Singapore and London signed a Memorandum of Understanding yesterday to promote business and economic spinoffs between the two Olympic host cities, according to a report in Today (Wednesday, January 14, 2009).

The MOU was signed by Singapore’s Minister for Community Development, Youth and Sports, Vivian Balakrishan and the United Kingdom’s Minister for Trade and Investment, Gareth Thomas.

“Singapore will have companies based here wanting to sell the benefits of their expertise from the 2010 Youth Olympics into London for the 2012 Olympics,” said Mr Thomas in Today.

“There were many British companies involved in Beijing…and they can help in the 2010 Olympiad here. It’s trying to create that virtuous circle of businesses from the UK and Singapore working on the Olympics.”