(MENAFN- Gulf Times) HE the Minister of Economy and Commerce Sheikh Ahmed bin Jassim bin Mohamed al-Thani highlighted 'promising opportunities and the 'prosperous future for Qatar-Singapore economic and trade relations during the ‘Qatar-Singapore Economic Forum' held in Singapore yesterday.
Sheikh Ahmed and Singapore's Minister of Trade and Industry S Iswaran participated in the forum, which featured two workshops where Qatari officials reviewed major investment projects for the FIFA 2022 World Cup, transportation, challenges and opportunities for Qatari-Singaporean cooperation, and Qatar's challenges in the energy sector.
The minister highlighted the competitiveness of the Qatari economy and the numerous incentives it offers to investors, while praising economic and trade relations between Qatar and Singapore.
He said Qatar has achieved significant growth driven by an increase in the contribution of the oil and non-oil sectors to GDP. Qatar has continued to achieve stable real GDP growth rates of 3.3% over the last three years despite fluctuations in oil prices, he said.
The minister said Singapore ranks as Qatar's seventh largest trade partner with a total trade of $3.5bn. Qatar's exports to Singapore reached $3bn in 2016. On the other hand, Singapore's exports to Qatar stood at more than $350mn in 2016.
Sheikh Ahmed also underscored Qatar's strategic location, which contributes to increasing its attractiveness as an investment destination. He also shed light on the country's advanced infrastructure and its position as the world's largest natural gas exporter.
He noted that Qatar is highly-competitive in the energy market thanks to its rich natural gas and oil resources, adding that the nation is also the world's leading exporter of liquefied natural gas and helium, and the fourth-largest producer of Urea in the world.
Sheikh Ahmed stressed that Qatar also succeeded in delivering an array of world-class infrastructure projects over the past few years. These include Hamad International Airport, one of the world's largest airports, that will soon accommodate 50mn passengers annually, and Hamad Port, which with a capacity of 7.5mn containers.
Qatar also hosts an advanced network of highways while its globally leading carrier, Qatar Airways, connects the country to more than 150 destinations worldwide, he stressed.
The minister said Qatar is currently working on issuing a Public Private Partnership Law that will facilitate the establishment of new projects in the areas of health and education, among other sectors.
Iswaran lauded the 'distinguished relations between the two countries, noting that Qatar represents a strategic trading partner for Singapore, which imports the bulk of its natural gas needs from Qatar. The Singaporean minister also praised the economic forum and highlighted 'promising bilateral opportunities and productive partnerships. Page 16
'Qatar has succeeded in delivering an array of world-class infrastructure projects over the past few years. These include Hamad International Airport, one of the world's largest airports, that will soon accommodate 50mn passengers annually, and Hamad Port, which with a capacity of 7.5mn containers
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