Singapore Bolsters Trade Relations with Abu Dhabi

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Singapore company setup specialist Rikvin is positive that the discussions following the recently-concluded 6th Abu Dhabi-Singapore Joint Forum will open more doors for Singapore businesses and foster closer economic partnerships between both economies. http://www.rikvin.com/

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Both economies have come a long way since the signing of the UAE-Singapore DTA and GCC-Singapore FTA. Between 2007 and 2011, trade between UAE and Singapore has grown at a fast clip (13.8%) and visitorship from Abu Dhabi has increased by 9% in 2011.

Following the recently-concluded 6th Abu Dhabi-Singapore Joint Forum (ADSJF) in Abu Dhabi, both countries have agreed to build on their economic partnership.

Singapore company registration specialist Rikvin is positive that the discussions following the 6th Joint Forum will open more doors for Singapore businesses and create more employment opportunities for professionals from both economies to tap.

The forum, which was organized by International Enterprise Singapore (IE Singapore) and Abu Dhabi’s Executive Affairs Authority (EAA), was attended by approximately 100 government and business representatives from both countries.

In gist, both Singapore and Abu Dhabi have agreed to work together on the areas of 1) urban planning, 2) waste and wastewater management, 3) R&D for semiconductors and 4) media development. These areas of interest are in line with Abu Dhabi’s Economic Vision 2030.

URBAN PLANNING
In the area of urban planning, Abu Dhabi’s Urban Planning Council (UPC) and Singapore’s Urban Redevelopment Authority (URA) have signed a 3-year Memorandum of Understanding Singapore to pave the way for 1) information exchanges relating to sector developments in respective economies and 2) the development of human capital between UPC and URA.

Rikvin is optimistic that the UPC-URA MoU will create more employment and professional exchange opportunities between both countries as RFPs may be granted to private sector vendors. This in turn may create a higher demand for the Singapore employment pass in the urban planning sector.

WASTE AND WASTEWATER MANAGEMENT
On the back of the Singapore International Water Week (SIWW), both Singapore and Abu Dhabi will continue to 1) exchange information and thought leadership in water sustainability and reclamation as well as 2) to work on a possible event, similar to SIWW, with Abu Dhabi next year.

SEMICONDUCTOR R&D
Both Singapore and Abu Dhabi discussed furthering their partnership in semiconductor research and development (R&D). Prior to this forum, Singapore has hosted 25 engineering students from Abu Dhabi under a training program. On the back of this partnership, Rikvin anticipates that Advanced Technology Investment Company (ATIC) will soon opt for Singapore company formation]

Commenting on the Forum, Mr. Satish Bakhda, Head of Rikvin’s Operations said, “The areas of discussion underscore the maturity of Singapore’s economic and cultural partnership with UAE. Both economies have come a long way since the signing of the UAE-Singapore DTA and GCC-Singapore FTA. Between 2007 and 2011, trade between UAE and Singapore has grown at a fast clip (13.8%) and visitorship from Abu Dhabi has increased by 9% in 2011. We anticipate that the recent discussions will pave the way for more win-win situations for both economies.”

ABOUT RIKVIN:
Established in 1998, Rikvin has since partnered with thousands of investors, entrepreneurs and professionals in their pursuit to access business opportunities overseas. Rikvin’s areas of expertise include company incorporation, offshore company setup, accounting, taxation and other related corporate services. Rikvin also provides Singapore work visa and immigration services for foreign professionals who wish to relocate to Singapore.

20 Cecil Street, #14-01, Equity Plaza, Singapore 049705
(65) 6320 1888
http://www.rikvin.com/

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Satish Bakhda
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