exercise regime. Similarly, a Singapore company - Pacific Garment Manufacturing Pte Ltd has partnered FE Global to market a pair of pants which allows the wearer to control music tracks and the volume of the music from the leg of the pants, without having to fumble for the player. Cross-industry collaboration has also been used for back-end operations, for example, deploying RFID solutions to work against counterfeiting and to better manage the supply chain.

Increasing Regional Collaboration on Fashion

Finally, it is also important that collaboration transcends borders and cultures. To further strengthen Singapore’s position as a regional fashion hub, we need to tune in to regional and international trends.

In this regard, the ASEAN Federation of Textile Industries (AFTEX), which celebrates its 30th anniversary this year, continues to play an important role not only in promoting cooperation and coordination among the textile industries of Member Countries, but also in maintaining close relations with regional and international organizations of similar aims and objectives.

I am also pleased that Singapore is the latest member to the Asia Fashion Federation (AFF). Our participation will create greater synergy between fashion retailers, brands and labels to promote Asian fashion in Singapore and the region through the regular exchange of ideas and cross-promotion of key events. As the newest AFF member, Singapore is glad to host the 4th AFF Conference in conjunction with SFW where industry experts from their respective countries will be sharing their knowledge and updates on the latest fashion trends. With such cross-fertilisation of ideas, I am sure that we can look forward to newer and more innovative retail concepts in our stores soon.

Conclusion

On this note, I would like to congratulate the organisers of the fashion week, the Textile and Fashion Federation, on the success of the event over the years.I wish you the best in your continued quest to develop the talents of young designers.

Thank you.