Media ININ Economy We Trust
MediaIn – Singapore February 9, 2018 and WAM
Trade between the UAE and the Republic of Singapore was more than AED 18.3 billion in 2016, while direct investments from Singapore to the UAE by the end of 2015 were estimated at AED 8.8 billion, with UAE investments worth AED 10 billion.
Minister of Economy, Sultan bin Saeed Al Mansouri said that the joint desire of the UAE and Singapore to promote bilateral trade and investment channels, particularly in the period of recovery of the global economy, coincides with the efforts of the State to achieve a breakthrough in its relations with the countries of Asia as a whole, In particular.
He pointed out that the value of non-oil trade with Asian countries exceeded 450 billion dirhams, according to the 2015 statistics. He noted the positive effects of the free trade agreement between Singapore and the GCC countries, which came into effect in 2015, Businesses, and investment institutions in both countries to benefit from the supporting facilities provided for in that agreement.
This came during the opening of the Singapore-Emirati Business and Investment Forum, hosted by Singapore.
Al-Mansouri pointed to several trade and economic agreements covering all areas of economic, commercial and technical cooperation, air services, free trade and agreements to prevent double taxation and protecting and promoting investments.
