OPENING ADDRESS BY MR LEE YI SHYAN, MINISTER OF STATE FOR TRADE AND INDUSTRY, AT THE ABU DHABI-SINGAPORE JOINT FORUM MEETING, 12 MARCH 2008, 2.30 PM AT EMIRATES PALACE, ABU DHABI

Your Excellency, Khaldoon Al Mubarak

Chairman, Executive Affairs Authority

Distinguished Guests

It is my pleasure to be here today at the inaugural meeting of the Abu Dhabi-Singapore Joint Forum.On behalf of the Singapore delegation, I wish to thank Abu Dhabi for hosting this important event.

Bilateral ties between Singapore and Abu Dhabi have made significant strides in recent times.In January last year His Highness General Sheikh Mohammed bin Zayed Al Nahyan and His Excellency Senior Minister Goh Chok Tong had recognised the synergies between Abu Dhabi and Singapore and agreed that it was in our collective interests and mutual benefit to establish a Strategic Partnership.

Since then, the business linkages between Abu Dhabi and Singapore have grown considerably, including the launch of the Abu Dhabi-Singapore Business Forum in June last year. Many Singapore companies have developed strong partnerships with their Abu Dhabi counterparts and together have contributed to the economic growth and development of our economies.

There are many successful examples of cooperation between our private sectors.In environmental services, the Abu Dhabi Water and Electricity Authority and SembCorp Industries have been jointly operating the USD$1.7 billion Fujairah 1 Power and Desalination Plant successfully for over a year, playing an integral role towards addressing the energy and water needs of the rapidly growing Abu Dhabi economy.

In the air transportation sector, Changi Airport International teamed up with the Abu Dhabi Airport Company since 2006 and has helped the Abu Dhabi International Airport garner several major awards, including the prestigious “Best Airport in the Middle East & Africa” awarded by the Airports Council International. My co-chairman last night told me this is a “very nice turn around story”.

In real estate development, Mubadala Development Company and Capitaland are making good progress on the Zayed Sports City Stadium development whilst Surbana International is involved in the design and master-planning of several major developments in Abu Dhabi, including the rejuvenation of the prime waterfront Al Bateem district and the design of the TDIC (Tourism Development & Investment Company) Headquarters. Yesterday, we just saw the groundbreaking of the Grand Corniche Hotel in the city centre.

Abu Dhabi’s business presence in Singapore has also increased. The First Gulf Bank had established an office in Singapore while Etihad Airways is now flying thrice weekly between Abu Dhabi and Singapore

But the strong ties between Abu Dhabi and Singapore are not just limited to business and investments.Cooperation and collaboration between our public agencies have also broadened and deepened.

To date, 16 Singapore agencies and organisations from 8 ministries, many represented today, have been in discussion with each other to share best practices and to implement capacity building programs.

For example, in the area of education, the National Institute of Education of Singapore has trained more than 1,500 educators, school leaders and supervisors from Abu Dhabi over the last 4 years.

Following this successful partnership, NIE has been working closely with the Abu Dhabi Education Council on the establishment of the EmiratesCollege for Advanced Education, which held the inception of its inaugural cohort last September.

Similarly, in public administration, the Civil Service College of Singapore, in collaboration with the Abu Dhabi Department of Civil Service, has trained more than 40 Abu Dhabi senior officials in advanced public administration training programmes.To take the collaboration to the next level, both parties are now exploring the establishment of a Training Institution in Abu Dhabi for the Abu Dhabi Civil Service.

Others active discussions include the Abu Dhabi Department of Transport and the Marine Port Authority of Singapore, which are exploring the area of maritime cooperation.

Because our partnership is broad based and multifaceted, my co-chairman, His Excellency Khaldoon and I have decided that our 9 month old Abu Dhabi-Singapore Business Forum should be upgraded to a Joint Forum, enabling us to establish an oversight of all areas of cooperation with a view to strengthen them.

Our partnership has made swift progress because of two reasons. One - the pragmatic approach of Abu Dhabi & Singapore public agencies and companies in seeking new solutions and investments in our future. Two - the sincerity of both sides of wanting to establish a long term partnership based on “win-win” and integrity. I urge both sides to continue to build upon this partnership as it can grow to be a very substantive and strategic one.

I wish you a fruitful meeting ahead.Thank you.