Singapore Second Minister for Trade and Industry, Mr S Iswaran signed a Bilateral Investment Treaty (BIT) with two African countries today – Burkina Faso and Ivory Coast. The Burkina Faso-Singapore BIT was signed with Minister for Industry, Commerce and Handicraft Arthur Kafando and the Ivory Coast–Singapore BIT was signed with Minister for Commerce, Craft and SME Promotion Jean Louis Billon. Both signings took place today at the 3rd Africa Singapore Business Forum 2014 held in Singapore.
The two agreements signed today will protect investors’ interests from both countries and open up more business and investment opportunities. It also underscores the increasing bilateral trade and growing economic ties between Singapore and the two countries.
On the signing with Burkina Faso and Ivory Coast, Minister S Iswaran said, “The treaties will provide our companies operating in Burkina Faso and Ivory Coast better protection and greater investment confidence, thus promoting investment flows between our countries. It also highlights the scope for greater economic cooperation between Singapore and Africa. Singapore’s ties with Africa are growing and we look forward to building stronger relations with the region.”