There is “great potential” for both Qatar and Singapore to deepen economic relations, such as the opportunities for collaboration between the oil and gas and petrochemical companies of both countries, Singaporean ambassador Jai Sohan Singh has said.
According to Singh, Singapore enjoys “excellent relations” with Qatar, underpinned by strong political and economic co-operation. The ambassador noted that the trajectories of growth and development of the two countries show that “success does not depend on size,” referring to both the countries’ geographical areas.
In 2019, Singapore’s volume of trade-in-goods with Qatar amounted to more than 8.6bn Singaporean dollars (around $6.5bn), although this figure had taken a dip in 2020 given the Covid-19 pandemic, he said.
“The bulk of our trade with Qatar lies in the oil and gas sector. As one of the world’s largest LNG producers, Qatar remains an important source of natural gas imports for Singapore.
“As part of Singapore’s Long-Term Low Emissions Development Strategy (LEDS), more than 95% of our energy needs are currently supplied by natural gas, which is likely to continue for the next 50 years,” Singh told Arabic newspaper Al Rayyah.
According to Singh, “as small states, Singapore and Qatar share many similarities,” adding that the close bilateral relationship of both the nations is firmly based on the Qatar-Singapore High-Level Joint Committee.
“His Highness the Amir Sheikh Tamim bin Hamad al-Thani made a State Visit to Singapore in October 2017, and we have seen regular exchanges of visits at various levels over the past few years. We have a range of bilateral agreements in various sectors, including a Bilateral Investment Treaty, which was concluded during His Highness the Amir’s visit.
“The Singapore Business Council Qatar (SBCQ) was also launched during the visit. Companies can use the SBCQ as a platform to explore investment opportunities. There are synergies that can be tapped into, particularly in areas, such as urban planning, environmental and water management, e-government, and digitisation,” Singh pointed out.
Singh reiterated that his country welcomes the plan of Qatar to boost its investments in Asia, noting that Qatari investments in Singapore stood at $1.3bn in 2018 in sectors like financial, insurance, and real estate.
“Singapore and Qatar are strong economic partners and both the countries serve as aviation hubs within their respective regions. Both Singapore and Qatar are also active, responsible and constructive members of the international community,” the ambassador noted.
According to Singh, Singapore enjoys “excellent relations” with Qatar, underpinned by strong political and economic co-operation. The ambassador noted that the trajectories of growth and development of the two countries show that “success does not depend on size,” referring to both the countries’ geographical areas.
In 2019, Singapore’s volume of trade-in-goods with Qatar amounted to more than 8.6bn Singaporean dollars (around $6.5bn), although this figure had taken a dip in 2020 given the Covid-19 pandemic, he said.
“The bulk of our trade with Qatar lies in the oil and gas sector. As one of the world’s largest LNG producers, Qatar remains an important source of natural gas imports for Singapore.
“As part of Singapore’s Long-Term Low Emissions Development Strategy (LEDS), more than 95% of our energy needs are currently supplied by natural gas, which is likely to continue for the next 50 years,” Singh told Arabic newspaper Al Rayyah.
According to Singh, “as small states, Singapore and Qatar share many similarities,” adding that the close bilateral relationship of both the nations is firmly based on the Qatar-Singapore High-Level Joint Committee.
“His Highness the Amir Sheikh Tamim bin Hamad al-Thani made a State Visit to Singapore in October 2017, and we have seen regular exchanges of visits at various levels over the past few years. We have a range of bilateral agreements in various sectors, including a Bilateral Investment Treaty, which was concluded during His Highness the Amir’s visit.
“The Singapore Business Council Qatar (SBCQ) was also launched during the visit. Companies can use the SBCQ as a platform to explore investment opportunities. There are synergies that can be tapped into, particularly in areas, such as urban planning, environmental and water management, e-government, and digitisation,” Singh pointed out.
Singh reiterated that his country welcomes the plan of Qatar to boost its investments in Asia, noting that Qatari investments in Singapore stood at $1.3bn in 2018 in sectors like financial, insurance, and real estate.
“Singapore and Qatar are strong economic partners and both the countries serve as aviation hubs within their respective regions. Both Singapore and Qatar are also active, responsible and constructive members of the international community,” the ambassador noted.