Paving the road to success — Singapore’s relationship with Abu Dhabi strengthens opportunities Startups & SMEs

The 14th Abu Dhabi-Singapore Joint Forum recently took place, reaffirming the strong economic ties between the United Arab Emirates and Singapore. Minister-in-Charge of Trade Relations S Iswaran and Chairman of the Abu Dhabi Executive Affairs Authority Khaldoon Khalifa Al Mubarak attended the forum to discuss various key topics related to the two countries’ relations. This highlighted a range of opportunities for startups and SMEs exploring market expansion.

The forum discussed the importance of the relationship between the two countries, its S$29.8 billion bilateral trade in 2022 and the benefits of its strategic agreements and MOUs. The highlight for startups and SMEs, however, was the announcement of the Global Innovation Alliance (GIA) node in Abu Dhabi, which was announced last year.

Five key areas were highlighted during the forum: innovation, digitalisation and fintech, skills and capacity development, low-carbon maritime initiatives, and food security. This suggests that companies in these spaces will find many opportunities in the UAE market, as well as gain access to the region’s leading VC funding (S$1.4bn in 2022).

Startups and SMEs looking to expand into the United Arab Emirates can join the GIA programme. In partnership with Rainmaking Expand, the GIA × Rainmaking Expand: United Arab Emirates programme helps Singaporean startups and SMEs enter the market and achieve commercial success. The programme is tailored for growth-oriented companies, focusing on commercial outcomes, and includes 18 months of post-programme support.

The forum concluded on a positive note, emphasising the significance of bilateral ties and the part that innovation plays in our future. Startups and SMEs can use the influence of these connections to expand and make a meaningful effect in various markets.

Learn more about the GIA × Rainmaking Expand: United Arab Emirates programme by booking a call with us today.

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