Singapore, Japan sign MOUs

Singapore, Japan sign MOUs

Singapore and Japan signed two deals Friday agreeing to study
ways their nations can jointly explore business opportunities in
India, China and Southeast Asia.

The memoranda of understanding, or MOUs, were signed in
Singapore by officials from the Japan External Trade Organization
and Singapore' Productivity and Standards Board and the Trade
Development Board.

The MOUs are "components of the comprehensive free trade
agreement that Singapore and Japan reached just two weeks ago,"
said John Chen, a senior Singaporean trade official.

The free trade agreement - which will be the first ever for
Japan - is expected to be signed by the end of the year.

Chen said both Japan and Singapore had interests in investing
throughout the region and would use their close ties to work
together.

Chen said about 27 percent, or 1,600, of the 6,000
multinational companies in Singapore were Japanese.

Under the MOUs, business "missions" will research investment
and business opportunities in third countries for Japanese and
Singaporean companies to tap. -- AP