Singapore Stands Firm Behind Burkina Faso, Africa Investments

Singapore Stands Firm Behind Burkina Faso, Africa Investments

Written by Wong Wei Han | From Today

Singapore government continues to eye Africa as an attractive destination to grow overseas trade and investments, even as the recent political unrests in Burkina Faso are set to disrupt the Republic’s plans for the West African nation.

Massive civil protests since June in Burkina Faso over presidential term limit have led to the ouster of its president Mr Blaise Compaore last week. This came just half a year after his visit to Singapore to entice business investments into his country, and the signing of a bilateral investment treaty in August.

“The recently signed treaty between both countries has not come into force as it is pending ratification. In light of the recent developments in Burkina Faso, we expect a delay in the ratification process,” a spokesperson of the Ministry of Trade and Industry told TODAY.

But this latest setback will not shake the government’s optimism in Africa, the spokesperson added, stressing: “Most African countries have experienced high economic growth and improving political stability over the past decade.”

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