MFA Press Statement: Visit of Minister, Prime Minister's Office, Second Minister for the Environment and Water Resources and Second Minister for Foreign Affairs Grace Fu to Lisbon, Portugal (7 to 9 May 2013)

            Minister, Prime Minister’s Office, Second Minister for the Environment and Water Resources and Second Minister for Foreign Affairs Grace Fu visited Lisbon, Portugal from 7 to 9 May 2013.  This is the second leg of her three-stop visit to Europe from 5 to 10 May 2013.  During her visit, she had bilateral meetings with her Portuguese counterpart Minister of State and Minister of Foreign Affairs Paulo Portas, Minister of Economy and Employment Álvaro Santos Pereira, and Secretary of State to the Prime Minister Carlos Moedas.  Minister Fu also met with President of the Foreign Affairs and Portuguese Communities Commission of the Portuguese Parliament Alberto Martins and members of the Commission, and with President of the Portugal-Singapore Parliamentary Friendship Group Dr Basilio Horta and members of the Group.

            Minister Fu was warmly received by the Portuguese leaders.  They reaffirmed the warm relations between Singapore and Portugal, and noted PSA Singapore's significant investment in Sines Container Terminal, located 150 km south of Lisbon.  The Portuguese leaders briefed Minister Fu on the economic reforms undertaken by Portugal to improve its economic competitiveness and generate growth.  Minister Fu noted the progress made through the reforms and congratulated Portugal on the successful issuance of 10-year bonds on 7 May 2013, which was its first issuance of such long-term bonds. 

            Minister Fu and the Portuguese leaders expressed satisfaction with the substantive conclusion of the EU-Singapore Free Trade Agreement (EUSFTA) in December 2012.  They looked forward to the early approval and ratification of the EUSFTA, which will strengthen bilateral trade and business linkages to the mutual benefit of Singapore, Portugal and the EU.

            Minister Fu also attended a business roundtable organised by Portuguese trade and investment agency AICEP Portugal Global this morning.  The roundtable was attended by Portuguese businessmen and representatives from a broad range of Portuguese companies, including members of the Portugal-Singapore Chamber of Commerce and Industry.  It provided a platform to explore new economic opportunities between Singapore and Portugal.  AICEP Portugal Global also encouraged Singapore companies to use Portugal as a springboard to enter Latin American and African markets, while recognising the role of Singapore as a gateway for Portuguese companies into Southeast Asia and the larger region.

            Minister Fu is accompanied by Member of Parliament Dr Intan Azura Binte Mokhtar, as well as officials from the Ministry of Foreign Affairs and Ministry of Trade and Industry.  Minister Fu will next visit Dublin, Ireland from 9 to 10 May 2013.

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MINISTRY OF FOREIGN AFFAIRS

SINGAPORE

9 MAY 2013