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SHANGHAI : The 3rd Abu Dhabi-Singapore Joint Forum was held on Wednesday in Shanghai - the first time it is being held in a third country.
The forum aims to provide a platform for government and businesses from both sides to explore potential collaboration and investments in other countries. And Singapore is ideally positioned to act as a bridge between the Middle Eastern powerhouse and the burgeoning China market.
Manufacturing, logistics, education and tourism are just some of the many areas where Singapore and Abu Dhabi currently enjoy healthy cooperation.
In 2008, The United Arab Emirates was Singapore's second largest trading partner in the Middle East, with total trade hitting S$14.8 billion.
Singapore was also China's third largest trading partner in 2008, with trade reaching S$91.4 billion. It has also invested significantly in various sectors in the Chinese economy.
Lee Yi Shyan, Minister of State for Trade and Industry and Manpower, said: "Singapore has invested in manufacturing, real estate, logistics, and in infrastructure, and all these areas are of interest to Abu Dhabi.
"They have so far been investing indirectly through portfolio investments and very limited direct investments and they are looking to Singapore business partners with track records to come in to the market."
Market watchers said this positions Singapore to be a bridge for collaboration between Abu Dhabi and China.
The Abu Dhabi-Singapore Joint Forum was first established in 2007 to identify areas of cooperation and investment between the two sides in third-countries around the world.
The forum will see top businessmen from both countries provide updates on existing projects in Abu Dhabi and the Middle East, as well as explore collaboration opportunities in China and globally.
Despite the global economic downturn, China is still expected to present opportunities for investors.
Mr Lee said: "There are very few regions that enjoy positive growth and also at this time, you can pick up assets that are cheaper than a year or two ago. I still believe there are opportunities in China."
During the two-day forum, businessmen from Abu Dhabi will be introduced to joint venture projects between Singapore and China that are currently underway. They will also visit the Suzhou Industrial Park, which celebrates 15 years of successful China-Singapore partnership. - CNA/ms
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