Today, U.S. Secretary of Commerce Gina Raimondo and Singapore Minister for Trade and Industry Gan Kim Yong signed a Memorandum of Understanding implementing the U.S.-Singapore Partnership for Growth and Innovation (the Partnership), which aims to strengthen U.S.-Singapore trade and investment collaboration. The Partnership expands and elevates work done under the U.S.-Singapore Infrastructure Collaboration Platform Memorandum of Understanding launched in 2016 and renewed in 2018. Secretary Raimondo and Minister Gan issued the following statement:

“The Partnership will establish a vehicle for deepening economic integration between the United States and Southeast Asia, building on the already strong commercial ties between firms in the United States and Singapore. To this end, we will convene activities for government and private sector leaders to promote commercial partnerships and exchanges on policy developments, starting with four pillar areas: digital economy, energy and environmental technologies, advanced manufacturing, and healthcare. For each of these pillars, the Partnership will also elevate discussions on standards and other cross-cutting policy issues.

“Through these engagements, the two governments are committed to delivering commercially meaningful outcomes on priority topics such as e-commerce, cybersecurity, clean energy and climate change solutions, medical technologies, and advanced manufacturing technologies. Additionally, we plan to discuss immediate and long-term challenges that face both of our economies, including enhancing supply chain resilience. Stakeholders and governments from the broader Southeast Asian region will be invited to participate in Partnership activities wherever possible.

“The expanded Partnership signifies the United States and Singapore’s shared commitment to support our countries’ respective businesses and industries and bring about inclusive growth in our economies and our regions.”

Secretary Raimondo and Minister Gan also lauded the effort in terms of what it will bring for both nations.

Secretary Raimondo: “This Memorandum of Understanding serves to expand the robust Partnership between the United States and Singapore with a view to meeting the shared challenges of today’s global economy. This important Partnership will support economic recovery as we build back from the global pandemic and underscores the United States’ deep-seated commitment to creating and maintaining meaningful partnerships with Singapore, Southeast Asia, and the entire Indo-Pacific region.”

Minister Gan: “The signing of the Partnership for Growth and Innovation is another milestone in Singapore’s bilateral relations with the United States. The Partnership supports the shared interests of Singapore and the United States in many forward-looking and growing areas of opportunity. Both countries are committed to working closely for a stronger post-COVID-19 recovery. We will also continue deepening and strengthening our economic partnership with the United States to reach new frontiers of innovation and growth.”