Abu Dhabi and Singapore strengthen ties

Abu Dhabi Trade relations between Abu Dhabi and Singapore have become stronger over the last few years with trade at almost $16 billion (Dh58.7 billion), in favour of the UAE.

"There's much room for growth in this part of the world," said Lee Yi Shyan, Minister of State for Trade, Industry and National Development.

Trade increased 47 per cent in 2011 over 2010, he said.

Total trade between the UAE and Singapore grew at an annual growth rate (CAGR) of 13.8 per cent between 2007 and 2011.

On Monday, the Executive Affairs Authority of Abu Dhabi and Singapore's Minister of State for Trade, Industry and National Development met in Abu Dhabi for the sixth Abu Dhabi-Singapore Joint Forum (ADSJF), organised by the EAA and the International Enterprise (IE) Singapore, the government agency driving Singapore's external economy.

A three-year MoU between the Urban Planning Council and the Urban Redevelopment Authority was signed at the Forum to provide a framework for the exchange of information and the development of human capital between the two organisations.

The minister told reporters on Monday that there are current discussions for a waste water treatment plant in Abu Dhabi, following a trip that the EAA had made to the Singaporean plant a few weeks ago.

"Our tap water in Singapore is drinkable... the water recovered from waste water is even purer than that, so now it's used for industrial use," the minister explained.

He added that there will be much sharing of information on water sustainability, and the Singaporean experience in water reclamation.

The two sides also discussed the successful Singapore International Water Week, and a potential collaboration with Abu Dhabi for a similar initiative to be held in 2013.

In the area of semiconductors, there are also talks on collaboration related to research and development, in addition to discussions on how to support Advanced Technology Investment Company's (ATIC) presence in Singapore.

Beyond trade, the minister said that Singapore has become a huge attraction for Emiratis with the numbers of visitors from Abu Dhabi growing from 11,321 in 2010 to 12,342 in 2011.

Visitors from Singapore to Abu Dhabi also increased by 9.5 per cent from 7,830 in 2010 to 8,570 in 2011.