31st Jan 2008
DOHA • Qatar and Singapore are in the final stages of negotiating a free trade deal, it was announced at a Qatar-Singapore Friendship Forum here yesterday.
The deal would provide excellent trade and investment prospects to the private sectors of the two countries, Forum officials said.
A 35-member trade mission from Singapore is here led by the former Premier and currently senior minister in the country's cabinet, Goh Chok Tong. The mission members met Qatari businessmen at the Qatar Chamber of Commerce and Industry (QCCI) earlier in the day.
"It was a successful interaction," Shae Toh Hock, Vice-President of Singapore-based ST Engineering, and Hendrie Lee Soon Thiam, of SSB Cryogenic, told this newspaper.
In other major developments at the Forum, the Qatar Investment Authority (QIA) concluded a Memorandum of Understanding (MoU) with a Singapore-based Keppel to conduct a joint feasibility study to assess the extent of investment in a major eco-city project to be launched in China.
Hussein Ali Al Abdullah, member of the QIA board who signed the agreement with Keppel Corporation's Executive Chairman, Lim Chee Onn, later told reporters the size of the investment will be decided after the study.
The Public Works Authority, on the other hand, unveiled foundation stone for the Doha North Sewage Treatment Works with Keppel, which is designing and building the project.
The forum was held by the Qatari Businessmen's Association (QBA) in cooperation with the Singapore Businessmen Federation (SBF). The QBA also signed an agreement with SBF to further cooperation in trade and investment in their two countries.
Sheikh Faisal bin Qassem Al Thani, the chairman of QBA, signed an MoU with Teng Theng Dar, of the SBF. The latter is also vice-chairman of Singapore's Middle East Business Cooperation, the country's private sector initiative to bolster business ties with companies in the Middle East and North Africa (MENA).
Later, the QBA inked another MoU with Spring Singapore for enterprise development. The deal is basically aimed at aiding small and medium enterprises in Qatar.
Earlier, addressing the Forum, Goh Chok Tong said Singapore companies were becoming more familiar with Qatar. "They are upbeat about the business opportunities here," he said.
"Several of them have joined me on this visit because they are keen to participate in and contribute to Qatar's growth."
The contract awarded by the Public Works Authority (Ashghal) to Keppel to design and build Qatar's largest waste water treatment plant is an example of how Doha would leverage on Singapore's strengths in urban infrastructure development, said Chok.
The Minister of Finance and Acting Minister of Economy and Commerce, H E Yousef Hussein Kamal, told the Forum Qatar and Singapore's mutual relations were growing deeper.
"The business associations from the two countries can help further enhance ties between the private sectors of the two countries," he said.http://www.thepeninsulaqatar.com/Display_news.asp?section=Business_News&subsection=Local+Business&month=January2008&file=Business_News2008013174254.xml
