Al Banna discusses establishing bilateral dialogue with Singapore

In the meeting, they discussed ways of consolidating cooperation and trade relations between Singapore and the Middle East in general. H.E Tee Tua Ba explained that Singapore has been able to develop relations with the European Union, the Unites States and lately with South America, but has not yet been able to establish the same level of relations with the Middle East. He added that the Prime Minister of Singapore had a very fruitful visit to the several Middle Eastern countries, namely Egypt, Jordan, Bahrain and the UAE.

H.E, the ambassador, added that they wish to establish a dialogue channel with the Middle East and the UAE in particular, with the aim to create a better understanding between Asia and the Middle East, as many businessmen are unaware of the many opportunities of trade and investment available in both regions.

Mr. Al Banna agreed that establishing a dialogue would enhance the already great relations between the UAE and Singapore, and affirmed that the Dubai Chamber will do everything in its powers to facilitate and support the establishment of this dialogue.

The Deputy Director General gave examples of the formats of dialogue channels which have already been opened between the GCC and other countries, such as the EU/GCC conference, GCC/US conference, and the Joint Industrial Conference between the GCC and India which Mr. Al Banna attended last week in Mumbai. He added that during the same meeting, the UAE Federation of Chambers signed an agreement to establish a Joint Business Council between India and Dubai. Other formats of dialogue channels are joint economic committees, such as those set up between Dubai and each of the United Kingdom, Iran and India.

Another suggestion made by Mr. Al Banna, was organizing a joint event between the UAE and Singapore to take place annually or every two years, depending on the circumstances. He added that this would help promote the trade and investment possibilities as well as goods and services in both countries for the businessmen and perspective investors.