Iswaran says Singapore and Germany can deepen collaboration in two areas

Germany is one of Singapore's trade partners in the EU.

Minister for Transport and Minister-in-charge of Trade Relations, S Iswaran, said Singapore and Germany can further collaborate on digital economy and sustainability.

In his speech at Singapore Evening, Iswaran said Singapore has been an "early mover in connecting and growing digital economies with like-minded partners."

"We have established Digital Economy Agreements (DEAs) with several countries such as Australia, New Zealand, Chile, the United Kingdom and South Korea. These agreements establish digital trade rules, and enable mutual recognition of standards for interoperability in digital trade,"

"Our ongoing collaboration with the EU to develop the EU-Singapore Digital Partnership will add an important digital dimension to our economic ties," he added.

With the need for climate action becoming more pressing, Iswaran said more countries are taking steps to reduce their carbon emissions.

Recently, Singapore signed its first Green Economy Agreement with Australia to reduce non-tariff barriers to trade in green goods and services, and enable cross-border investments in low-carbon
technologies.

The Lion City also inked a sustainability and innovation pact with Germany to deepen their cooperation on sustainability and green growth.

"The hydrogen economy is one important decarbonisation pathway where we can work together," he said

Singapore has served as the gateway for German businesses to break through the Asia-Pacific market, housing over 2,000 companies from sectors like pharmaceuticals, chemicals, electronics, automotive, and logistics.

Recently, Singapore held events engaging and supporting German and European companies to grow their businesses in the Asia Pacific, including the Industrial Transformation Asia Pacific trade show and the 17th Asia-Pacific Conference of German Business (APK).

"Singapore and Germany’s excellent relationship is based on close collaboration for mutual benefit in areas of traditional strength, as well as, new and emerging opportunities. We look forward to building on this solid foundation to create new and exciting possibilities for our enterprises and our people," Iswaran said.