Singapore and the UAE to launch economic partnership negotiations to further trade, investment links

Mr Wong said they exchanged views on regional developments and the importance of restoring peace and stability. They also discussed how to strengthen ties between the Association of Southeast Asian Nations (ASEAN) and the Gulf Cooperation Council (GCC). 

Singapore will chair ASEAN in 2027, where both nations hope to advance talks toward an ASEAN–GCC Free Trade Agreement, Singapore and UAE said in a joint statement.

Singapore and the UAE commemorated 40 years of diplomatic relations last year, and total non-oil bilateral trade reached around US$6.5 billion last year, up 25 per cent from the year before.

In a joint statement, the two countries said they agreed to work towards further expanding trade and investment ties, and welcomed Singapore state investor Temasek’s announcement that it would deepen its presence in the UAE by opening an office in Abu Dhabi. 

Temasek announced last month that it plans to open offices in Riyadh and Abu Dhabi in the first half of next year, subject to approvals. That would bring Temasek’s global network to 15 offices in 11 countries.