(MENAFN- Qatar News Agency) Qatar Chamber of Commerce and Industry hosted on Tuesday a meeting between Qatari businessmen and their Singaporean counterparts. The Singaporean trade delegation was headed by Director of Middle East and Africa, the Singapore Business Federation, Cody Lee. Khalid Jabor bin Towar Al Kuwari, QCCI board member, said that QCCI hopes to boost the growing ties between Qatar and Singapore, saying that last month saw a historic moment and a quantum leap in the relations between Singapore and Qatar when a free trade agreement between the Gulf cooperation Council (GCC) and Singapore entered into force. The agreement, the first of its kind, allowed countries outside the Middle East region to have free trade with the GCC member states. Al Kuwari told the meeting that the agreement aims to facilitate the trade and investment procedures for Qatari and Singaporean companies in order to have increasing role in the economic development of Qatar by removing obstacles and providing investment opportunities, adding that the agreement will give an opportunity for the two countries to grow and prosper and enjoy broader relations and fruitful cooperation over the long term. He said that the trade and business relations between Qatar and Singapore have witnessed remarkable progress over the past years, saying that the total trade between the two countries rose from $5.5 billion in 2009 to $6 billion in 2010. Al Kuwari pointed out that Qatar is currently Singapores 3rd largest trading partner in the GCC, and is ranked 21st in the volume of trade exchange in the world.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.