The 11th Session of the High-Level Russia-Singapore Inter-Governmental Commission (IGC11) charts progress and identifies sectors for growth
Photo: Ministry of Trade and Industry, Singapore
Senior Minister and Coordinating Minister for Social Policies Tharman Shanmugaratnam and Deputy Prime Minister of the Russian Federation Dmitry Chernyshenko co-chaired the 11th Session of the High-Level Russia-Singapore Inter-Governmental Commission (IGC11), which was held via videoconference between Russia and Singapore on 17 December 2021. They were joined by the Deputy Co-Chairs of the IGC, Second Minister for Trade and Industry Dr Tan See Leng and Russian Deputy Minister of Economic Development Vladimir Ilyichev, as well as representatives of relevant Singapore and Russian ministries and agencies
SM Tharman and DPM Chernyshenko reaffirmed the multifaceted and growing ties between Singapore and Russia since the IGC’s establishment in 2010. In addition to promoting bilateral trade and investments, the IGC has catalysed greater cooperation in a wider range of sectors, including transport; infrastructure; agriculture; digital, innovation, and technology; training and education; culture; and legal cooperation. The Co-Chairs reviewed progress since the 10th Session of the High-Level Russia-Singapore Inter-Governmental Commission, held in Vladivostok, Russia in 2019. Both sides also noted the good progress made to establish the Russian Cultural Centre in Singapore, which, once completed, will contribute to greater cultural exchanges and strengthen people-to-people ties between Singapore and Russia.
SM Tharman and DPM Chernyshenko welcomed strong trade and economic cooperation. Even amidst COVID-19, total bilateral trade in the first three quarters of 2021 increased significantly year-on-year. Collaborations in food trade and the digital sector were robust. The Co-Chairs highlighted the importance of continuing to expand bilateral cooperation, especially as the two economies seek to emerge from COVID-19 and restore growth. Building trade architecture like the Eurasian Economic Union – Singapore Free Trade Agreement (EAEU – Singapore FTA) was crucial in enhancing trade and investment. They looked forward to the expeditious completion of the Services and Investment (S&I) Agreement between Russia and Singapore, which is currently being negotiated, and which is a key component of the EAEU – Singapore FTA. The Co-Chairs acknowledged the positive contribution the FTA would make to Russia-Singapore economic relations when completed, including in boosting business partnerships and establishing stronger ties. On energy, both sides discussed the importance of cooperation, especially in emerging low-carbon solutions such as hydrogen and carbon capture, utilisation and storage (CCUS). Both sides look forward to collaboration opportunities in these areas, including knowledge sharing on energy transition.
SM Tharman and DPM Chernyshenko witnessed the signing of the following Memorandums of Understanding between:
- Singapore’s National University of Singapore (NUS) and Russia’s Skolkovo Institute of Science and Technology, on projects such as educational and research programmes, as well as events and seminars.
- Singapore’s NextEvo International and Russia’s Sportmaster, to develop sustainable fabrics for commercial use.
Both SM Tharman and DPM Chernyshenko signed the Joint Statement (attached) upon the conclusion of the IGC, and looked forward to the 12th Session of the IGC in Singapore in 2022.
MINISTRY OF FOREIGN AFFAIRS SINGAPORE
17 DECEMBER 2021
JOINT STATEMENT IGC11
The Eleventh Session of the High-level Russia-Singapore Inter-Governmental Commission (hereinafter referred to as “the Commission” and “the IGC”) was held via videoconference between Russia and Singapore on 17 December 2021 to promote the development of broad-based cooperation between the Government of the Russian Federation and the Government of the Republic of Singapore (hereinafter referred to as “the Parties”).
The session was co-chaired by Deputy Prime Minister of the Russian Federation Mr. Dmitry Chernyshenko and Senior Minister and Coordinating Minister for Social Policies of the Republic of Singapore Mr. Tharman Shanmugaratnam. They were joined by the Deputy Co-Chairs of the IGC, Deputy Minister of Economic Development of the Russian Federation Vladimir Ilyichev and Second Minister for Trade and Industry of the Republic of Singapore Dr Tan See Leng, as well as representatives of relevant Russia and Singapore ministries and agencies. The meeting was held in an atmosphere of cordiality, friendliness and mutual understanding.
The Parties agreed on the following areas of cooperation.
Bilateral Relations between Singapore and Russia
1. The Parties reaffirmed the multifaceted and growing ties between Russia and Singapore since the IGC’s establishment in 2010. In addition to promoting bilateral trade and investments, the IGC has catalysed greater cooperation in a wider range of sectors, including transport; infrastructure; agriculture; digital, innovation, and technology; training and education; culture; and legal cooperation. The Parties reviewed progress since the 10th Session of the Commission, held in Vladivostok, Russia in 2019, which resulted in the conclusion of six MOUs in the areas of innovation, transportation and logistics, and education and skills training. The Parties also noted the good progress made to establish the Russian Cultural Centre in Singapore, which, once completed, will contribute to greater cultural exchanges and strengthen people-to-people ties between Singapore and Russia.
Trade and Economic Cooperation
2. The Parties welcomed strong trade and economic cooperation. Even amidst COVID-19, total bilateral trade in the first three quarters of 2021 increased significantly year-on-year. Collaborations in food trade and the digital sector were robust. Parties welcomed efforts to enhance food trade. These established new links between exporters and importers on both sides, and provided opportunity for Russian produce to enter the Singapore market. The Parties look forward to seeing new products from each other’s markets, which will add to trade diversity. In the digital sector, the Parties welcomed the addition of Moscow to ESG’s Global Innovation Alliance (GIA) network, joining 15 other cities that are innovation hubs and markets. This will link startups of Russia and Singapore with each other for more opportunities regionally and globally. The Parties noted the successful 2020 and 2021 editions of Singapore Week of Innovation and Technology (SWITCH), which Russian delegations participated in. The Parties recognized opportunities for cooperation in the ICT space, banking and finance sectors.
3. The Parties highlighted the importance of continuing to expand bilateral cooperation, especially as the two economies seek to emerge from COVID-19 and restore growth. Building trade architecture like the Eurasian Economic Union – Singapore Free Trade Agreement (EAEU – Singapore FTA) was crucial in enhancing trade and investment. The Parties looked forward to the expeditious completion of the Services and Investment (S&I) Agreement between Russia and Singapore, which is currently being negotiated, and which is a key component of the EAEU – Singapore FTA. Parties acknowledged the positive contribution the FTA would make to Russia-Singapore economic relations when completed, including in boosting business partnerships and establishing stronger ties. On energy, the Parties discussed the importance of cooperation, especially in emerging low-carbon solutions such as hydrogen and carbon capture, utilisation and storage (CCUS). The Parties look forward to collaboration opportunities in these areas, including knowledge sharing on energy transition and exploring opportunities for the implementation of joint climate-related projects. On sustainable finance, the Parties noted opportunities for cooperation with JSC “DOM.RF” (Russia’s Housing and Urban Development Corporation) to attract investments in environmental, social and governance-related financial instruments. The Parties also agreed to explore collaborations in the infrastructure/transport sectors. The Russian Party suggested to consider the possibility of establishing a Working Group on Urban Development under the aegis of the IGC. In addition, the Parties welcomed the good legal cooperation in international commercial dispute resolution, to support businesses seeking to resolve commercial disputes.
4. The Parties witnessed the signing of the following MOUs:
- Russia’s Skolkovo Institute of Science and Technology and Singapore’s National University of Singapore (NUS), on projects such as educational and research programmes, as well as events and seminars.
- Russia’s Sportmaster and Singapore’s NextEvo International, to develop sustainable fabrics for commercial use.
5. The Parties noted the signing of the MOU between Russia’s CDEK and Singapore’s Business Engineers Asia (BEA) on franchise offices for the delivery and consolidation of goods between both countries, during the Russia-Singapore Business Forum on 17 December 2021.
Other Matters
6. The Parties noted the strong cooperation at the Arctic Council platform, under the Russian – chairmanship. In particular, the Parties noted that the Moscow School of Management (SKOLKOVO) and the S. Rajaratnam School of International Studies were co-organising a panel webinar on the topic of “The Arctic as a Global Transport Corridor: Sustainable Arctic Shipping” on 17 December 2021.
7. The Parties expressed interest in exploring opportunities for cooperation in relation to the Northern Sea Route, in such areas as logistics and shipbuilding. For the purpose of the presentation of the opportunities for cooperation on this track, the Russian Party proposed to hold a thematic seminar in person in the first half of 2022 with the participation of representatives of the business community, as well as scientific and expert circles of the Russian Federation and the Republic of Singapore.
8. The Russian Party invited the Singapore Party to take part in the 25th St. Petersburg International Economic Forum (15-18 June 2022), the 6th International Arctic Forum ‘Arctic: Territory of Dialogue’ (11–13 April 2022), and the 7th Eastern Economic Forum (5-8 September 2022).
Twelfth Session of the Commission
9. The Parties expressed satisfaction with the results of the Eleventh Session of the Commission and agreed to hold the Twelfth Session of the Commission
in Singapore in 2022. The specific dates and venue will be agreed upon through the diplomatic channels.
Done in Russia and Singapore on 17 December 2021, in duplicate, in the Russian and English languages, both versions being equally authentic.
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