BUSINESS

Singapore and ASEAN to benefit economically from strategic partnerships with US and India

28/11/2022 08:55 PM

SINGAPORE, Nov 28 (Bernama) -- Singapore and ASEAN will benefit economically from Comprehensive Strategic Partnerships (CSPs) with the United States (US) and India, said the republic’s Minister for Foreign Affairs Dr Vivian Balakrishnan.

“Through these CSPs, Singapore can deepen collaboration with India in important areas such as regional connectivity, cybersecurity, and the digital economy to benefit our businesses and people,” said Balakrishnan in his written reply to a Parliamentary question related to CSPs with the two countries.

“With the US, we hope to work together to support ASEAN’s clean energy transition, strengthen the region’s energy security and grid resilience, and establish low-carbon energy solutions and green energy infrastructure,” he added.

Balakrishnan was asked about the expected economic impact for Singapore, and the specific areas of deepened collaboration expected between Singapore and the two countries, respectively following the upgrading of ties with ASEAN to the CSPs level.

The minister noted that the establishment of the ASEAN-India and the ASEAN-US CSPs were sought by both dialogue partners, and they will build on their longstanding and multi-faceted relations with ASEAN to deliver more meaningful, substantive, and mutually beneficial cooperation.

“Singapore welcomed both CSPs, especially the contributions by both India and the US towards an open, inclusive, peaceful, stable, and prosperous region,” he said.

With India, Balakrishnan said ASEAN will commence reviewing the ASEAN-India Trade in Goods Agreement to make it more user-friendly, simple, and trade-facilitative to facilitate stronger trade and investment flows.

With the US, ASEAN will benefit from new initiatives, such as the ASEAN-US Electric Vehicle Infrastructure Initiative and the ASEAN-US Platform for Infrastructure and Connectivity, he said.

“ASEAN and the US will further cooperation in the ASEAN Smart Cities Network and strengthen ASEAN’s public health infrastructure through the ASEAN-US Health Futures Initiative,” said the minister.

-- BERNAMA


 

 


 


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