Qatar, Singapore… Distinguished Historic Relations and Great Investment Opportunities

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Doha, June 20 (QNA) – The visit of HE the President of the Republic of Singapore Halimah Yacob to Doha comes within the framework of the strong and developing relations between the two countries, as well as the Qatari policy aimed at building bridges of cooperation and coordination with all fraternal and friendly countries and people of the world.

HH the Amir Sheikh Tamim bin Hamad Al-Thani is set to receive HE President Halimah Yacob at the Amiri Diwan to discuss the existing cooperation between the two countries and ways to support and enhance them in all fields, especially economic, commercial, industrial, and investment field, as well as in the energy sector.

The State of Qatar and the Republic of Singapore have strong bilateral relations, which are constantly evolving and witnessing continuous prosperity and growth in various fields of cooperation and partnership.

Diplomatic relations between the two countries date back to 1984, when they were established at the level of non-resident ambassadors. The State of Qatar opened an embassy in Singapore in October 2007, and the Republic of Singapore opened its embassy in Doha in September 2006. Since the establishment of diplomatic relations, the two countries have committed themselves to forming a comprehensive and strategic partnership and expressed a mutual desire to develop and strengthen the existing relations between them in various fields, which has made the two governments and peoples closer to each other year after year.

Relations between the two countries were strengthened through a series of official visits at the highest levels and at the ministerial level. The most prominent of these visit was the state visit of HH the Amir Sheikh Tamim bin Hamad Al-Thani to the Republic of Singapore in October 2017.

During the visit, HH the Amir Sheikh Tamim bin Hamad Al-Thani met HE the President of the Republic of Singapore Halimah Yacob at the Istana, where Her Excellency welcomed HH the Amir to Singapore, stressing that the visit will give a positive impetus to the relations between the two countries. In turn, HH the Amir emphasized the importance of relations between the two countries, looking forward to opening broader horizons of joint cooperation. During the meeting, they reviewed bilateral relations between the two countries and their development in various fields of mutual benefit to both sides. A number of regional and international issues of common concern were also discussed.

During the visit, HH the Amir and HE Prime Minister of the Republic of Singapore Lee Hsien Loong held an official talks session at the Istana, which dealt with ways to enhance bilateral cooperation, as the two sides reviewed the work of the Qatar – Singapore High Level Joint Committee. HH the Amir and HE the Singaporean Prime Minister placed emphasis on the Joint Committee as the main pillar of bilateral cooperation between the two countries. Both HH the Amir and HE the Singaporean Prime Minister agreed on the importance of strengthening this existing cooperation, and on establishing a mechanism to monitor implementation within the framework of the High Level Joint Committee between the two countries to ensure periodic follow-up of the initiatives and their optimal implementation. The discussions also dealt with the overall current regional and international developments.

HH the Amir and the Prime Minister of the Republic of Singapore witnessed the signing of a number of agreements and MOU between the governments of the two countries, which covered the encouragement and protection of investments, research and development activities, training and the judiciary.

Coinciding with the visit of HH the Amir Sheikh Tamim bin Hamad Al-Thani to the Republic of Singapore, the Qatar-Singapore Economic Forum was held. During it, the advantages of the Qatari economy and the incentives it provides to investors were highlighted, along with the importance of the strategic location of the State of Qatar, which strengthened its attractiveness for investments, its advanced infrastructure, and its position as the world’s largest exporter of natural gas.

Within the framework of the Forum, the Qatar Chamber of Commerce and Industry, the Singapore Business Federation and a number of companies specialized in the consulting, training, agricultural and construction sectors from Qatar and Singapore signed 4 MOU, which contribute to expanding trade and economic relations between the two countries, and enhancing communication and cooperation between the private sectors, in addition to developing mechanisms and procedures for establishing joint investment projects. 

Within the framework of the mutual visits, HE Prime Minister and Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman bin Jassim Al-Thani visited the Republic of Singapore last August as part of an Asian tour. His Excellency meet with HE the President of the Republic of Singapore Halimah Yacob at the Istana. The meeting emphasized the close relations between the two countries as they share a common interest in promoting a rules-based global order and enhancing international cooperation.

HE also met with a number of senior ministers and officials there and discussed with them bilateral cooperation relations, especially in the fields of economy, investment, education and training, in addition to activating joint committees and enhancing cooperation in several fields, especially in the fields of investments, trade exchange, energy security and benefiting from the exchange of economic experiences in the two countries, in addition to food and health security, the future of energy and clean energy and the latest international developments and common challenges.

In an indication of the keenness and desire of the two countries to develop their bilateral relations in various fields, the Qatar – Singapore High Level Joint Committee was established in 2006 as a platform to enhance bilateral cooperation, which resulted in substantial bilateral projects and solid cooperation between the two countries. More than 28 agreements were signed through the Committee in various fields of cooperation.

In October of last year, the Qatar Financial Centre (QFC) signed a MOU with Enterprise Singapore aimed at enhancing mutual investment opportunities between the two countries. In the context of the visit of the QFC delegation to Singapore, the Embassy of the State of Qatar hosted an evening reception, during which the QFC delegation introduced partners, business leaders and other stakeholders interested in the sports and information and communication technology sectors in Singapore to the advantages of the rapidly growing digital sector in Qatar, whose value amounted to around $4.4 billion in 2021, with volume of spending expected to reach $9 billion by 2024, in addition to the sports sector, which has a value of around $20 billion. 

The State of Qatar is Singapore’s third largest trading partner in the Middle East, and it is a major investor in Singapore. Singapore was Qatar’s sixth largest trading partner in 2020.

Singapore is a geographically small and very developed country located in Southeast Asia at the southern tip of the Malay Peninsula between Malaysia and Indonesia. Its total area is 710 square kilometers and has a coastline of 193 km. It is separated from Indonesia by the Singapore Strait and from Malaysia by the Johor Strait. The estimated population of Singapore is around six million people, and Singapore is the 4th most important financial center in the world and a global city that plays an important role in the global economy. The Port of Singapore is the 5th port in the world in terms of activity. In terms of airports, ports and road networks, it is among the best in the world.

The island gained its independence in 1959, when its historic leader Lee Kuan Yew took over the reins of power. He led the process of transformations that rightfully placed Singapore on the world map as a clear example of the ability to work, perseverance, success of economic development, and moving forward on the path of modernization. (QNA)

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