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Singapore to Promote
Trade Ties with Middle East Countries
Singapore has completed a free trade agreement (FTA)
negotiations with the Gulf Cooperation Council (GCC), a senior official
said Tuesday.
The FTA will help to form a strategic link between Singapore and the
Gulf region, and will assist in facilitating the growth of trade and
investments between the two sides, Zainul Abidin Rasheed, Singapore's
Senior Minister of State for Foreign affairs, said at a seminar themed
"Rise of the golden crescent - doing business in the Middle
East".
Trade between Singapore and the Middle East countries increased 42
percent between 2004 and 2006 to reach 48 billion U.S. dollars while the
figures are predicted to grow faster in the next few years, according to
Rasheed.
Seeing many opportunities that the Middle East has offered for
Singapore's businesses, Rasheed called it "a new frontier" for
Singapore.
2008-03-17 |
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