SINGAPORE, Sept. 25 (Kyodo) -- Singapore firms are seeking to supply components to Japanese auto parts makers in China, with a Singapore government agency organizing the first such business mission this week.
International Enterprise Singapore, formerly known as the Singapore Trade Development Board, is currently leading a delegation of 20 Singapore companies to Guangzhou Province in southern China for meetings with 12 Japanese auto parts makers Thursday and Friday.
These small and medium-sized Singapore electronics and precision engineering firms already have factories in China.
"This will be the first time IE Singapore is targeting Japanese automotive players in China," the government agency said in a statement.
The move comes amid a boom in the number of Japanese automakers operating in southern China, including Toyota Motor Corp., Honda Motor Co. and Nissan Motor Co.
Singaporean auto parts makers are eager to supply electronics, metals and plastic to Japanese auto parts makers, the agency said.
It said it believes Singapore companies have an advantage due to their reputation as reliable suppliers that can offer high-quality components.
The wealthy Southeast Asian city-state has about 3,000 local electronics and precision engineering firms, including makers of auto-components.
Peter Lu, a senior executive from Sunningdale Tech Ltd., one of the participating companies, said, "It was previously very difficult for us to reach out to them as we do not have the relevant contacts."
He said he hopes to take advantage of the opportunity of the business mission to showcase his company's products and services "and build a successful and strategic working model" with the Japanese companies.
