Page 28 - MOE ENGLISH PR REPORT - OCTOBER 2024

Press Release

UAE and Singapore explore means to strengthen cooperation in

sustainable sectors fostering partnerships with the private sector

Discussions held on the sidelines of Investopia Global Talks in Singapore

Abu Dhabi, 24 October 2024:
H.E. Abdulla Bin Touq Al Marri, Minister of Economy and Chairman of Investopia, and H.E. Alia
Bint Abdulla Al Mazrouei, the Minister of State for Entrepreneurship, held a series of meetings
with various ministers and representatives of major private sector companies in Singapore. The
meetings, which were also attended by H.E. Jamal Al Suwaidi, the Ambassador of the United Arab
Emirates to the Republic of Singapore, were aimed at strengthening economic cooperation in
sustainable sectors and fostering partnerships with the private sector.
The meetings took place on the sidelines of the UAE delegation's visit to Singapore, where the
latest edition of Investopia Global Talks was held. The event, organised by Investopia in
collaboration with Standard chartered Bank, brought together over 100 participants including
leaders, investors, entrepreneurs, economic experts, private sector representatives, as well as
leading family offices from both countries.

At these meetings, H.E. Bin Touq emphasized that the UAE-Singapore relations are robust and
are marked by consistent progress in diverse sectors, particularly on the economic and investment
fronts. H.E. highlighted the UAE's commitment to strengthening economic cooperation with
Singapore, particularly in new and sustainable economic sectors that drive the transition towards
the future economy. Both nations share common strategies aimed at driving expansion and
investment in these crucial sectors.

Meeting with Singapore’s Minister of Manpower

During a meeting with H.E. Dr. Tan See Leng, the Minister of Manpower and Second Minister for
Trade and Industry of the Republic of Singapore, H.E. Bin Touq and H.E. Al Mazrouei explored
the strengthening of economic relations and facilitating dialogue between the UAE and
Singaporean private sectors. This will open up new avenues for cooperation, especially given the
diversity of economic opportunities in both markets and the possibility of providing more enablers
and incentives for exporters and importers in the two countries.

The meeting discussed the strategies adopted by both countries over the past decades to boost
economic diversification. H.E. Bin Touq highlighted the UAE’s efforts to drive expansion in non-
oil sectors, which now contribute a substantial 74 per cent to the UAE's overall GDP. These
initiatives have played a crucial role in bolstering the country’s economic stability and enhancing
its appeal as a hub for diverse business and economic activities.