Qatar-Singapore trade volume jumps 10% to surpass $7.2bn in 2018

August 25 2019

Trade volume between Qatar and Singapore reached more than $7.2bn in 2018, or a 10% growth from $6.4bn recorded in 2017, according to figures announced in a meeting with a trade delegation from Singapore.

During the meeting, Qatar Chamber assistant director general for Government Relations and Committee Affairs, Ali Bu Sherbak al-Mansouri emphasised that Qatar and Singapore enjoyed “very strong and distinct relations in all fields of co-operation.”

Al-Mansouri said the meeting opened networking opportunities between Qatari firms and the Singaporean delegation composed of companies specialising in security systems, tech solutions, and cyber security.

“There are many mutual investments in various sectors in both sides. Qatar Chamber is keenly interested in enhancing co-operation ties between businessmen from both friendly countries in all economic aspects especially in small and medium-sized enterprises (SMEs).

“We highly-support seeing more Singaporean companies in the Qatari market and more partnerships with Qatari companies in all sectors, especially in security solutions,” al-Mansouri said.

Chew Mok Lee, the head of the delegation and assistant chief executive officer of Enterprise Singapore, said “there is a scope of co-operation between both sides,” adding that the delegation is interested in exploring business opportunities available in the Qatari market.

Security Association of Singapore (SAS) president Raj Joshua Thomas also said the delegation comprised representatives of seven leading Singaporean companies in the fields of security solutions.

He said their presence in the delegation affirms that Singaporean businessmen “are eager to inform Qatari businessmen on their expertise in the field of security systems and other solutions.

Speaking to media on the sidelines of the meeting, Thomas noted that Singapore is keen to offer various security solutions to Qatar in light of the country’s ambitious infrastructure development strategy and its preparations to host the FIFA World Cup in 2022, as well as the initiatives under the Qatar National Vision 2030

Major Qatari imports from Singapore last year included tools and equipment, electrical machinery and lighting equipment, machinery plants, parts of balloons, vegetables and fruits, ceramic tableware and kitchenware, chocolate and other food products, optical fibres and fibre bundles, pipe valves, instrument for investigation (microscopes), optical, photographic, medical or surgical instruments, and pumps for liquids.

Major Qatari exports to Singapore in 2018 included polymers of ethylene in its primary forms, polymers of vinyl chloride, mineral chemical fertilisers, mineral fuels, petroleum oils and petroleum products, acyclic alcohols, petroleum oils and gases, bars, and rods of iron or non-alloy steel.

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