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Read more with google mobile : S’pore, Brazil ink agreements on trade, air services & technology
Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Government Education Search Search: S’pore, Brazil ink agreements on trade, air services & technology Channel NewsAsia - Wednesday, November 26 SINGAPORE: Direct air links between Singapore and Brazil is on the cards, and trade ties between the two countries will get a boost, after the two countries signed agreements on trade and air services on Wednesday. This is Singapore’s Prime Minister Lee Hsien Loong’s first visit to Brazil and his trip underscores the deepening ties between both sides. The call on Brazilian President Luiz Inacio Lula Da Silva saw both leaders discussing wide ranging issues, including how each country is dealing with the global financial crisis. Both leaders noted the current financial crisis is largely a result of excessive risk taking and inadequate risk management practices in financial markets, as well as deficiencies in financial regulations and supervision in some advanced countries. Both sides also noted that developing countries have a role to play in stabilising financial markets and fostering global growth. In this regard, both agreed that there is an urgent need to reform the international financial institutions to give greater voice and representation to developing countries. Mr Lee’s visit also saw the formalisation of trade links between the two countries. Under the trade and investment promotion agreement, a joint committee will be formed to exchange ideas on promoting trade and business. Currently there is no institutionalised platform for the promotion of trade and industry between the two countries. Singapore is looking towards Brazil for its expertise in areas such as renewable clean energy. The joint committee is expected to hold its first meeting in the second half of next year. The science and technology agreement will see both sides collaborating in areas such as microbiology and dengue control, with the view to develop a vaccine against the disease. The air services agreement will provide greater flexibility for airline operations, which Mr Lee notes will enhance people—to—people ties. Under the bilateral air services agreement, Singapore carriers can operate a total of 14 weekly passenger services, and seven weekly air cargo services between Brazil and Singapore. This is likewise for Brazilian carriers. Speaking to Channel NewsAsia, Singapore Airlines’ chairman, Stephen Lee, says the agreement will pave the way for direct air links between the two countries. He said: "We will certainly look into it. We do periodic planning and review of our routes and our network. Currently we do not fly to South America, (but) South America is certainly on our radar screen. Brazil is the largest economy in South America and it will be a logical first step." The Civil Aviation Authority of Singapore (CAAS) says that it is also working towards liberalising air services agreements with other South American countries on a progressive basis. "Singapore recognises the economic importance of this region and the immense potential for enhancing economic linkages with it,” said the CAAS in a written response to the media. Mr Lee’s hectic schedule also saw him launching the Portuguese version of Singapore’s Minister Mentor Lee Kuan Yew’s memoirs. MM Lee’s memoirs have already been translated into several other languages including Arabic, Russian, Japanese and Korean. Brasilia is the administrative capital of Brazil and the seat of all three branches of the Brazilian government. Mr Lee also met with the Brazilian Congress and Senate, the body that contributes to the formulation of foreign policies in the country. Singapore is Brazil’s principal trade partner among ASEAN countries and the 6th in Asia. Trade between both sides has grown steadily over the years. In the past five years, trade volume has surged by 230 per cent, making Brazil Singapore’s largest trade partner in South America. Mr Lee is now in Santiago, Chile, where he is scheduled to meet with Chilean President Michelle Bachelet and witness the signing of a bilateral agreement on education. — CNA/yt Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Singapore Singapore Oct manufacturing slides, outlook gloomyReuters - 13 minutes ago RPT-UPDATE 3-Thai protesters wounded near Bangkok airportReuters - 1 hour 8 minutes ago MFA urges Singaporeans to postpone travel to BangkokChannel NewsAsia - 1 hour 14 minutes ago Singapore visitor arrivals fall 8.1 pct yr/yr in OctReuters - 1 hour 35 minutes ago Singapore warns against travel to ThailandReuters - 1 hour 56 minutes ago Enlarge Photo S’pore, Brazil ink agreements on trade, air services & technology Most Popular – Singapore Viewed Massive 300-billion dollar rescue for Citigroup Michael Jackson strikes 'amicable' deal with Arab sheikh Standard Chartered to raise $2.66 billion in rights issue Britain fights recession with huge stimulus package Obama plans second stimulus package of up to 700 bln dlrs: report View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular
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Tuesday, 25 November 2008 - S’pore, Brazil ink agreements on trade, air services & technology