Seychelles, Singapore To Strengthen Economic Ties

Seychelles, Singapore To Strengthen Economic Ties

Written Sharon Uranie | From All Africa

Seychelles and Singapore are looking to increase their collaboration in a number of economic sectors from trade, financial services, port development – including transshipment and fuel bunkering – to public-private partnerships.

This follows the recent official visit to Singapore by the Minister of Finance, Trade and the Blue Economy, Jean Paul Adam and the subsequent signing of a Memorandum of Understanding (MoU) between the Indian Ocean archipelago and the Singapore Cooperation Enterprise (SCE).

Formed in 2006, the SCE, which falls under the Asian nation’s Ministry of Trade and Industry, is mandated to develop capacities in partner countries for economic development building on Singapore’s experiences.

“This MoU will allow us to tap into Singapore’s expertise to better formulate our own economic development strategies. This opportunity is at a key moment for us, where we seek to revamp our financial services sector and where we seek to further develop the Blue Economy concept by building opportunities around our port and maritime infrastructure,” said Adam, according to a press statement issued on Sunday by the Seychelles Ministry of Foreign Affairs and Transport.

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