Deal promises smooth admission to Asian markets

EAGLE STAFF

Officials signed an agreement in Singapore to “fast-track opportunities for Canadian plant-based ingredient and food companies to bring their products directly” to the Asia-Pacific market, a statement said.

Protein Industries Canada and Singapore-based Nurasa established the Asia-Pacific market entry program and revealed it at an Aug. 1 event in Singapore. Nurasa is described as “a leading food innovation and commercialization” enterprise in a Protein Industries statement.

"Canadian innovation is driving the global shift toward sustainable food solutions,” Melanie Joly, the federal industry minister, said in the statement. “This partnership is another example of how the global innovation clusters are helping Canadian businesses succeed both at home at abroad, driving Canada’s leadership in industries of the future,” Joly said.

The program will help Canadian plant-based ingredient and food companies prepare their products for launches in Singapore and elsewhere in the Asia-Pacific region. It “will accelerate market entry by offering tailored market insights, product development and formulation support, and access to Nurasa’s state-of-the-art facilities and network of commercialization partners,” the statement said.

Nurasa staff will help “participating companies localize their offerings, navigate regulatory requirements and test market-fit in Singapore and beyond,” it added.

Demand is growing for “sustainable, nutritious food products” in the region, which “represents a significant opportunity” for such companies, said Robert Hunter, who directs Protein Industries. “Through this partnership, we’re removing key barriers to market entry, helping Canadian businesses diversify their export markets and scale internationally, bringing us one step closer to achieving the full potential of our $25-billion plant-based sector,” said Hunter, of Toronto.

The Asia Pacific market entry program has three modules available to companies, with varied outcomes to meet Canadian agri-food companies where they are in terms of product development and export readiness.

“By combining Canada’s leadership in sustainable agriculture and plant-based ingredient expertise with Singapore’s strategic role as a gateway to Asia, we are proud to co-develop solutions that overcome market-entry barriers and delight consumers throughout the region,” said Xiuling Guo, who runs Nurasa.