Tuesday, March 13, 2012

Teo Ser Luck to attend international energy forum in Kuwait

SINGAPORE: Minister of State for Trade and Industry Teo Ser Luck will attend the 13th International Energy Forum in Kuwait from March 12 to 13.

He will join energy ministers from around the world to discuss strategies to strengthen the security of the global energy supply chain.

They will also discuss investment opportunities that will lead to the achievement of a more sustainable global energy mix.

The forum is an inter-governmental exchange platform that facilitates global energy dialogue between producer and consumer countries of oil and gas.

It has 88 member countries, including key energy players such as the United States, Brazil, China, India and Russia, and accounts for around 90 per cent of global oil and gas supply and demand.

Singapore joined the International Energy Forum in February 2011.

After attending the forum, Mr Teo will leave for Doha, Qatar, to join a Singapore government delegation led by Deputy Prime Minister and Minister for Home Affairs Teo Chee Hean, for a series of high-level meetings with Qatari officials.

On Singapore's growing bilateral ties with Kuwait and Qatar, Mr Teo Ser Luck said, "Emerging markets such as the Middle East and Africa offer Singapore companies good growth opportunities. Given the high growth potential of the Gulf Cooperation Council (GCC) region, I encourage more Singaporean companies to explore the business and investment opportunities in Qatar and Kuwait."

A recent report from leading Saudi investment company Alkhabeer Capital has projected gross domestic product growth of the GCC region to be more than 4 per cent in 2012.

Last year, Qatar and Kuwait were Singapore's 3rd and 4th largest trading partners in the Gulf Cooperation Council.

Singapore's bilateral trade with both countries grew more than 20 per cent year-on-year in 2011, reaching S$9.6 billion with Qatar and S$4.7 billion with Kuwait.

- CNA/cc

View the original article here

Source From Channel News Asia

No comments:

Post a Comment