18 Nov 2015
Deputy Prime Minister and Coordinating Minister for Economic and Social Policies Tharman Shanmugaratnam chaired the Sixth Session of the High-Level Russia-Singapore Inter-Governmental Commission (IGC) together with First Deputy Prime Minister of the Russian Federation Igor Shuvalov in Moscow on 17 November 2015.
DPM Tharman and First DPM Shuvalov reaffirmed the growing bilateral relationship between the two countries. Building on this, there were several new initiatives discussed at the IGC meeting. First, it was agreed that officials will commence the process to negotiate a comprehensive Free Trade Agreement (FTA) between Singapore and the Eurasian Economic Union (EAEU), which comprises Russia and four other countries in the region.[1] This FTA will lay the groundwork for our companies to expand their operations into each other’s regions in the future. For Singapore, the EAEU offers a combined market of 180 million people and a total GDP of US$4.2 trillion.
Second, commercial collaboration between Singapore and Russia is growing in several sectors:
(i) Changi Airports International is finalising the terms of agreement for it to develop and manage Vladivostok International Airport, which is an important part of Russia’s plans to redevelop the Russian Far East.
(ii) There is strong interest among Singapore’s offshore and marine companies in opportunities in Russia, and food production companies in both countries to increase exports to each other’s markets.
(iii) ST Electronics is developing transport solutions for certain Russian cities involving sensor and simulation technologies. It is also collaborating with Russian security services provider Siber Security to manufacture and jointly promote ST Electronics’ product “Agilfence” in Russia.
(iv) Singapore’s Tanstarr Group is entering into long-term contracts with PJSC Lukoil for supply of jet fuel, while Pavilion Energy has signed a 10-year agreement with Gazprom for supply of liquefied natural gas (LNG).
Third. the two countries will promote the use of Singapore’s commercial dispute resolution services, and training of civil servants.
DPM Tharman welcomed Russia’s interest to use Singapore’s commercial dispute resolution services. Singapore International Arbitration Centre, which is among the leading five arbitration centres internationally and is highly regarded for both its impartiality and efficiency, is well placed to serve Russian companies, especially those with business engagements in Asia.
The DPMs noted discussions between Singapore’s Civil Service College and Russia’s Ministry of Open Government to develop a programme for senior Russian representatives to visit Singapore to exchange views on efficient governance and Smart Nation technologies.
The DPMs noted the progress made in the establishment of the Russian Cultural Centre in Singapore, which will facilitate cultural exchanges between the two countries. They also welcomed the updating of the 1994 MOU between Singapore’s then-Ministry of Information, Communications and the Arts and Russia’s Ministry of Culture concerning Cooperation in the Fields of the Arts and Heritage.
The DPMs witnessed the signing of the following non-commercial MOUs and agreements, which will enhance exchanges between Singapore and Russia:
(i) Protocol to the Russia-Singapore Avoidance of Double Taxation Agreement;
(ii) Russia-Singapore Visa Abolition Agreement for Diplomatic, Official and Service Passport holders;
(iii) Russia-Singapore Labour MOU to enhance cooperation between Singapore’s Ministry of Manpower and Russia’s Ministry of Labour and Social Protection in the areas of social security systems, occupational safety and health, and policies and programmes for improving workforce employability; and
(iv) MOU between NTU and Moscow State University (MSU) to promote official graduate exchanges and collaboration on graduate recruitment.
On the conclusion of the IGC, the co-chairs signed the Joint Statement (attached) and looked forward to the Seventh Session of the IGC in Singapore in 2016.
[1] The EAEU currently comprises Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia. Russia, like its fellow EAEU members, cannot enter into preferential trade agreements on Trade in Goods bilaterally given the existence of its Customs Union.
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MINISTRY OF FOREIGN AFFAIRS
SINGAPORE
18 NOVEMBER 2015
[1] The EAEU currently comprises Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia. Russia, like its fellow EAEU members, cannot enter into preferential trade agreements on Trade in Goods bilaterally given the existence of its Customs Union.
