Singapore, Japan agree to deepen bilateral cooperation to fight Covid-19 pandemic
Both countries will refrain from imposing export restrictions on essential supplies
Singapore
THE Ministry of Trade and Industry (MTI) and Japan's Ministry of Economy, Trade and Industry on Friday issued a joint statement agreeing to deepen bilateral economic cooperation to secure supply chains for essential goods and ensure that their economies stay resilient during the Covid-19 pandemic.
"Singapore and Japan are committed to keep markets open, and work with like-minded partners to ensure the continued flow of trade across borders," MTI said.
Both countries will refrain from imposing export restrictions on essential supplies, such as agricultural food products and medical supplies.
As countries prepare for a recovery, both nations highlighted they could explore "facilitating the essential movement of people with mutual assurance".
In particular, Singapore and Japan pledged to step up bilateral cooperation to facilitate businesses in the digital economy.
They plan to strengthen joint efforts to adopt new digital technologies and enhance startup participation through public and private collaboration on digital transformation, such as a new online-based programme initiated by Japan External Trade Organization (Jetro), Enterprise Singapore and other agencies.
Both countries also affirmed the importance of signing the Regional Comprehensive Economic Partnership (RCEP) this year, which will allow businesses to benefit from the enhanced integration of regional trade networks.
Minister for Trade and Industry Chan Chun Sing said: "Japan and Singapore are like-minded partners that are deeply plugged into the global trading system with strong mutual interest in areas such as pharmaceuticals and consumer electronics."
He added: "We will work together to strengthen the resilience of supply chains and connectivity networks, explore resuming the essential movement of people, and deepen cooperation in the digital economy. These will help to boost business confidence and better position our economies for recovery."
