A dialogue at the Africa Singapore Business Forum (ASBF) 2023 (Source: VNA) It takes place amid Singapore’s acceleration of efforts to seek opportunities for cooperation with African countries to tap into potential, diversify cooperation areas, and bridge African markets with the Association of Southeast Asian Nations (ASEAN).
The three-day event is attended by more than 500 business and government leaders from 40 countries, including 14 from Africa.
In his opening remarks, Singaporean Minister for Trade and Industry Gan Kim Yong called for strengthening partnerships to address grave challenges today, noting that the best response to such challenges is to deepen cooperation across regions.
“At the same time, we continue to strengthen our trade ties with the rest of the world through free trade agreements”, he said.
The minister also highlighted Singapore’s role in the trade between Africa and Asia and held that efforts should be made to secure closer ties between Southeast Asia and Africa.
At the event, Gan witnessed the signing of five memoranda of understanding that aim to boost business partnerships between Africa and partners in such fields as manufacturing, hi-tech agriculture, and environmentally friendly construction materials.
According to Enterprise Singapore, trade between the city state and Africa increased by about 15% annually during 2019 - 2022 to reach 19.4 billion USD last year. Singaporean companies’ investments in the continent totalled 32.1 billion USD as of 2021./.
VNA
