Singapore and Qatar Sign Agreement on Economic, Commercial and Technical Cooperation

SINGAPORE AND QATAR SIGN AGREEMENT ON ECONOMIC, COMMERCIAL AND TECHNICAL COOPERATION

Singapore and Qatar today signed an Agreement on Economic, Commercial and Technical (ECT) Cooperation. Under the Agreement, both parties resolve to promote cooperation in areas such as energy, communications, transportation, construction, labor and tourism. Both sides also seek to encourage and facilitate greater cooperation and exchange between the private sector players of both countries.

The agreement was signed by Singapore's Minister of State for Trade and Industry, Mr. Lee Yi Shyan, and Qatar's Minister for Finance and Acting Minister for Economy and Commerce, His Excellency Mr. Yousef Hussain Kamal, during the official visit of the Qatari Heir Apparent His Highness Sheikh Tamim Bin Hamad Bin Khalifa Al-Thani on 29 October 2007, at the sidelines of the 2nd Qatar-Singapore High Level Joint Committee Meeting.

This Agreement is a demonstration of the growing bilateral economic relations between Qatar and Singapore. Trade and Investments figures between Qatar and Singapore have been growing strongly in recent years. Bilateral trade reached $4.15 billion in 2006 consisting mainly petroleum crude, refined petroleum products and civil engineering equipment parts.

MINISTRY OF TRADE AND INDUSTRY, SINGAPORE
29 OCTOBER 2007