Singapore, Britain elevate ties to ‘strategic partnership’ on sidelines of G-20 summit

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Singapore, Britain elevate ties to ‘strategic partnership’ on sidelines of G-20 summit
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As part of these enhanced ties, both countries are committed to deepening their economic relationship. Read more at straitstimes.com.

NEW DELHI - Singapore Prime Minister Lee Hsien Loong and his British counterpart Rishi Sunak on Saturday declared that their countries’ relations would be upgraded to a strategic partnership that will strengthen existing ties and launch new areas of bilateral cooperation.

Singapore’s trade with the United Kingdom totals £21 billion annually, which represents 40 per cent of Britain’s total trade with South-east Asia. It also paves the way for the two countries to conclude negotiations on a bilateral investment treaty that protects and promotes investment between them. Mr Lee and Mr Sunak said closer cooperation in defence and security is aimed at maintaining a free, open, inclusive, stable and peaceful international rules-based order, and in particular, to safeguard regional security.

Singapore and Britain will also collaborate to counter cyber threats through a first of its kind partnership betweenThe two countries’ shared expertise and interests in areas such as technology and clean energy will underscore stronger cooperation in science and technology innovation, and research and development.

and developing low carbon energy technologies, green transport, carbon markets and sustainable finance.Britain joining trade pact CPTPP has marginal immediate benefits, but opportunities are plentiful

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