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Russia and Singapore decided to create a working group to promote investment projects

8 November The 2014 negotiations of the Minister of Economic Development Alexey Ulyukayev with the Minister of Trade and Industry of the Republic of Singapore Lim Hng Kiang took place, the press service of the department reports.

The head of the Russian economic department noted that "the trade turnover between our countries is growing rapidly: according to statistics, its volume in January-August 2014 already significantly exceeds the amount of trade turnover for the entire 2013 and has already amounted to more than $ 3 billion."

In September, the fifth meeting of the Commission was held in Singapore under the chairmanship of First Deputy Prime Minister Igor Shuvalov and Deputy Prime Minister of the Republic of Singapore, Minister of Finance Tarman Shanmugaratnam, where the Roadmap for Actual Projects of Russian-Singaporean Economic Cooperation was adopted. According to Aleksey Ulyukaev, consistent work is underway to support Russian and Singaporean companies in the implementation of projects included in the Road Map.

In addition, in order to intensify contacts between the countries, the head of the Ministry of Economic Development of Russia proposed to create a separate high-level Working Group on the search and promotion of investment projects. “I suggest we lead the work of the Working Group and instruct the experts of the two countries to work out the possible dates for holding its first meeting,” said Alexey Ulyukaev.

The Russian Minister also thanked Lim Hong Kiang for supporting the resumption of the Russian Trade Mission in Singapore. According to him, the internal procedures for signing an agreement on the resumption of the activities of the trade mission in the form of an exchange of notes have been completed. The draft note has been officially transferred to the Singapore side.

Minister of Trade and Industry of the Republic of Singapore Lim Hong Kiang assured that Singapore will be assisted in the speedy negotiation and signing of the document.

In conclusion, the Minister invited Lim Hung Kiang to take part in the work of the upcoming St. Petersburg International Economic Forum, which will be held on June 18-20, 2015. According to him, the Forum is planned to discuss the prospects for the development of the world and regional economy (Asia-Pacific, Europe, Russia, etc.) in the face of geopolitical challenges, as well as the tasks facing the governments of the leading world powers and their unions, and the ability of leaders to solve them.

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