StanChart hopes to help S'pore, UAE boost economic ties

Bank believes two countries will continue to grow as trade and innovation hubs

- Ovais Subhani

Singapore and the United Arab Emirates (UAE) will continue to grow as trade and innovation hubs despite intensifying geopolitical conflicts and economic fragmentation, according to Standard Chartered Bank.

The bank, which has a long history in both the countries, believes it can play a role in deepening economic ties between the two hubs. Its role could encompass helping them complement each other's strengths while acting as gateways to increased trade and investment flows into the wider Asean region and the Middle East.

The strategy was outlined by the bank's chief executive for Singapore and Asean, Mr Patrick Lee, and Ms Rola Abu Manneh, CEO of the UAE, Middle East and Pakistan, on the sidelines of the Investopia Global Singapore conference held at Grand Hyatt hotel in Singapore last week.

The one-day event organised by the UAE's Ministry of Economy in collaboration with StanChart brought together around 100 senior executives from large corporates in key economic sectors, family offices, financial institutions and the broader investment ecosystem of both the countries.

"We see this as a very interesting time for connectivity between the UAE and Singapore," said Mr Lee.