Singapore to strengthen trade ties with Russia

Singapore Trade Minister George Yeo and representatives from 13 local companies will visit Russia from April 11-17 to strengthen economic relations, the government said Saturday.

The delegation will be making stops in Moscow and St. Petersburg to meet with industry insiders and Russia-based Singaporean businessmen to gain insights into the economic environment of the former Soviet country, International Enterprise (IE) Singapore said in a statement.

In Moscow, the team will meet with financial and legal specialists and industry experts who will explain Russia's economic and investment climate and especially its consumer electronics, property development and automotive sectors.

The team will also meet with Singaporean businessmen working in Russia, who will share their experiences working in the country.

The delegates will then head off to St. Petersburg to sign a Memorandum of Understanding with the Asia Pacific Cooperation Centre.

"Majority of the companies on this mission are on their first business trip to Russia. Through this mission, we hope to expose Singapore-based companies to opportunities present in the relatively unchartered region of Russia," director of international operations in Europe of IE Singapore, Aw Siew Juan said.