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IE Singapore, Latin America's CAF sign MOU

Mr Teo Eng Cheong, chief executive officer of IE Singapore.

SINGAPORE and Latin America deepened institutional ties today with the signing of a memorandum of understanding between International Enterprise Singapore (IE Singapore) and CAF - the Development Bank of Latin America.

The MOU provides a framework for both parties to work on capacity building, facilitating the exchange of knowledge and best practices, as well as collaboration on economically sustainable development projects in Latin America.

The agreement was was signed by IE Singapore chief executive officer Teo Eng Cheong and president and CEO of CAF Enrique Garcia at the eleventh edition of the biennial Latin Asia Business (LAB) Forum. Organised by IE Singapore, the forum aims to foster investment, trade and thought leadership between Asia and Latin America.

At a subsequent keynote panel, Singapore's Deputy Prime Minister and Coordinating Minister for Economic and Social Policies Tharman Shanmugaratnam and Mr Garcia exchanged views on current global economic sentiment, the anticipation over the US Federal Reserve raising interest rates, the Trans-Pacific Partnership, the middle class and the role education plays in development. The discussion was moderated by president and CEO of Americas Society and Council of Americas Susan Segal.

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