Economics

Singapore’s development path a good example to Armenia – PM

On the sidelines of the World Economic Forum in Davos, Armenian Prime Minister Karen Karapetyan had a meeting with Tharman Shanmugaratnam, Singapore’s Deputy Prime Minister and Coordinating Minister for Economic and Social Policies.

Singapore’s Deputy PM emphasized the considerable contribution of Armenians to the development of the country, attaching special importance to the Armenian cultural legacy.

Tharman Shanmugaratnam noted that Armenia can play an important role in the development of relations between the Association of Southeast Asian Nations (ASEAN) and the South Caucasian region.

“It’s very important that we have no problems and are resolute to deepen the bilateral cooperation,” he said.

Karen Karapetyan, in turn, underlined that the path of Singapore’s development is a good example to us. He pointed to a number of spheres that can be attractive to Singaporean business, such as winemaking, agriculture, education and IT. He also attached importance to the implementation of educational exchange programs.

“We are interested in boosting talks between the Eurasian Economic Union and Singapore’s Free Trade Zone. Such cooperation could contribute to the growth of trade and investments and implementation of mutually beneficial programs,” he said.

The parties highlighted the importance of eliminating double taxation and hailed the fact that the final agreement is close to being completed.

PM Karen Karapetyan invited his counterpart to Armenia.

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