Egypt, Singapore discuss cementing economic relations

CAIRO - 9 February 2018: Minister of Trade and Industry Tarek Kabil discussed with his Singaporean counterpart Koh Poh Koon means of fostering economic and investment relations between the two countries.

The Egyptian-Singaporean economic relations are currently witnessing momentum through the governments of both countries with the aim of pushing forward trade exchange and joint investments to unprecedented levels, the Ministry of Trade and Industry said in a statement Friday.

Kabil said the official presidential visits, topped by President Abdel Fatah al-Sisi’s visit to Singapore in 2015 and that made by Singapore’s former president Tony Tan to Cairo in 2016, reflect the two countries’ keenness to boost bilateral cooperation in all fields.

The Egyptian minister also underscored the importance of increasing the volume of bilateral trade, noting that trade exchange between the two countries in 2017 stood at $220 million.

Kabil said this figure does not reflect the huge capabilities in both countries.

Meanwhile, the Singaporean minister asserted his country’s keenness to bolster cooperation with Egypt, describing it as a pivotal country in the Middle East.

Koon added that his talks with Kabil will contribute to drawing up mechanisms for the future of economic relations between the two countries.