SPEECH BY MR LIM HNG KIANG, MINISTER FOR TRADE AND INDUSTRY, AT THE SIGNING CEREMONY OF THE SINGAPORE TECHNOLOGIES TELEMEDIA AND QATAR TELECOM STRATEGIC PARTNERSHIP IN THE ASIA-PACIFIC REGION, AT THE NATIONAL MUSEUM OF SINGAPORE, AT 7.00 PM OM FRIDAY, 9 MARCH 2007
His Excellency Mohammed Bin Issa Al Mouhanadi, and
Mr Abdulla Zaid Al Talib, Board Directors of Qatar Telecom,
Mr Tan Guong Ching, Chairman, ST Telemedia,
Distinguished Guests
Ladies and Gentlemen
Introduction
Good evening. I am very pleased to be here to share in the celebration of the strategic alliance between Singapore Technologies Telemedia (ST Telemedia) and Qatar Telecom (Qtel).
Singapore’s Engagement and Strengthening Ties with the Qatar
Qatar is an important partner for Singapore in the Middle East.It is Singapore’s fourth largest trading partner from the region and 25th largest overall.Our bilateral trade further increased by 13.9% in 2006 to S$4.1bn.
The strong and friendly ties between Singapore and Qatar continue to grow from the numerous bilateral visits by leaders from both sides.Singapore was honoured to welcome His Highness Amir Sheikh Hamad Bin Khalifa al-Thani in June 2005 and His Highness Crown Prince Sheikh Tamim Bin Hamad al-Thani in July 2005.It was not surprising that my Prime Minister Lee Hsien Loong visited Qatar in November 2006 during this first official visit to the Middle East, and announced the launch of FTA negotiations between the Gulf Cooperation Council (GCC) and Singapore.Collectively, the GCC States, of which Qatar is a significant member, is Singapore’s seventh largest trading partner, with total trade amounting to S$40bn last year.
To underline the desire by both sides to build a mutually beneficial partnership based on an alignment of interests, the High-Level Joint Committee was established and co-chaired by Deputy Prime Minister Wong Kan Seng and Crown Prince Sheikh Tamim in October 2006 in Qatar.This Joint Committee will facilitate inter-agency interactions and coordination to promote economic, political, security, social and cultural cooperation.
In addition to the framework created through the G-to-G linkages, it is also important to develop the B-to-B linkages which would form the meat of the relationship.In this regard, Prime Minister Lee Hsien Loong had led a business delegation during his visit to Qatar.The feedback and interest from the business community has been very encouraging.
This climate of strong and friendly bilateral relations forms the basis of excellent prospects for enhanced trade and investment opportunities for our businesses.For instance, Keppel Offshore & Marine and Qatar Gas Transport Company will jointly develop and manage a major facility in the Port of Ras Laffan, for the construction, repair and maintenance of ships and other marine structures.
Opportunities and Growth Potential of the Mobile Industry in the Asia-Pacific Region
Another key area that we can cooperate on is in mobile communications.Competition in this sector will intensify. Convergence is breaking down barriers between fixed and mobile communications systems.Wireless broadband and IP will fundamentally alter the dynamics of the mobile industry.
The Asia-Pacific region today is one of the most exciting mobile markets in the world, with an estimate of more than one billion mobile connections in December 2006.A recent study by Frost and Sullivan revealed that China and India are expected to contribute significantly to the robust growth of 3G subscriber bases after 2008.India, Indonesia and the Philippines are expected to drive the mobile sales boom for the region.
Using Singapore and Qatar as Springboards into Asia-Pacific and the Middle East
The Middle East is a fast growing market with increasing opportunities for growth, collaboration and sharing of knowledge between our governments and companies.Similarly, Asia is on the rise, led by the re-emergence of China and India, and a revitalised ASEAN.
For Qatari businesses seeking opportunities for growth and returns in an ever increasingly competitive global market, the Asia-Pacific markets hold great potential, not just because of its sheer size but also because of the rising affluence of its peoples.
We welcome you to consider Singapore as a trusted and preferred partner to gain a foothold and expand into the region.Singapore offers excellent connectivity to the region, not only in terms of award-winning air and sea ports, but also because we have a ready pool of thousands of multinational companies to do business with, including 2000 Chinese and 2000 Indian companies.Singapore also possesses a track record for efficiency, reliability and trustworthiness, with an open and transparent business environment.
In a similar vein, I would encourage other Singapore businesses keen to expand into the Middle East to capitalize on the strong ties that we have built with Qatar, and leverage on Qatar’s strengths and connectivity to other parts of the Middle East.
Qatari and Singapore businesses will do well if they can find avenues for cooperation to jointly compete against incumbents in their industries or make inroads into hitherto untapped markets in their respective regions.
The strategic alliance between ST Telemedia and Qtel will lead the way for companies in our two countries to work and grow together in the Asia-Pacific and the Middle East.
I wish every one of you an enjoyable evening.Thank you.