S'pore takes long term view of relations with Middle East: MFA
Minister of State for Foreign Affairs Masagos Zulkifli has said that Singapore is taking a longer-term perspective when developing relations with the Middle East.
Ministry of Foreign Affairs (Photo: MFA)
SINGAPORE: Minister of State for Foreign Affairs Masagos Zulkifli has said that Singapore is taking a longer-term perspective when developing relations with the Middle East.
Speaking in Parliament, he said that despite the political turmoil in some parts of the region, Singapore's engagement with the Middle East has continued. On the whole, he said relations remain positive.
Mr Masagos added that despite the political upheaval last year, trade with the Middle East countries had increased by 20 per cent to a healthy S$64 billion from 2010.
Some Singapore companies in the Middle East are also doing well.
For example, Rotary recently secured a S$43 million deal to build storage facilities for an oil refinery in Jizan, Saudi Arabia. This is in addition to its portfolio of projects in Saudi Arabia, worth more than S$1.1 billion.
Keppel FELS also won a contract in Qatar to build two rigs worth more than S$400 million.
However, Mr Masagos acknowledged that the situation in countries like Egypt, Syria and Iran remains unstable.
He said: "The politics in the Middle East is and will always be complicated. While we strive to understand the region better, we are cognisant that Singapore is not a major player politically.
"But this should not prevent us from engaging the region and exploring new areas of cooperation for mutual benefit. Our companies should also take a long-term view and continue to explore business opportunities in the region."
Singapore is also looking at growing its economic interests in Turkey, which occupies a strategic position at the crossroads between Europe and the Middle East. To this end, the country will open an embassy in Ankara later this year.
