UK, Singapore sign new strategic partnership

UK, Singapore sign new strategic partnership

The Prime Minister Rishi Sunak has signed, Saturday, a new strategic partnership with Singapore to grow the UK’s economy and enhance shared security with Singaporean Prime Minister Lee Hsien Loong on the margins of the G20 Summit in India.

A press release by the Prime Minister Office statement said that the agreement would harness the UK and Singapore’s expertise in new technologies like cyber and AI to create jobs in both our countries.

In addition to enhanced economic cooperation, the new UK-Singapore Strategic Partnership will strengthen security cooperation, science and technology innovation, and research and development.

This includes collaboration to counter new and emerging threats in domains like cyber, through a first of its kind partnership between Singapore’s new Digital and Intelligence Service and the UK.

Singapore is one of the UK’s closest and most dynamic partners in the region, with our 21 billion Sterling Pound (USD 26.3 billion) trade relationship accounting for 40 percent of our total trade with Southeast Asia.

Singaporean entities have 226 Sterling Pounds (USD 281.7 billion) billion invested in the UK.

Last year the UK and Singapore signed a first-of-its-kind Digital Economy Agreement, to help businesses in both our countries seize new trade opportunities.

Partnership follows agreements with countries including France, Japan and the US, as PM uses global relationships to deliver on the UK’s priorities.

Source: Kuwait News Agency (KUNA)