YEREVAN, 1 October (BelTA) – The Eurasian Economic Union (EAEU) has a great potential for growth, especially in logistics and the digital sphere, Singapore Prime Minister Lee Hsien Loong said at the EAEU summit in Yerevan on 1 October, BelTA has learned.
Lee Hsien Loong congratulated the EAEU on the success in promoting integration and noted that the EAEU has set itself ambitious goals. “These efforts are especially prominent in comparison to countries which shut the door in the face of free trade and regional cooperation,” he said.
Lee Hsien Loong also stressed the importance of signing a free trade agreement between the EAEU and Singapore. “We are happy to sign such an agreement. This is the outcome of two-year-long negotiations which have led to a mutually beneficial solution,” he noted.
“The Eurasian market is a large market at the crossroads of Europe and Asia. It has a great potential for economic growth especially in logistics and the digital sphere. Singapore is interested in these areas and is eager to cooperate in them,” Lee Hsien Loong added.
According to him, the free trade agreement gives advantages not only in trade. “We believe that the agreement will facilitate development of industries in the EAEU member states, investment, and establishment of contacts between people and businessmen. I am sure that the agreement will bring our regions closer together,” Lee Hsien Loong said.
