India’s External Affairs Minister, Dr. S. Jaishankar held a meeting with Singapore’s Minister of Trade and Industry, Gan Kim Yong, on Friday morning. During this meeting, they explored new avenues for cooperation and discussed collaborating in emerging fields. This gathering occurred as part of the External Affairs Minister’s visit to Singapore, underscoring the commitment to strengthening the bilateral ties between India and Singapore.
The ministers engaged in conversations about fostering opportunities for continuous learning, developing a workforce that is prepared for the future, and emphasizing knowledge and skill development as integral components of their strategic partnership.
The collaboration, focusing on these fresh domains of cooperation, has the potential to unlock new opportunities for trade and investments between India and Singapore. By bolstering this partnership, India can further solidify its influence in the region, given that both nations are members of various multilateral alliances such as ASEAN, the East Asia Summit, the G-20, and the Indian Ocean Rim Association (IORA), all of which share mutual interests and common objectives.
Singapore stands as one of India’s most significant trade and investment partners within ASEAN, contributing to 27.3% of India’s total trade with ASEAN during the 2021-2022 period. Additionally, Singapore ranks as the foremost source of Foreign Direct Investments in India. Enhanced cooperation in trade with Singapore has the potential to initiate a noteworthy transformation in India’s maritime trade landscape, particularly in light of the impending Vizhinjam port development.
Nice to meet Trade & Industry Minister Gan Kim Yong today morning.
Our discussions centered around new domains of cooperation with long term implications. Looking forward to developing these ideas at the ISMR meeting. pic.twitter.com/m20mpQYy2j
— Dr. S. Jaishankar (@DrSJaishankar) October 20, 2023