[WASHINGTON] SINGAPORE is exploring the possibility of a talent exchange programme in fields such as artificial intelligence (AI) with the United States, said Trade and Industry Minister Gan Kim Yong.

“We are looking at how we can have talent exchange to continue to attract AI talent,” he said in an interview with the Singapore media at the end of his visit to Washington, DC, on Wednesday (May 1), adding that discussions are “making good progress”.

“We do need a lot of talent that is professionalised in the AI area, and then over time, we also need to invest in training our workers to be AI-enabled,” he said.

Last December, the Singapore government announced plans to triple its AI talent pool to 15,000 practitioners over five years.

In the global race to regulate AI, Gan said Singapore is eager to collaborate with the US to jointly develop a set of rules, given the latter’s position as a forerunner in the field.

“The US is also a leader in AI, and therefore, we are very keen to work with the US to see how we can jointly develop this set of guidelines and guard rails,” he said.

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It is important for countries around the world to come together to develop this set of guidelines, he said. This would ensure that AI – particularly generative AI – is developed and applied in a safe and secure way to prevent abuse by criminals and undesirable elements.

These discussions are taking place under the US-Singapore Partnership for Growth and Innovation (PGI), launched in October 2021 to explore collaboration in emerging areas including the digital economy and clean energy.

Such collaborations are an example of how bilateral relations have evolved from when the US-Singapore Free Trade Agreement (USSFTA) came into force 20 years ago.

“The benefit of this FTA goes beyond just FTA because of the relationship we’ve built over the 20 years,” he said. “There’s stronger mutual understanding and appreciation of each other’s concerns and interests and how we can find opportunities for collaboration.”

Even so, the minister acknowledged that the general mood towards trade has shifted and is different from when the USSFTA was first inked.

At a commemorative reception for the USSFTA on Monday, US Trade Representative Katherine Tai spoke about the need to acknowledge the flaws of the traditional FTA and seek a “new way forward” that is more “worker-centred”.

Asked if he expects an eventual update to the USSFTA in view of the US’ priorities, Gan pointed out that the US enjoys a trade surplus, while Singapore businesses have had many opportunities to grow. In other words, the FTA continues to benefit both countries.

Nonetheless, they are developing new models of collaboration, and the Indo-Pacific Economic Framework for Prosperity – a US-led framework involving 14 countries including Singapore – is an example of a platform where members can work on projects beyond an FTA.

Trade, he added, will continue to be important to the global economy, but there is now also a lot more attention paid to national security and supply chain resilience.

While there will be challenges ahead amid the restructuring, Gan believes Singapore is well-positioned to seize opportunities as a hub for trading and financial services.

“We are also discussing with the US, for example, how Singapore can participate in the supply chain of many of their industries,” he said.

Noting that there are about 6,000 US companies in the city-state, he added: “They are very familiar with the Singapore environment, and they know that Singapore is a trusted partner, and therefore, there are opportunities for us to see... whether Singapore will be able to find an opportunity in the new supply chain arrangement.”

On Tuesday, Gan co-chaired with Tai a joint committee meeting of the USSFTA, and they agreed to continue work on shared areas of interest including digital economy and trade facilitation issues, such as paperless trading and supply chain resiliency.

Asked if he sees the US position on digital trade evolving, Gan said he believes the US recognises that digitalisation is gaining momentum and that they are preparing themselves to manage the process in a way that will support the economy.

However, data privacy remains a sensitive security issue that they would have to address, he said.

“They are quite mindful that the digital economy is an important part of the economic development,” he said. “They will need to develop rules and guidelines on this before they are able to make a big push into the digital economy.”

With the Washington leg of his trip complete, Gan will next head to the Canadian capital of Ottawa, followed by New York, before returning to Singapore.