Singapore is well-known for its efficient land use planning and has a lot of experience thus; the country disclosed interest and offered Pakistan its proficiency for building 5 million low cost houses in the five year plans.
Mr Shamsher Zaman Singapore’s ambassador to Jordan, vice chairman of South Asia Business Group, and chairman of Middle East Business Group who was leading a 22-member trade and investment delegation implanted the proposal.
Keeping in line, a Memorandum of Understanding (MoU) was signed between the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and Singapore’s Business Federation. Both the sides settled to endorse and facilitate mutual economic cooperation in accord with the laws and regulations of Pakistan and Singapore.
Mr Zaman said Pakistan being world’s sixth largest populated country provides remarkable budding for bilateral growth of economic relations. Singapore can be a hub for financing services and expertise for Pakistan and energized by the government’s pledge to economic reform and amplified stability in the country, he added.
Ali Haider Zaidi , Federal Minister for Maritime Affairs said heavy Chinese investment is coming to the country under the China-Pakistan Economic Corridor (CPEC) in infrastructure projects which will be preoccupied to special economic zones and industry.
As Pakistan is the second largest economy in South Asia and could export agriculture products to Singapore. Currently Pakistani exports to Singapore stand at $68 million only and imports at $865 million.