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The friendship between Singapore and Germany has strengthened over
the years since we established diplomatic relations in 1965. Our economic
relations are extensive and multifaceted, underpinned by strong business and
people-to-people ties and a shared belief for free and open trade. Germany
is Singapore’s largest trading partner in the European Union (EU), and
Singapore is Germany’s top economic partner in Southeast Asia. Singapore
is a base for more than 1,500 German companies from a wide array of sectors
and industries, many of which have been present in Singapore for decades.
As Southeast Asian economies pursue greater regional economic integration
under the ASEAN Economic Community (AEC), opportunities abound for
German companies. The AEC has transformed ASEAN into a competitive
single market and production base. With over 600 million inhabitants, a
growing middle class, and rapid urbanisation, ASEAN is an increasingly
attractive market.
Mr Lim Hng Kiang
Minister for Trade and Industry
(Trade), Republic of Singapore
Singapore is well-positioned as a test-bed for innovative urban solutions, and
German companies can trial new technologies here before implementing
them on a larger scale in the region. I hope that German businesses
will continue to use Singapore as a springboard to enter the dynamic
ASEAN market.
Singapore is also seeking to hone our comparative advantage to be futureready.
As world leaders in technology, innovation and research, German
companies will continue to be important partners for Singapore as we embark
on the next phase of our economic development towards a ‘Smart Nation’.
There is much that we can share and learn from each other’s experience.
The EU-Singapore Free Trade Agreement (EUSFTA) will provide an added
boost to our relationship. As the first agreement between the EU and an
ASEAN member state, the EUSFTA will enhance our trade and investment
flows and strengthen EU engagement of the region. More importantly,
the EUSFTA is an important building block to an eventual EU-ASEAN FTA.
Through the EUSFTA, German companies will benefit from improved market
access and business opportunities in Singapore. I look forward to your
continued support for the expeditious ratification of the EUSFTA.
For more than a decade, the Singaporean-German Chamber of Industry and
Commerce (SGC) has been an important partner in improving Singapore-
Germany economic bilateral relations. I would like to express my appreciation
for your efforts in bringing our businesses and people closer together. I wish
you every success in the year ahead, and look forward to many more years of
meaningful partnerships between Singapore and Germany.
Lim Hng Kiang
Minister for Trade and Industry
Republic of Singapore
SGC Business Magazine 2016/2017
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