Andrew Douse
A burst of indoor fireworks added an extra touch of sparkle to the official opening of Asian Aerospace 2000.
The glittering display proved to be a fitting finale to a trio of keynote speeches given by Goh Chok Tong, Singapore's prime minister, Lim Chin Beng, chairman of Asian Aerospace and Mike Rushbridge, chairman, Reed Exhibition companies.
Addressing hundreds of guests and VIPs at the Suntec City exhibition centre, the prime minister said: "The new millennium has brought cheer to East Asia. The regional financial crisis is now behind us.
"The outlook for the aerospace industry is good. Annual passenger and air cargo traffic is projected to grow by 5% and 6% respectively over the next 10 years."
"The aerospace industry in Singapore has grown significantly over the years, fuelled by strong demand for aerospace components and products, as well as repair and overhaul services.
"The Economic Development Board forecasts that the industry will triple in size from today's S$2.3 billion by 2010."
"Today, about 60% of the Singapore aerospace industry output is derived from outside the Asia-Pacific market. We expect it to go up to 70% as aerospace companies worldwide outsource more and more of their non-core activities.
"I believe that Singapore can become a regional hub for the global aerospace industry." Echoing the prime minister's sentiments, Beng said: "With the regional economies making a positive comeback, we are seeing renewed confidence in the commercial and military aerospace market."
And Rushbridge added: "Asian Aerospace 2000 couldn't have come at a better time, with most of the Asian economies recovering rapidly from the recent economic turmoil."
Source: Flight Daily News
