MOS Koh Poh Koon oral reply to PQ on strengthening economic ties with African nations

Questions

Mr Saktiandi Supaat: To ask the Minister for Trade and Industry (Industry) since the signing of several agreements at the Africa-Singapore Business Forum in August 2016 (a) what are some of the specific projects that will be taking off; and (b) how can we further strengthen economic ties with African nations.

Oral reply (to be attributed to Minister of State Dr Koh Poh Koon)

1.Africa is a diverse continent of 54 countries. Positive demographics, growing middle class consumption and rapid urbanisation are driving growth in Africa. As a region, it has been forecast to grow faster than the global average in the next five years. 

2.To promote greater awareness and understanding of Africa and its opportunities, we have been facilitating bilateral visits between Singaporean and African government officials, as well as business communities. The biennial Africa Singapore Business Forum organised by International Enterprise Singapore is one such platform which brings together government, business and thought leaders from Singapore and Africa. The Singapore Business Federation has been active in organising regular business missions to different African markets. These exchanges create opportunities for Singapore companies to find opportunities for collaboration with African partners.

3.To support stronger economic ties with African countries, we have also entered into government-to-government agreements to establish frameworks that support trade and investment activity. In 2016 for example, we signed Bilateral Investment Treaties with Nigeria and Mozambique; an Avoidance of Double Taxation Agreement with Ethiopia; and an Air Services Agreement with Nigeria.

4.We are encouraged to see a number of Singapore-based companies undertaking significant projects in Africa. Where Singapore’s experience and innovative solutions are a good match for Africa’s needs, long-term partnerships are being forged.  For example, Hyflux has embarked on its first township development project in Tanzania. E-government solutions company CrimsonLogic has implemented electronic platforms in Kenya and Rwanda to digitize trade documentation. One of our SMEs, YuuZoo, a digital platform provider, has also launched an SME-focused e-commerce platform in Nigeria. International Enterprise Singapore will continue to partner Singapore companies as they continue their internationalization journey in Africa and elsewhere.