REMARKS BY MR LEE YI SHYAN, MINISTER OF STATE FOR TRADE AND INDUSTRY, AT THE ABU DHABI-SINGAPORE BUSINESS FORUM, AT RAFFLESHOTELAT 16.55 ON MONDAY, 11 JUNE 2007

Your Excellency, Khaldoun Al-Mubarak,

Distinguished Guests,

Ladies and Gentlemen,

The inaugural Abu-Dhabi Singapore Business Forum today is a concrete and significant leap forward in the bilateral relations between Abu-Dhabi and Singapore.

The presentations and discussions this afternoon have illustrated that there are plenty of opportunities for us to learn from each other, to harness the knowledge and experience we have accumulated for mutual benefit.

I am therefore pleased to announce the signing of the MOU (Memorandum of Understanding) to formalize the establishment of the Abu-Dhabi Singapore Business Forum.

I am also heartened to learn about the success of ongoing collaborations between Abu Dhabi and Singapore companies. We will see some of such partnerships bear fruits today in the formation of significant Joint Ventures. I hope that the ASBF will act as a platform for more successful collaborations ahead.

Finally, to underscore our commitment to support Singapore’s efforts to step up and facilitate our cooperation with Abu Dhabi, Singapore will establish a diplomatic office in Abu Dhabi later this year. In the same connection, IE Singapore will be opening an Overseas Centre as well.

With increased links and strengthening relations, I am confident that the bilateral ties between Abu Dhabi and Singapore will continue to broaden and deepen as we grow our multi-faceted engagement beyond business and trade.

Conclusion

Let me conclude by thanking the founding members for your contribution to the success of this inaugural meeting.

I also wish to express my appreciation to His Excellency, Khaldoun, and Abu Dhabi for their friendship and support.

Thank you.