Singapore, UAE ink economic cooperation pact, eye FTA
Friday March 11, 2005
Singapore, UAE ink economic cooperation pact, eye FTA
(Kyodo) - Singapore and the United Arab Emirates signed Friday an economic, trade and technical cooperation pact that could lead to the launch of negotiations for a free trade deal between the two countries, Singapore’s Trade and Industry Ministry said Friday.
The pact calls for collaboration in areas such as trade, industry, transport and logistics services, infrastructure development, oil and gas services, education, tourism, and investment.
"This agreement would also lead to the launch of negotiations for a bilateral free trade agreement between the UAE and Singapore," the ministry said in a statement.
Singapore signed an FTA with Jordan in May last year — its first such pact with a Middle East country, and is currently in talks to sign such deals with Bahrain, Egypt, Kuwait and Qatar.
UAE Economy and Planning Minister Lubna Khalid Al Qassimi, who signed the agreement, is currently on a two-day visit to Singapore with a high-level delegation of around 50 government officials and business leaders as part of her tour of the region.
Singapore has already signed free trade deals with Japan, the United States, Australia, New Zealand, Jordan and the European Free Trade Association and is currently in negotiations with about a dozen other nations.
