KUALA LUMPUR: Singapore and China can work together to strengthen development across Southeast Asia, with digitalisation and the green economy identified as key areas for bilateral and regional cooperation.
Singapore Deputy Prime Minister Gan Kim Yong, who is also Trade and Industry Minister, said both countries could build on decades of cooperation to strengthen capabilities in Singapore and across Asean.
"Singapore and China have spent decades building trust through mutually beneficial cooperation. We should now draw on that trust to build capabilities in Singapore and across Asean," he said.
Speaking at the annual FutureChina Global Forum on Sept 25, Gan said connectivity and openness had been important drivers of Asia's growth, but geopolitical rivalries were putting pressure on them.
With businesses and workers concerned about being left behind, economies risked turning inward and adopting protectionist measures, he said.
"We have to make openness work better for businesses and for people… Resilience requires us to build stronger capabilities at home, while expanding our connections abroad."
BILATERAL PARTNERSHIP
Gan said bilateral agreements between Singapore and China provided businesses with greater certainty, while both countries had a track record of industrial and connectivity projects.
"China is pursuing innovation and industrial upgrading, while Singapore is sharpening our own economic strategy and developing new sources of growth," he said at the forum, organised by government-linked non-profit Business China.
"We can combine our complementary strengths and seize emerging opportunities together."
He identified artificial intelligence (AI) as an area for closer collaboration, citing the Singapore-China Digital Policy Dialogue as a platform for exchanging views on AI governance.
Companies and research institutions could also work together to develop business applications for AI, he said.
Singapore had also signed agreements with China to establish green and digital shipping corridors at municipal, provincial and national levels.
"China has deep technological and manufacturing capabilities, while Singapore brings strengths in areas such as finance, connectivity and project implementation," Gan said.
REGIONAL GROWTH
Gan said the benefits of Singapore-China cooperation should extend across Southeast Asia, adding that greater regional prosperity would also benefit businesses.
"A stronger and more resilient Asean should be a shared priority for Singapore and China," he said.
He stressed that industrial upgrading should go beyond trade and investment to include local enterprises and workers in capability-building efforts.
Referring to commitments on the digital and green economies, as well as supply-chain connectivity under upgrades to the Asean-China Free Trade Area, Gan said these pledges should translate into practical opportunities for businesses and workers.
"The aim is not for every economy to do exactly the same thing. It is for businesses across the region to build a competitive niche in value chains, and for workers to see pathways to progress," he said.
"That is how regional integration becomes more relevant and resilient."
Gan added that Singapore would work to deepen integration within Asean when it assumes the bloc's chairmanship in 2027.
"We want an Asean that remains open to the world, with the capabilities, connections and agency to be able to shape our own future," he said.
Source:The Business Times
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