Qatar, Singapore sign four MoUs to enhance bilateral trade
October 17 2017 08:20 PM
Qatar, Singapore sign four MoUs
Qatar, Singapore sign four MoUs

Doha

The MoUs target joint investment projects in agriculture, construction, training and consultancy

HE the Minister of Economy and Commerce Sheikh Ahmed bin Jassim bin Mohamed al-Thani and S. Iswaran, Singapore’s Minister of Trade and Industry, attended the signing of four memoranda of understanding between Qatar Chamber, the Singapore Business Federation and a number of companies specialised in training and consultancy services, agriculture, and construction.

The signing ceremony was held on the sidelines of the Qatar-Singapore Economic Forum organised by the Ministry of Economy and Commerce in cooperation with Singapore’s Ministry of Trade and Industry yesterday.

The MoU between Qatar Chamber and the Singapore Business Federation aims at enhancing trade and investment between the business communities of both countries through the facilitation of the direct exchange of information, business delegations, and the promotion of business opportunities.

Sheikh Khalifa bin Jassim bin Mohamed al-Thani, Qatar Chamber chairman, and Teo Siong Seng, chairman, Singapore Business Federation, co-signed the memorandum.

Sheikh Ahmed also attended the signing of an MoU between Al Khaleejia Business Management, a member of the Taleb Group, and Educare International Consultancy Private Limited.

The MoU will explore the possibilities of collaboration with Taleb Group as a partner to bring Educare’s training and consultancy services to Qatar.

Both parties will also seek to organise workshops, seminars and conferences to promote the exchange of knowledge and scientific publications, implement joint professional development and leadership projects, in addition to establishing educational institutions.

Mohamed Taleb al-Khauri, managing director, Al Khaleejia Business Management Company and Alex Shieh, director, Strategic Development at Educare International Consultancy co-signed the MoU.

A third memorandum of understanding was signed between Al Adekhar Agricultural Company, a member of Taleb Group, and Cutech Group.

The MoU aims at collaborating on a feasibility study to assess joint partnership opportunities in the areas of organic chicken farming, and eventually establishing a company in Qatar.

Al-Khauri, also managing director of Al Adekhar Agricultural Company and N. Arunachalam, chairman, Cutech Solutions and Services co-signed the MoU.

A fourth memorandum of understanding was signed among Qatar Primary Materials Company (QMPC), EnGro Corporation, and Al Wattan International Trading and Contracting Company, a member of Taleb group. The MoU aims at establishing a joint venture for the export and supply of raw materials and cement.

Eisa al-Hammadi, Qatar Primary Materials Company chief executive officer, Tan Cheng Gay, chairman & CEO, EnGro Corporation; and Mohamed Taleb al-Khauri, managing director, Taleb Group Company, co-signed the MoU.

"The memoranda of understanding will contribute to the development of trade and economic relations between Qatar and Singapore and enhance communication and cooperation between both nations’ private sectors," MEC said in a statement yesterday.

The MoU will also contribute to the development of mechanisms and measures for the establishment of joint investment projects.

The Qatar-Singapore Economic Forum marks an important milestone in the development of economic, investment and trade cooperation between the two countries. During the forum, the Ministry of Economy and Commerce highlighted the advantages of investing in Qatar and how Singapore’s private sector can benefit from the incentives provided by the state to foreign investors. Participants also discussed the importance of developing long-term economic cooperation mechanisms, enabling Qatari companies to draw lessons from the success of their Singaporean counterparts.

Singapore ranks as Qatar’s 7th largest trade partner, with a total of $3.5bn worth of traded goods in 2016.

The value of Qatar's exports to Singapore stood at about $ 3bn in 2016, while Singapore's exports to Qatar reached more than $350mn in 2016.



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