GCC-Singapore FTA awareness forum kicks off in Muscat

MUSCAT, May 4 (KUNA) -- Oman's Chamber of Commerce and Industry (OCCI) organized on Sunday an awareness forum on the GCC-Singapore Free Trade Agreement (GSFTA).
The forum shed light on the GSFTA, explaining its privileges and benefits, as well as incentives and facilities it provides for the development of joint action and projects between investors and business owners from Singapore and Gulf countries.
"This agreement will contribute to the strengthening of GCC-Singapore ties and bilateral trade exchange volume in the upcoming period.
It also tends to finding effective commercial partnerships between GCC-Singapore societies, especially with the current richness in investment horizons as some investment opportunities are still not being exploited by Gulf and Singapore investors," Saeed bin Salah Al-Kyoumi, Chairman of OCCI, said in his speech during the forum.
For his part, Singapore's Senior Minister of State for Trade and Industry Lee Yi Shyan said that Oman is Singapore's 6th top commercial partner in the Middle East region, adding that the two countries' bilateral trade relations have regularly grown in the last seven years. (end) ahr.ma