FM Katrougalos discusses trade during his meetings in Singapore

Greek Foreign Minister Giorgos Katrougalos and his counterpart in Singapore, Vivian Balakrishnan, discussed bilateral relations and ways to futher expand them at their meeting in the framework of the Greek minister's two-day visit to Singapore that began Wednesday.

Katrougalos analysed Greece's advantages as key hub for transactions between the East and western and central Europe, and the importance of the rising interconnectivity Greece is pursuing and trade giants are interested in, transforming the port of Piraeus into a major gateway to the EU markets.

During the meeting it was agreed to assume joint iniatives with the private sector for the strengthening of the their cooperation in the fields of innovation and start ups as well as in the trade sector.

The two ministers also signed an agreement to avoid the double taxation. They also discussed developments in the EU and the multiple challenges that Europe has to deal with, and they pointed out the positive results already produced by the EU-Singapore free-trade agreement.

Finally the two ministers attended the inauguration ceremony of the Greek Embassy to Singapore.

Soon after his meeting with the FM, Katrougalos was received by Prime Minister of Singapore Lee Hsien Loong. Their meeting reaffirmed the excellent relations between the two countries, especially their long collaboration in the shipping sector, and their mutual will to deepen and enhance their relations.

During his first day in Singapore, said diplomatic sources, Katrougalos' meetings focused on the economy. Specifically, the Greek FM met with Trade and Industry Minister Chan Chun Sing and they discussed options for strengthening bilateral economic and commercial cooperation. Katrougalos underlined the need for Greek enterprises to have greater access to the market of Singapore.

On Wednesday morning, the minister addressed the Greek-Singapore Business Forum which focused on broadening the business missions between the two sides and further enhancing the extroversion of Greek enterpreneurship.

The same day Katrougalos also delivered a speech at the Institute of International Relations of Singapore on "The future of Europe".