SINGAPORE, 24th October, 2016 (WAM) — The International Energy Agency, IEA, has welcomed Singapore as an IEA Association Country, deepening the partnership between both sides for a more sustainable and secure energy future.

The announcement was made jointly by Singapore Minister S Iswaran, Minister for Trade and Industry, and Dr. Fatih Birol, IEA Executive Director, at the opening of the Singapore International Energy Week, SIEW, 2016.

Becoming an Association Country is particularly important for Singapore given its role as a regional energy hub in the heart of Southeast Asia – a rapidly developing region where energy demand is set to increase 80% by 2040 due to a booming population and robust economic growth.

The IEA Association provides a platform for the IEA to engage non-member countries to work together on issues including energy security, energy data and statistics, and energy policy analysis. It enables non-member countries to participate in a variety of activities, including IEA standing groups, committees, and ministerial meetings.

Speaking on the occasion, Mr. S Iswaran said, “Singapore fully supports the IEA’s new vision to expand its outreach to emerging economies, particularly in Asia. This initiative will help build a more inclusive global energy architecture and is especially important as Asia grows in importance in the global economy and energy landscape. We look forward to a fruitful partnership with the IEA, underpinned by substantive activities for the benefit of all regional and international stakeholders.”

Dr. Birol said, “I am particularly happy to welcome Singapore into the IEA family. It is an important player both regionally and globally and has put in place strong policies to ensure secure, sustainable and competitive energy supply. We look forward to building even stronger ties between the IEA and Singapore, especially because it is in a strategic position to support the energy transition in Southeast Asia.”

WAM/Esraa/Moran