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Belarus, Singapore interested in closer economic cooperation

Politics 06.06.2019 | 11:11
Koh Poh Koon and Andrei Dapkiunas. Photo courtesy of the Belarusian Ministry of Foreign Affairs
Koh Poh Koon and Andrei Dapkiunas. Photo courtesy of the Belarusian Ministry of Foreign Affairs

MINSK, 6 June (BelTA) – Deputy Minister of Foreign Affairs of Belarus Andrei Dapkiunas met with Senior Minister of State for Trade and Industry of Singapore Koh Poh Koon to discuss cooperation prospects in economy, trade and investment on June 5, BelTA learned from the press service of the Belarusian Ministry of Foreign Affairs.

A day before the Singaporean official had met with First Deputy Prime Minister of Belarus Aleksandr Turchin to discuss ways to create the necessary conditions for effective work of Belarusian economic entities in Singapore, including in the financial sector. This matter was also on the agenda of the meeting in the Ministry of Foreign Affairs.

Koh Poh Koon and Andrei Dapkiunas also discussed ways to increase efficiency of the expertise and knowledge transfer within the framework of the Singapore Cooperation Programme implemented under the auspices of the Ministry of Foreign Affairs of Singapore.

Koh Poh Koon and Andrei Dapkiunas discussed possible participation of Belarusian tech companies in some of the world's largest industry exhibitions and forums SWITCH and FinTecht to be held in Singapore in the autumn of 2019.

They also reviewed progress in the talks on the establishment of a free trade zone between the Eurasian Economic Union and Singapore. The Singaporean official confirmed Singapore's strong support for Belarus' efforts to join the World Trade Organization (WTO). The parties emphasized the mutual interest of the two countries in signing a bilateral agreement on trade in services and investments after Belarus' accession to the WTO.

According to the Belarusian Ministry of Foreign Affairs, Singapore ranks as the world's most competitive economy in the IMD World Competitiveness Rankings in 2019. The annual trade between Belarus and Singapore exceeds $50 million.

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