Singapore, Japan sign 3 pacts related to trade, infrastructure, technology

The pacts were signed at a business symposium co-organised by The Straits Times and Japanese media group Nikkei Business Publications at the United Nations University in Tokyo.

Prime Minister Lee Hsien Loong, who is in Tokyo for a four-day official visit, will witness the exchange of the documents with Japanese Prime Minister Shinzo Abe on the side lines of a bilateral meeting to be held on Wednesday evening.

The trade agreement involves the International Enterprise (IE) Singapore and Japan External Trade Organisation (Jetro), and promises to boost connectivity between both countries.

This will be done in three ways: Sharing market knowledge and business networks through company visits, fostering business collaborations and undertaking joint projects in 'third-country markets' such as in Southeast Asia and South Asia.

IE Singapore has been busy helping homegrown companies expand into Japan. Last Thursday, barbecued pork retailer Bee Cheng Hiang opened its first Japan store in Tokyo's chic Ginza district, while Salad Stop will also make its Japanese debut later this year in Tokyo, noted IE Singapore chief executive officer Lee Ark Boon.

Budget airline Scoot this week announced direct flights between Hokkaido and Singapore, allowing Japanese agricultural producers to fly supplies straight from the north of Japan to other markets in the region via Singapore.

In a speech at the symposium, Lee said the trade agency looks forward to working closely with Jetro, its Japanese counterpart, and Japanese companies to promote technological advancements and innovation.

The infrastructure pact was inked by Singapore urban developer Surbana Jurong, and the Japan Overseas Infrastructure Investment Corporation for Transport and Urban Development (also known as Join).

Both companies will strengthen their collaboration and information exchange with regards to potential infrastructure projects in territories such as Singapore, Southeast Asia, India, Middle East and Africa.

The third agreement was between two tertiary institutions - the Nanyang Technological University (NTU) and Tokyo Institute of Technology (TIT), which last signed a memorandum of understanding in January 2015.

Under the new supplementary pact, signed by NTU chief of staff, Professor Lam Khin Yong, and TIT executive vice-president for education and international affairs, Professor Toshio Maruyama, the two institutions will enter into a research collaboration agreement. They will also work together in joint research and technology developments in areas such as environmental engineering, nuclear safety and engineering, robotics and technology enhanced learning.