By Joey Aguilar/Staff Reporter
Citing “very strong” bilateral relations with Qatar, Singapore’s Ambassador Wong Kwok Pun has told Gulf Times that the number of Qatari investments in his country continues to grow.
The envoy noted the presence of large Qatari companies in Singapore such as Qatar Petroleum International, Ooredoo and Tasweeq. Further, he said Katara Hospitality owns Raffles Hotel while Doha Bank and QNB also have investments in Singapore.
“I would say that the future is exciting for us. We have essentially identified niche areas and push on them,” said Pun.
The ambassador was speaking on the sidelines of the Smart Nation roundtable discussion recently.
Gulf Times had earlier reported that the GCC-Singapore Free Trade Agreement (GSFTA) came into force in September last year.
The GSFTA allows Singapore-based companies, Singapore nationals and permanent residents to hold majority stakes in key sectors of the GCC markets.
“We have an avoidance of double taxation and are putting in place the framework where we can build bilateral co-operation,” he added.
Speaking on opportunities for further co-operation, the ambassador said: “Both of us (Qatar and Singapore) are globalised, we want to link up to the rest of the world. In information, communication and technology, there are a lot of opportunities for working together. So far, it has been very encouraging and is a multifaceted and synergistic relationship.”
The Singaporean embassy recorded $8bn worth of trade in 2012, 3.8% higher than the previous year.
“While most of the trade is Singapore buying oil and gas from Qatar, it does not bother us because we are in fact buying so that we can sell it to other markets,” he pointed out.
The two countries also have joint investments in Qatar in environment technology, such as the Keppel Group’s domestic solid waste management plant and wastewater treatment. Keppel will operate and maintain the plant for 20 years.
Other areas of co-operation include education, public administration and infrastructure logistics.
Telecommunications, electrical and electronic equipment, petrochemicals, jewellery, machinery and iron and steel-related industries can also be explored by both Qatari and Singaporean businesses to enhance co-operation and facilitate bilateral trade relations.
About tourism opportunities, the Singapore Tourism Board Middle East and Africa recorded an increase in the number of visitors from Qatar in 2013.
A total of 11,809 tourists from Qatar visited Singapore in 2013, a 27% increase as compared to the 2012 figures.
Wong Kwok Pun
