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SM Goh will be accompanied by Minister of State for Education RADM (NS) Lui Tuck Yew, Member of Parliament and Chairman of the Parliamentary Group on the Middle East Dr Ahmad Magad and senior government officials.
The 35-member strong business delegation will be led by Mr. Teng Theng Dar, Vice-Chairman of the SBF Middle East Business Group (MEBG). The MEBG, a business platform to help Singapore businesses tap into the opportunities in the emerging Middle East and North African markets, was launched in March 2007 by SM Goh, together with His Excellency Sheikh Salman bin Hamad Al-Khalifa, Crown Prince of Bahrain. The delegation comprises senior representatives from diverse industries including trading, oil & gas services, banking & financial services, ICT, utilities, engineering & construction, real estate, law and pharmaceuticals.
The objective of the mission is to enable participants to gain first-hand understanding of the overall market dynamics and emerging sectors of Qatar and United Arab Emirates. More importantly, the mission seeks to help Singapore businesses establish useful business and official contacts with the two countries.
In addition to information seminars organized by the relevant ministries and government agencies, industrial visits and business-matching sessions, the highlight of the business mission will be the inaugural Qatar-Singapore Business Forum (QSBF) to be held in Doha, where SM Goh, who is Guest-of-Honour, will be delivering an address. The QSBF is a joint effort put together by the Qatari's and Singapore's government and business communities, with SBF and the Qatari Businessmen Association (QBA) fronting it. QBA is an exclusive association formed by key Qatari businesspersons and think-tanks for the promotion of diversified investment flows, modern entrepreneurial spirit and corporate development in Qatar.
QSBF aims to profile Singapore's business competence and open doors for possible collaborations between Singapore businesses with the Qatari and Emirati counterparts.
Attendees of the Forum will also witness the unveiling of the foundation stone for the Doha North Sewage Treatment Works. Keppel Seghers, a member of the Infrastructure division of Keppel Corporation Limited, was awarded the abovementioned Design-Build-Operate contract amounting to about QR3.6 billion (approximately S$1.5 billion) from ASHGHAL, the Public Works Authority (PWA) in Qatar on 27 September 2007. The contract is to design and build the largest greenfield wastewater treatment and water reuse facility in Qatar and the Middle East, and subsequently operate and maintain this facility for 10 years.
SBF and QBA will also be signing a Memorandum of Understanding (MOU) agreement during the Forum. The sealing of this MOU will facilitate exchanges to pursue business cooperation, share information, experiences and explore business opportunities, thereby spurring bilateral trade between the countries. QBA will also be signing an MOU with SPRING Singapore to facilitate exchanges of experience on the development of SMEs.
SBF and QBA will also be signing a Memorandum of Understanding (MOU) agreement during the Forum. The sealing of this MOU will facilitate exchanges to pursue business cooperation, share information, experiences and explore business opportunities, thereby spurring bilateral trade between the countries. QBA will also be signing an MOU with SPRING Singapore to facilitate exchanges of experience on the development of SMEs.
With globalization and increased competition, SBF, as an apex business chamber, has been proactively assisting Singapore companies to venture overseas to seek opportunities in new and emerging markets. The emerging markets in the Middle East are a key focus of the SBF particularly as the region's diversification from the Oil and Gas sector presents attractive trade and investment opportunities.
About Council of Saudi Chambers of Commerce and Industry
Qatar has been registering consistent GDP growth rates of 6.9% and 7.6% in 2006 and 2007. Besides attracting foreign investment in various oil and gas projects, the government is also attracting additional investments in infrastructure and real estate projects. The combination of oil and gas export revenues and foreign investment will assure strong economic growth in the next two years with a very low risk of economic recession.
UAE has also shown healthy GDP growth rates of 9.7% and 9.2% in 2006 and 2007 respectively. The mega-projects in Dubai and Abu Dhabi have led to rapid growth in the non-oil sectors, particularly the construction industry. The dynamic and competitive business environment will continue to attract substantial investment flows in the short term. High oil prices will continue to provide UAE with huge revenues to continue with its infrastructure-investment projects.
SBF plays a pivotal role in facilitating Singapore companies' market development efforts into the emerging Middle East region. More business-to-business exchanges will be expected to be organized in future by the Singapore Business Federation to drive further collaboration between business communities in Singapore and the Middle East.
Supplementary Information:
Business Mission to Qatar and United Arab Emirates 29 Jan - 3 Feb 2008
Qatar
SBF's activities:
Business Roundtable with the Former Minister of Qatar Commerce and Industry, Sheikh Mohamed Al Thani, 4 September 2006
In conjunction with the visit by Sheikh Mohamed Al Thani, the Former Minister of Qatar Commerce and Industry, SBF organized a business roundtable discussion for Sheikh Al Thani to share with our businessmen useful information on the emerging sectors in Qatar, as well as insights on conducting business in Qatar.
Besides sharing with the businessmen on upcoming projects in the Qatari Free Zones, Transport, Port, and Security sectors, Shiekh Al Thani also discussed key successful strategies of doing business in Qatar.
The roundtable discussion was attended by 15 senior representatives from a diverse mix of industries such as trading, healthcare, oil & gas, building & construction, electronics, engineering and electronics.
Singapore companies' presence in Qatar:
The following are some of the Singaporean companies which have business presence in Qatar.
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Jurong International: In February 2006, Jurong International was commissioned by Qatar's Ministry of Economy and Commerce to develop a 9 sq km Logistic and Storage Zone (LSZ). This is to meet the growing demands of shipping and trading in Qatar.
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Keppel Offshore & Marine Limited (Keppel O&M): In March 2006, Qatar Gas Transport Company Ltd. (NAKILAT) signed an agreement with Keppel Offshore & Marine Limited (Keppel O&M) through its wholly owned subsidiary, KS Investments Ltd., to jointly develop a world-class shipyard facility in the Port of Ras Laffan. The ship repair yard project is worth $430m and Keppel will play a key role in servicing the company¡¯s fast-expanding fleet of liquefied natural gas carriers.
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Keppel Integrated Engineering : In September 2006, Keppel Integrated Engineering (KIE) won a one-billion US dollar contract to build a waste management facility in the Gulf emirate of Qatar. KIE is to design and build the integrated solid waste management facility and operate and maintain it for 20 years
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Inter-Roller Engineering: In September 2007, Inter-Roller Engineering won a $58 million contract to design, supply and install a baggage-handling system at the New Doha International Airport in Qatar. Inter-Roller's latest deal with the Qatari airport brings the value of its new orders in 2007 to $126.7 million. The company expects the Doha project to be completed by September 2009 and to contribute substantially to its turnover and profitability from year 2007 to 2009. Inter-Roller is the fourth-largest player in baggage-handling systems worldwide
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The Islamic Bank of Asia: In October 2007, The Islamic Bank of Asia jointly led a transaction with DBS for Barwa (the government linked real estate development entity in Qatar) for US$600m, in the capacity of Mandated Lead Arranger.
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Bilateral Trade:
Trade between Singapore and the Qatar rose by 60.7% to S$6.67 billion in 2007. Overall, Qatar was Singapore's 21st largest trading partner in 2007.
Exports rose from S$287.8 million in 2006 to S$378.5 million in 2007. Key exports included civil engineering equipment parts, iron pipes fittings, telecommunication equipment, measuring equipments and petroleum products refined.
Imports also rose from S$182 million in 2006 to S$264 million in 2007. Main import items were civil engineering equipment parts, measuring instruments, telecommunication equipment, refined petroleum products and mechanical handling equipment.
Singapore's Trade with Qatar (Value in S$ Thousand)
| Trade |
2005 |
2006 |
2007 |
| Total Trade |
4,139,911 |
4,153,815 |
6,669,720 |
| Total Imports |
3,946,124 |
3,865,988 |
6,291,224 |
| Total Exports |
193,786 |
287,827 |
378.496 |
United Arab Emirates
SBF's activities:
UAE-Asia Investment Forum, 30 October 2006
As part of Global Entrepolis@Singapore 2006, the inaugural UAE-Asia Investment Forum was successfully held with Guests-of-Honour H.E. Dr. Ali bin Abdullah al Kaabi, Minister of Labour, United Arab Emirates and H.E. Lim Hng Kiang, Minister for Trade and Industry, attracting more than 250 participants.
This UAE forum saw the largest ever delegation from UAE with over 80 private and public sectors representatives from tourism, banking and investment, free zones and real estate such as powerhouse conglomerates like Dubai Properties, Akar Properties, Aldar Properties, Emirates Investment Group, Istithmar. The forum allowed our overseas speakers to present on the various key growing sectors in UAE.
During the forum the two Ministers also witnessed the signing of a Memorandum of Understanding (MOU) between Singapore Business Federation and the Abu Dhabi Chamber of Commerce, signifying the establishment of cooperation between the two chambers. In conjunction with the forum, the UAE Pavilion in the main GES exhibition hall had more than 30 UAE companies and organizations showcasing their projects such as the Singapore Tower and City of Arabia.
Business Roundtable with Senior Representatives of Dubai Silicon Oasis Authority, 22 Oct 2007
SBF organised a roundtable discussion for three senior representatives of Dubai Silicon Oasis (DSO) Freezone with our business community. DSO aims to be an integrated high-technology park for ICT, precision engineering, microelectronics, semiconductor and other high-tech industries. Dubai has been actively promoting its free-trade zone initiatives and the DSO Authority is providing notable benefits and incentives for companies who wants to establish their presence; even for wholly-owned foreign enterprises. The DSO Freezone representatives visited Singapore to seek feedback from companies keen on investing and setting up operations in the DSO Freezone.
More than 20 interested Singapore businessmen was specially invited to attend this roundtable, from diverse sectors like IT & building consultancy, township planning, education, furniture, investment, logistics, banking, electronics, technology and energy products, industrial gas supplier, manufacturing and engineering.
22nd International Autumn Trade Fair 2007 in Dubai, 9 - 12 December 2007
In December 2007, SBF led a group of 30 Singapore exhibitors to the 22nd International Autumn Trade Fair 2007 in Dubai. The International Autumn Trade Fair is the Middle East's one and only consumer goods fair, and is a comprehensive platform for our businesses to deepen trade engagement with the Middle East. The product focus of the fair includes: jewelry, leather products, chemicals, dyes, textile and ready made garments, fashion wares & accessories, furniture, carpets & wall coverings, watches & clocks.
Some Singapore companies' presence in UAE:
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Arab Heavy Industries, Fedsin Oilfield Equipment and Europacific Marine Supplies & Services: These three companies have a substantial presence in UAE in the ship repair and marine support industry. |
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Jurong Consultants: Their current projects include the Industrial Studies and Development Consultancy of Abu Dhabi, Master Planning to the proposed extension of Abu Dhabi Industrial Cities and Project Management of Al Hayle Free Industrial Zone in Fujairah |
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TT Importers & Exporters & CWT Logistics: Both have branch offices supporting their distribution and sourcing hub industry in the UAE. |
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PICO Art and Cityneon: Both have branch offices in the region supporting the exhibition sectors in the UAE |
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Surbana: Surbana International Consultants landed a S$148 million luxury hotel project in Abu Dhabi in July 2006 and appointed consultants to develop the master plan, city plan and urban design of the S$13.20 billion Al Salam City project in Umm Al Quwain. |
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SembCorp Utilities: In July 2006, SembCorp Utilities entered into a joint venture with the Abu Dhabi Water and Electricity Authority (ADWEA) to acquire the Fujairah-based Independent Water and Power Plant (IWPP). 60% of the joint venture is owned by ADWEA and 40% owned by SembUtilities. The water facility has a net generation capacity of 535 megawatts and desalination capacity of 100 million imperial gallons per day (MIGD). An expansion of the generation capacity of the facility for a further 225 megawatts is expected to be operational in the first quarter of 2009. |
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Changi Airports International: Changi Airports International is managing operations in key areas of the existing Abu Dhabi Airport and providing consultancy services for Abu Dhabi International Airport |
Bilateral Trade :
Trade between Singapore and UAE rose by 4.3% to S$12.2 billion in 2007. Overall, UAE was Singapore's 19th largest trading partner in 2007
Exports rose from S$5.05 billion in 2006 to S$5.26 billion in 2007. Key exports included telecommunication equipment, jewellery, refined petroleum products, civil engineering equipment parts and precious stones & pearls
Imports also rose from S$6.64 billion in 2006 to S$6.91 billion in 2007. Main import items were crude petroleum, refined petroleum products, non-monetary gold, jewellery and telecommunications equipment.
| Trade |
2005 |
2006 |
2007 |
| Total Trade |
10,397,063 |
11,683,523 |
12,166,586 |
| Total Imports |
4,241,971 |
6,635,987 |
6,910,166 |
| Total Exports |
6,155,092 |
5,047,535 |
5,256,420 |
Source: IE Singapore
Singapore's Trade with UAE (Value in S$ Thousand)
About Singapore Business Federation (SBF)
For media enquiries please contact:
| Name |
Tel |
| Gerald De Cotta |
6827 6896 |
| Rachael Fong |
6827 6874 |
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