Singapore inks pact with WBG

Singapore inks pact with WBG

SINGAPORE: Singapore and seven other countries have signed a pact with the World Bank Group aimed at promoting trade and investments with the WBG's developing member countries, a government agency said on Wednesday.

Also signing the agreement in Washington were trade and investment promotion agencies from Australia, New Zealand, Estonia, Latvia, Slovenia, Hungary and Canada, said an IE Singapore statement.

Private sector liaison officers (PSLOs) appointed by each agency "will be responsible for coordinating activities in their respective countries with the various local business intermediary organizations," it noted.

Singapore has started to more actively engage international organizations such as the Asian Development Bank, United Nations and WBG to secure projects and business opportunities.

Within Asia, Singapore is the Asia hub for the WBG's PSLO network. There are currently six PSLOs in the region, including Australia, New Zealand, Japan, Hong Kong and India. -- DPA