Saturday, 18 November 2017 04:02 GMT
img

UAE and Singapore investments set to boost bilateral ties

(MENAFN - Khaleej Times) Bilateral trade climbs 28% to dh18 billion in 2013

ahmed mahboob receiving cheong ming foong in dubai. — supplied photo

dubai is a major trade hub between the east and the west as is the case with singapore which is an important gateway for far eastern markets.

this was affirmed by cheong ming foong consul general of the republic of singapore in dubai during a high-level visit to dubai customs to reinforce bilateral ties. the consul general was accompanied by the commercial counsellor lester lu.

“there is a remarkable resemblance between dubai and singapore that we can build on to create a kind of integration that serves the global economy” ming foong said.

“singapore highly values what dubai has achieved so far and the emirate’s outstanding experience is globally acclaimed. the swift and streamlined customs clearance procedures adopted in dubai make the emirate a destination of choice for singaporean traders and businesses working in import and export from and to middle eastern countries” he added.

lester lu said the availability of advanced infrastructure in seaports and airports and integrated array of government services offered to traders and freight companies is a further asset to the emirate.

“such facilities not only save time and cost but also boost bilateral relations and make dubai the best gateway to extend their reach into the region’s larger marketplace.”

lester lu pointed out that there are over 250 singaporean companies operating in the uae in divers sectors such as energy construction banking logistics trade telecommunication real-estate investment electronics media technology and aviation.

“as is the case for dubai singapore is economically and commercially open to the world with 26 free trade agreements linking it to various countries and economic groups worldwide.” there are numerous uae-singapore investments in both countries which boost the sustainability of their longstanding ties” he noted.

director dubai customs ahmed mahboob while praising the solid relations linking the uae and the singaporean state and people said singapore is one of dubai’s leading trading partners in asia.

“dubai-singapore bilateral trade grew 28 per cent in 2013 to dh18 billion — dh7 billion for imports dh6.7 billion exports and dh4.3 billion re-exports.”

dubai customs strive to boost trade by delivering exceptional services that best respond to the expectations of singaporean traders and investors as well as local and international companies he explained.

“dubai customs is committed to supporting the dubai-singapore commercial and economic relations by addressing the needs of singaporean traders and investors and enabling them to have a real added value for their business operations in dubai.”

“dubai customs in a bid to maximise partners’ financial returns and make dubai the most cost-effective destination for doing business offers top-notch customs facilitation” mahboob said.

he further noted the vibrant role played by the dubai logistics corridor one of the largest multi-modal logistics platforms in the world which links sea land and air and bridges jebel ali port jebel ali free zone dubai logistics city and al maktoum international airport.

“the launch of this corridor has significantly improved the flow of sea-to-air cargo.”


UAE and Singapore investments set to boost bilateral ties

  Most popular stories  

Day | Week | Month