SINGAPORE – Singapore and the United Arab Emirates (UAE) are set to begin talks on a comprehensive economic partnership agreement that seeks to create new opportunities for businesses on both sides.
The deal, which is similar to a free trade pact, will facilitate trade and investment flows and deepen economic integration between the two nations, said the Ministry of Foreign Affairs (MFA) in a statement on Oct 21.
Prime Minister Lawrence Wong and UAE President, Sheikh Mohamed bin Zayed Al Nahyan, announced plans to start negotiations on the agreement at a meeting in Abu Dhabi between ministers and senior officials from both sides.
The Oct 21 meeting was part of PM Wong’s five-day visit to the Middle East, which started on Oct 18 in Qatar.
At the meeting, Singapore and the UAE also agreed to form a joint energy task force to identify fresh opportunities across the energy value chain, from trading to infrastructure to downstream activities.
The task force comprising Singapore’s Ministry of Energy, Trade and Industry and the Abu Dhabi National Oil Company will come under the scope of the Abu Dhabi-Singapore Joint Forum (ADSJF), said MFA.
The ADSJF, which held its 17th edition in Singapore in September, is an annual platform for both countries to strengthen their economic ties and explore new areas of shared interest.
Singapore and the UAE said in a joint statement that the task force is part of efforts to strengthen bilateral cooperation on enhancing energy security and supporting their energy transition ambitions.
They added that both sides welcome their ongoing cooperation in nuclear energy – the Emirates Nuclear Energy Company and Singapore’s Energy Market Authority had inked a deal in 2024 to collaborate in developing nuclear energy capabilities.
Another agreement from the meeting seeks to enhance collaboration between Singapore and the UAE on water management, water technology development and capability building.
The renewal of the deal, which was first inked by national water agency PUB and the Abu Dhabi Department of Energy in 2018, will also strengthen cooperation in advancing water sustainability and resilience, said PUB on Oct 21.
Read Full Article At Source


