Singapore makes friends with Iran

aurvandil

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In a somewhat strange foreign policy move, Minister Yeo has represented the PAP's interest to work with Iran. This is a radical departure from previous policy which tended to view Islamic countries like Iran as a threat to world peace. Of great interest is the mention of nuclear power. It is uncertain how the US, a traditional ally of the PAP, will view this new foreign policy initiative.

Singapore Seeks Economic Cooperation with Iran despite Sanctions

http://english.farsnews.com/newstext.php?nn=8908161614

TEHRAN (FNA)- Singaporean Foreign Minister George Yong-Boon Yeo, who is in Iran for the 9th ministerial meeting of the Asia Cooperation Dialogue (ACD), stressed that new ways of economic cooperation with Iran can be found despite the UN Security Council and western sanctions against Tehran.

Speaking at a joint press conference with his Iranian counterpart Manouchehr Mottaki here in Tehran on Sunday, Yong-Boon Yeo said, "Of course, sanctions may create some problems but there are ways to set them aside."

"Sanctions cannot stop economic development," he added.

The Singaporean minister, however, said that his country is obliged to respect the UN decisions, but at the same time noted, "We can find ways to expand cooperation."

"We, as a free and independent country, are keen on cooperation and are trying to cooperate (with Iran) in those fields that are not covered by sanctions," Yong-Boon Yeo stressed.

"We have always provided help in finding a solution to Iran's nuclear issue and in removing the burden of the sanctions from Iran's economy so that Iran's economy can make progress like Malaysia and India," the minister noted, reiterating that sanctions can never hinder economic development.

As regards Singapore's stance on Iran's nuclear issue, Yong-Boon Yeo stated, "We hope that Iran's nuclear issue would be finally resolved on the basis of mutual respect and trust."

Meantime, he underlined Iran's nuclear rights, and stressed that Iran's right of access and use of the nuclear energy for peaceful purposes should be recognized.

Despite the rules enshrined in the Non-Proliferation Treaty (NPT) entitling every member state, including Iran, to the right of uranium enrichment, Tehran is now under four rounds of UN Security Council sanctions for turning down West's calls to give up its right of uranium enrichment.

Yet, after the UN Security Council approved the fourth round of sanctions on Iran on June 9, the United States and the European Union started approving their own unilateral sanctions against the Islamic Republic over its nuclear program, mostly targeting the country's energy and banking sectors.

Tehran has dismissed West's demands as politically tainted and illogical, stressing that sanctions and pressures merely consolidate Iranians' national resolve to continue the path.

Political observers believe that the United States has remained at loggerheads with Iran mainly over the independent and home-grown nature of Tehran's nuclear technology, which gives the Islamic Republic the potential to turn into a world power and a role model for other third-world countries.
 
The Iranians are one of the pioneers of modern Islamic banking.. something singapore wants to be more involved in.
 
The Iranians are one of the pioneers of modern Islamic banking.. something singapore wants to be more involved in.

I like it. You lent money to them, but they do not need to repay the loan. Dubai style.
 
I think it has something to do with setting up three LNG storage stations in singapore.
Singapore wants to be LNG trading hub. But LNG very explosive and a easy terrorist target, especially when built near population zone. Better to build LNG station in nearby Batam or Bintan, but trading done in singapore.
 
Iran is not a terrorist breeding ground like other Arabic countries. Bush branded them as an 'axis of evil' country because of their nuclear capability.
 
ah? i think it is exempt of interest only.

So far what I know is that they just change the terms and play with words.

For example property purchase: Instead of the usual bank lending you money to buy property and charge you interest, the bank "lease" the "bought" property to you for payments and upon final payment the property is yours. Of course there are legal implications with the property ownership etc.
 
So far what I know is that they just change the terms and play with words.

For example property purchase: Instead of the usual bank lending you money to buy property and charge you interest, the bank "lease" the "bought" property to you for payments and upon final payment the property is yours. Of course there are legal implications with the property ownership etc.

ahhh i see.. Well for sure those arabs aren't going to make a loss. Afterall, they were the ancient scholars of mathematics. the problem is about the accounting treatment of these loans.
 
ahhh i see.. Well for sure those arabs aren't going to make a loss. Afterall, they were the ancient scholars of mathematics. the problem is about the accounting treatment of these loans.

Iranians are not Arabs. They're Persians.
 
Iran is not a terrorist breeding ground like other Arabic countries. Bush branded them as an 'axis of evil' country because of their nuclear capability.

er... Iran is one of the main sponsor of the Hezbollah, providing arms and money. Of course some people also claimed Hezbollah are freedom fighters too.:rolleyes:
 
Iranians are not Arabs. They're Persians.

I know full well they are different races. Here I'm referring to the culture.

"Al" means "the" in Arabic. And there are many mathematical and scientific terms with Arabic roots. eg. algorithm, alchemy, alkali, alcohol, algebra (means the reunion).
 
If all of Uncle Sam's friends are enemies of Iran, then when Uncle Sam once in a while needs some buddies to talk to Iran nicely, then there will be nobody to do so. So, some of Uncle Sams friends must bedek bedek and friend Iran mah!!!

Just like you know why all these years, PRC and Taiwan allow Singapore to be friends with both parties... They need a middleman at times...

Is no coincidence that the first PRC and Taiwan high level official talk was held in Singapore some 20 years ago.

;)
 
George is definitely smart enuff to know that S'pore will gain economically from this diplomatic hand shake in the long run once the embargo is lifted!
 
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