Egypt, Singapore to explore FTA feasibility, sign cooperation MoUs

Singapore and Egypt recently agreed to explore the feasibility of a free trade agreement (FTA) and take advantage of each other’s strengths and strategic locations during Singaporean President Tharman Shanmugaratnam’s official visit to Cairo, where he met his Egyptian counterpart Abdel Fattah Al Sisi.

The two presidents witnessed the signing of several memoranda of understanding (MoUs) on cooperation in economy, maritime transport, health, agri-research, micro, small and medium enterprises and start-up development, capacity building and social protection, an official release from the Singaporean Ministry of Foreign Affairs said.

Singapore and Egypt recently agreed to explore the feasibility of an FTA and take advantage of each other’s strengths and strategic locations during Singaporean President Tharman Shanmugaratnam’s official visit to Cairo.
Both sides signed several MoUs on cooperation in economy, maritime transport, health, agri-research, MSME and start-up development, capacity building and social protection.

Egypt was the first Arab country to recognise Singapore’s independence in 1965. Tharman invited Al Sisi to visit Singapore next year to commemorate the 60th anniversary of their diplomatic relations.  

Tharman also met Egyptian Prime Minister Mostafa Madbouly, who updated him on economic developmental plans and investment opportunities for Singaporean companies.

The two leaders agreed that there was scope to step up bilateral economic cooperation and for both sides to work closely together to drive innovation in port, airport and water management, the release added.

Fibre2Fashion News Desk (DS)