CACCI President Mr. Peter McMullin AM and representatives from various CACCI Primary Members visited Singapore to meet with officers and Council Members of the Singapore Manufacturing Federation (SMF) on the morning of July 29. A meeting between key CACCI officers and the Senior Minister of State (SMS) for the Ministry of Sustainability and Environment of Singapore was also organized by SMF in the afternoon of that day, while the rest of the delegation went on for a site visit.

The Singapore delegation was organized under the Presidential Visit Program of CACCI. The one-day program provided the delegation the opportunity to strengthen ties between CACCI and SMF members as well as with relevant government officials and local businessmen of Singapore, and to seek their support for the Confederation and its activities. During the meetings, Mr. McMullin and members of his delegation introduced CACCI, elaborating on the Confederation’s objectives and what it does to encourage cooperation among businessmen in the region. They also exchanged views on the local business conditions; areas of opportunities for business, trade and investment; and policies set in place by the Singapore government to attract foreign investors.

The CACCI delegation was composed mostly of chamber executives and businessmen from eight CACCI member countries looking at possible business and investment opportunities or considering expansion of their existing businesses in Singapore, and to invite them to consider their respective countries as an investment destination for the Singapore business sector.

 

Highlights of the Visit

 

The Singapore Visit was organized by SMF as a Roundtable Conference under the theme of “Unlocking Asia Pacific Market Access”.

 

Welcome Speech by SMF Vice President

 

In his Welcome Remarks, SMF Vice President Mr. Melvin Tan said that Singapore manufacturers have had a strong year so far. Non-oil domestic exports grew 18.6% in the first half of 2026, with electronics up over 100% in June alone — driven by AI demand.

He pointed out, however, that manufacturers in Singapore still face real pressure — Middle East-driven supply disruptions, shifting US tariffs, rising costs, tightening ESG rules. This is exactly what SMF and CACCI have been working on together. Sustainability reporting is still a new and fast-moving space across the region, with standards evolving differently in each market — which is a lot for any single SME to navigate alone.

That's why the Green Alliance built a shared certification system: a tiered Bronze, Silver, and Gold framework that assesses companies across environmental, social, and governance criteria, and recognises existing certifications like Green Mark and ISO standards rather than asking businesses to start from zero. As SMF's Chairman of the Sustainability Committee, this is work I've been directly involved in — and it's exactly why this partnership is meaningful. Mr. Tan noted that the Conference topics matter directly to SMF’s members. Market trends matter because our growth this year has come from exports — manufacturing accelerated in the second quarter, driven by AI-related electronics demand.

ESG navigation matters because MNCs here have already started requiring their suppliers to meet sustainability standards, and SMEs that can't keep up risk losing that business. And regional entrepreneurship matters because our members are already looking beyond Singapore — SMF has been active in the Johor-Singapore Special Economic Zone and the Batam-Bintan-Karimun corridor, helping its manufacturers find production and partnership options nearby. “This isn't about leaving Singapore. It's about giving members more options, at a time when relying on one market carries real risk,” Mr. Tan pointed out.

 

Opening Speech by CACCI President

 

CACCI President Mr. Peter McMullin AM in his Opening Speech noted that amidst the challenges in the global market environment – both geopolitical and economic – the Asia-Pacific region is expected to remain the principal engine of global economic growth throughout the medium term. is expected to make the largest contribution to global growth, supported by resilient domestic demand, expanding manufacturing capacity, rapid digital transformation, and continued infrastructure investment.

Against this backdrop, President McMullin pointed out that CACCI member economies are well positioned to benefit from the region's economic dynamism. The economic diversity of its membership strengthens the resilience of the CACCI network and creates complementary opportunities for trade, investment, and business collaboration across the region.

Mr. McMullin also cited the SET platform of his CACCI Presidency, which he explained to be a strategic policy agenda focused on Sustainability, Entrepreneurship, and Trade to help regional businesses get "SET" for the future. He elaborated on the core Focus Areas of the SET Agenda to include the following: (a) Sustainability, which focuses on helping small and medium-sized enterprises (SMEs) reduce carbon footprints and transition to low-carbon economies through practical frameworks; (b) Entrepreneurship, which supports grassroots innovation and youth-led economic growth through networks like the Young Entrepreneurs Group Asia Pacific (YEGAP); and (c) Trade, which aims to enhance regional commercial cooperation, partnership building, and market access across Asia and Oceania.

The Welcome and Opening Remarks by Mr. Tan and Mr. McMullin were followed by three presentations:

 

Presentation on Asia-Pacific Business Outlook

 

Mr. Amador Honrado, CACCI Deputy Director-General, made a presentation on “Asia-Pacific Business Outlook” in which he outlined market trends, growth sectors, and trade opportunities across CACCI member economies.

 

Introduction on CACCI and Its Activities

 

However, before he made his presentation on “Asia-Pacific Business Outlook”, Mr. Honrado briefly introduced CACCI and its activities, highlighting the following:

 

(1) CACCI is a regional body of chambers of commerce and industry, business associations and business enterprises in Asia-Pacific, serving as a forum for promoting the vital role of businessmen in the region, increasing business interaction, and enhancing regional economic growth.

(2) Since its establishment in 1966, CACCI has grown into a network of 27 national chambers from 25 Asian countries, pointing out that, when effectively mobilized, these members can give substance to CACCI’s common commitment to economic development.

(3) To help members meet the challenges of globalization and at the same time take advantage of the opportunities it offers, chambers of commerce must provide services that will enable their constituencies to reach out into the global market. These activities should be focused on a number of areas:

 

• CACCI recognizes the importance of business networking to encourage greater interaction among individual businessmen in CACCI member countries and outside the region
• CACCI sees the need for chambers of commerce to play a more active role in regional cooperation efforts by establishing an effective channel of communication with members of ABAC, ASEAN BAC, SAARC-CCI.
• CACCI recognizes the need to establish stronger ties and conduct dialogues with other regional and internation business organizations such as the International Chambers of Commerce and the Eurochambres
• CACCI believes in bringing SMEs into the mainstream of economic development by providing them support and allowing them to be competitive both domestically and internationally.
• CACCI recognizes the importance of encouraging the exchange of trade delegations, participation in trade fairs, the exchange of trade data information, and performing business inquiry services and trade matching activities.
• Chambers should encourage their constituencies to invest on training programs that address the emerging skills requirements and on sound practices of doing international business, trade and investments.
• Chambers must encourage the development of schemes to intensify firm level cooperation in technology transfer and increase technology-based investments.
• CACCI maintains that chambers must serve as spokesmen for the business communities by joining forces in formulating their stand on policy issues to help establish a healthy business environment and create better business opportunities.

 

Asia-Pacific Business Outlook

 

Before presenting his report on “Asia-Pacific Business Outlook”, Mr. Honrado first attributed its preparation to CACCI Director-General Dr. Darson Chiu. He then proceeded to highlight the following points in the report:

Three structural forces expected to shape the regional economy during 2026–2031

 

• Continued diversification of global supply chains and manufacturing across Asia;
• Accelerating investment in artificial intelligence, semiconductors, digital infrastructure, and advanced manufacturing; and
• Continued expansion of regional trade and cross-border investment despite an increasingly complex geopolitical environment.

Regional Assessment

 

Northeast Asia

 

Northeast Asia remains the region's center for technological innovation and advanced manufacturing. Although Japan, Korea, and Taiwan are expected to record more moderate economic growth than emerging Asia, they continue to benefit from world-class industrial capabilities, sophisticated financial markets, and high-value exports. These economies are expected to remain major sources of technology, investment, and innovation across the Asia-Pacific.

Taiwan is projected to experience particularly strong growth in 2026, supported by sustained global demand for semiconductors and AI-related products. As capacity expansion gradually normalizes, growth is expected to moderate over the following years while remaining above that of many advanced economies.

 

Southeast Asia

 

Southeast Asia is expected to remain one of the world's fastest-growing economic regions, benefiting from favorable demographics, expanding consumer markets, continued manufacturing relocation, and increasing foreign direct investment.

Vietnam is projected to remain the region's growth leader through export-oriented manufacturing and strong FDI inflows. Indonesia continues to benefit from its large domestic market, abundant natural resources, and downstream industrial development. The Philippines is supported by resilient domestic consumption, infrastructure investment, and a growing services sector. Cambodia continues to benefit from tourism recovery, construction, and export-oriented manufacturing, while Singapore maintains its role as Asia’s leading financial and business hub despite more moderate GDP growth.

 

South Asia

 

South Asia is expected to remain an important source of long-term regional growth, led by India's expanding domestic market, rapid digitalization, infrastructure investment, and manufacturing development.

Bangladesh is projected to recover steadily following recent macroeconomic adjustments. Pakistan's outlook remains positive but depends on continued structural reforms and improved external financing conditions. Nepal is expected to maintain stable growth supported by tourism, remittances, and domestic investment, while Sri Lanka continues its gradual post-crisis recovery under ongoing economic reforms.

Central Asia and the Caucasus

 

Central Asia and the Caucasus are becoming increasingly important strategic corridors linking East Asia, South Asia, Europe, and the Middle East. Structural reforms, infrastructure investment, and improving regional connectivity continue to strengthen the investment attractiveness of Uzbekistan, Tajikistan, Azerbaijan, and Georgia. These economies are expected to play a growing role in regional logistics, energy cooperation, and cross-border trade.

 

Oceania

 

Australia and New Zealand are expected to maintain steady, moderate economic growth supported by strong institutions, immigration, commodity exports, and competitive services sectors. Although growth rates are lower than those of emerging Asia, both economies continue to provide attractive, stable, and low-risk investment environments for regional businesses.

 

Business Opportunities

 

The medium-term outlook highlights several sectors that are expected to generate significant business and investment opportunities across CACCI member economies during 2026–2031. These are:

 

Digital Economy

• Artificial Intelligence (AI),
• Semiconductor Supply Chains,
• Digital Infrastructure, and
• Digital Payments and FinTech.

 

Green Economy

• Renewable Energy and
• Green Finance.

 

Infrastructure and Services

• Logistics and Supply Chain Management,
• Infrastructure Development,
• Healthcare,
• Tourism, and
• Smart Manufacturing.

 

Key Risks

 

Despite the generally favorable outlook, several structural risks could moderate regional growth during the forecast period. The principal challenges include:

 

• Escalating geopolitical tensions and strategic competition;
• Rising trade protectionism and supply-chain fragmentation;
• High public debt and fiscal pressures in several economies;
• Population ageing, particularly in advanced Asia;
• Climate-related disruptions and the energy transition;
• Financial market volatility and exchange-rate fluctuations; and
• Slower-than-expected global demand.

 

The extent to which governments and businesses successfully adapt to these challenges will largely determine the sustainability of regional economic growth.

 

Implications for CACCI

 

The evolving regional economic landscape reinforces CACCI's role as the leading platform for promoting private-sector cooperation across the Asia-Pacific. As businesses diversify supply chains, accelerate digital transformation, and seek new investment opportunities, CACCI can play an increasingly important role in facilitating regional business partnerships and economic integration.

To support its members, CACCI should prioritize:

 

• Expanding business missions to high-growth member economies;
• Promoting investment matchmaking and cross-border partnerships;
• Strengthening SME cooperation and digital trade initiatives;
• Supporting AI, digital economy, and green transition projects;
• Deepening collaboration with regional and international organizations; and
• Enhancing policy dialogue between governments and the private sector.

 

Conclusion

 

The medium-term outlook for CACCI member economies remains positive despite an increasingly uncertain global environment. Emerging Asia is expected to continue driving regional growth, while advanced member economies will provide technological leadership, financial stability, and innovation. Together, these complementary strengths position the Asia-Pacific as the world's most dynamic economic region over the coming decade.

Although geopolitical tensions, trade fragmentation, demographic change, climate-related challenges, and financial market volatility remain significant downside risks, the medium-term outlook for most CACCI member economies remains positive. By fostering stronger regional business connectivity, promoting investment partnerships, and supporting innovation-driven growth, CACCI is well positioned to help its members capitalize on emerging opportunities while enhancing the resilience and competitiveness of the Asia-Pacific business community.

 

Presentation on Sustainability & Green Business

 

Ms. Clara Kwan, SMF Chief Sustainability Officer, made a presentation on “Sustainability and Green Business – Unlock Asia-Pacific Market” in which she explained why the Asia-Pacific SMEs now runs through standards, capability and recognition. Among the takeaways of Ms. Kwan’s presentation included the following:

 

Localize, Don’t Duplicate - Adapt what is already available rather than writing another framework. Member companies do not need another standard. They need one on-ramp, with the first rung an SME can clear.

Become the Delivery Channel – CACCI’s own study across member economies asked: How might chambers help SMEs meet sustainability imperatives and stay competitive? A deep-dive TR 149 and sustainability course is in development, which can be localized for each member.

Push for mutual recognition – One assessment, accepted across CACCI member economies. A supplier in Ho Chi Minh City, Penang and Singapore should answer the same buyer’s question in the same language.

 

Presentation on Entrepreneurship and Innovation

Mr. Stuart Thomson, CACCI Vice President for Entrepreneurship, shared his views and perspectives on fostering entrepreneurship, SME growth and regional collaboration models.

The major points raised by Mr. Thomson included the following:

 

1. Entrepreneurship and innovation are closely connected, but they are not the same. Innovation is about creating something new — a new product, a new process, a new business model, or simply a better way of doing something. Entrepreneurship is about acting on that possibility. An idea can remain an idea forever. An entrepreneur is the person who is prepared to do something with it.
2. Innovation and entrepreneurship need each other. Innovation without entrepreneurship can remain an idea in a laboratory, a university, a boardroom or a notebook. Entrepreneurship without innovation can simply reproduce what already exists. But when the two come together, change is created. In the Asia-Pacific, much of the innovation that matters will not necessarily come from the largest companies. It will come from entrepreneurs and SMEs adapting to the world around them.
3. The Asia-Pacific remains one of the great engines of the global economy. There is enormous growth, extraordinary innovation and immense opportunity. The question is: how do entrepreneurs pursue those opportunities in a world that is increasingly difficult to predict?
4. The nature of competitive advantage is changing. Before, access to information and the right contact person was difficult to obtain. Today, thousands of businesses can be found online in minutes. Information is becoming abundant. Connections are becoming easier to find. But there is one thing technology has not made abundant.
5. Trust will become one of the great currencies of entrepreneurship and innovation in our time. Because finding a business is easy. Knowing whether you should trust that business is much harder. Finding a person online is easy. Knowing how they will behave when something goes wrong is much harder. And in uncertain times, that becomes increasingly important.
6. Much innovation actually happens between people. It happens when people feel safe enough to share an unfinished idea; when people from different industries, countries and cultures bring different perspectives to the same problem. That requires something more than networking. It requires trust. And trust creates the conditions in which genuine innovation can occur.
7. The future role of a chamber is not simply to be a connector. It is to become part of the trust infrastructure of the economy. Membership provides one level of reputational connection. It tells us that a business exists within a community and has some relationship with an institution. The future may increasingly be about stable, sustainable growth built on relationships capable of surviving disruption.
8. This presents an enormous opportunity for CACCI and for chambers throughout the Asia-Pacific. They have something that technology cannot easily replicate. They have institutions. They have networks that cross borders. However, those networks need to be activated those networks, by creating repeated opportunities for people to develop genuine relationships.
9. Entrepreneurship will continue to be one of the great drivers of innovation. Technology will continue to give entrepreneurs extraordinary new tools. But that does not make human relationships less important, but it makes them more important instead. In a world of unlimited connections, there is a need to know whom to trust.
10. The role of entrepreneurship is to turn possibility into action. The role of innovation is to create new value. And perhaps one of the great roles of chambers of commerce in this next era is to create the trusted relationships in which both can flourish. The future of entrepreneurship in the Asia-Pacific will certainly be technological. It will certainly be innovative. But fundamentally, it will still be human. Ideas are everywhere. Trust is not.

The presentations made by Mr. Honrado, Ms. Kwan, and Mr. Thomson were followed by a Q&A session which was moderated by CACCI President McMullin. During the session, it was suggested to disseminate Mr. Honrado’s summary report to members, upload it in the CACCI website, and feature it in the ABA Newsletter.

 

Session on APGA

In the afternoon, a special session was held to exchange ideas on the Asia Pacific Green Alliance (APGA). CACCI officers led by President McMullin and SMF officers headed by President Lennon Tan discussed how CACCI and SMF can promote it among CACCI members and encourage them to take an active involvement in achieving its objectives among their respective constituencies.

Officially launched in Singapore during the Asia-Pacific Economic Forum held on 11-12 November 2024, the APGA is a response to the fragmented sustainability landscape that countries worldwide currently navigate. Many countries encounter diverse standards, regulations, and approaches to sustainability. This diversity, while reflective of local priorities and contexts, creates a significant challenge, especially for SMEs.

Its vision is to unify sustainability reporting across the Asia Pacific economies with a standard that ensures transparency and accountability, and amplifies the region’s global influence, while its mission is to empower companies with simplified actionable sustainability tools while advocating Asia-Pacific priorities on the global stage.

To achieve its objectives, the APGA will undertake the following activities:

 

1. Standardization and Certification – Establish Reporting Standard, and recognizing excellence with tiered certification (Bronze, Silver, Gold);
2. Empower with Tools and Support – Provide sustainability templates, guidelines and analysis tools; and Offer localized consulting to develop tailored sustainability strategies;
3. Educate and Benchmark for Success – Deliver training on standards, certification and sustainability best practices; and provide benchmarking reports comparing performance across industries and regions; and d. Build Networks and Advocate for Change – Access a marketplace of sustainability services and collaboration opportunities; and drive partnerships with industry bodies, governments and NGOs.

The main focus of APGA are the SMEs, which are important contributors to job creation and economic development. But unlike their larger counterparts like MNCs or listed companies,

SMEs often lack the resources or expertise to adapt and thrive amid these varying sustainability demands and legislation around the world. The APGA aims to equip SMEs with the skills, knowledge, and support to take on the climate change challenge.

The meeting noted that prior to the official launching of the APGA in November 2024, President McMullin commissioned a study aimed at getting a better understanding of the needs and challenges faced by SMEs in transitioning their businesses toward net-zero goals. The study also sought to gather insights and suggestions on how CACCI can provide effective support in this transition.

The meeting thereby suggested that a follow-up survey be conducted to engage a wider group of members to provide a more comprehensive understanding of their needs and challenges. SMF offered its assistance in preparing the follow-up survey questionnaire to achieve this objective.

The meeting also noted that CACCI has been coordinating with the ICC World Chambers Federation in conducting a joint webinar on "Sustainability in APAC: What SMEs are being asked – and how chambers can help" in October 2026. The webinar will discuss latest developments on the APGA and aims to encourage chambers and their respective constituencies from the region to participate in the initiative, highlighting the benefits that they and their businesses can derive from their involvement in it.