Singapore and Qatar reaffirm commitment to further economic cooperation

Singapore and Qatar have reaffirmed their commitment to further economic and bilateral cooperation. When Minister Mentor Lee Kuan Yew met with the Amir of Qatar, Sheikh Hamad Khalifa al-Thani, both leaders discussed a range of issues, which included how Singapore could be a part of Qatar's economic development. Qatar is keen to have Singapore as a partner in its economic development as it aims to become the economic hub in the region. Qatar wants to learn from Singapore's own developmental experience and know-how.

In 2004 Qatar was Singapore's 22nd largest trading partner, with S$3.6 billion worth of trade, a jump of 40% over the previous year. Singapore and Qatar have already completed negotiations on their Free Trade Agreement last year. And now Singapore is looking forward to formalising the agreement by signing the Singapore-Qatar FTA.

Minister Mentor Lee's visit is an important one - to keep up the momentum of contacts at the political level and to explore what more can be done to push for more economic cooperation. Both leaders also discussed and exchanged views on regional and international developments. They recognised that the world is changing and there's a need to keep up and adjust to the evolving global environment.

- Hmm, "economic and bilateral cooperation". Anything to do with Qatar's natural gas reserves?

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