[WASHINGTON] Singapore and Canada have agreed to enhance bilateral cooperation in science, technology and innovation, the two countries said in a joint statement on Thursday (May 2).

This covers areas such as artificial intelligence (AI), biotechnology, and digital and green technologies.

“We are excited to explore potential synergies,” Singapore’s Minister for Trade and Industry Gan Kim Yong said during his introductory visit to Ottawa. He was there to meet his Canadian counterpart, Minister of Export Promotion, International Trade and Economic Development Mary Ng.

Both countries have vibrant science, technology and innovation ecosystems, and were ranked among the top 15 in the Global Innovation Index, Gan noted at an event to announce the agreement in the Canadian capital.

Concurring, Ng said Singapore, as one of the most innovative economies globally, offers “incredible opportunities” for businesses in a range of industries, while Canada is “an equally attractive” trade and investment destination for Singapore businesses looking to gain a foothold in North America.

She added that the two countries work very closely together, thanks to their diverse and educated workforce, as well as business-friendly environments.

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Gan said while Singapore and Canada have already been working closely together on platforms such as the Eureka Network, which fosters international cooperation in innovation, they can do more to promote awareness of business opportunities among their companies and facilitate co-innovation.

They are also working on building links between their research organisations and exploring joint research, talent exchanges and other forms of partnerships, he added.

Officials on both sides have had positive discussions on the green economy, Gan said, adding that he looks forward to furthering these talks and identifying tangible ways to work together.

The Ministry of Trade and Industry (MTI) said that Gan and Ng plan to work closely through a framework for green economy cooperation, particularly in the areas of green and low-carbon technologies, carbon pricing and markets, trade and green economy initiatives, as well as green and transition financing.

According to the joint statement, enhanced cooperation may take the form of partnerships that seek to convert advanced research into commercial applications, or that facilitate increased access to research, technology, markets and talent.

The two countries have also agreed to support research that is oriented towards international commercialisation, as well as projects between Canadian and Singaporean small and medium enterprises (SMEs). The most innovative companies, said Ng, tend to be SMEs.

Both nations will build connections between research organisations, market-oriented networks and innovation agencies to explore the best ways to support research and innovation.

There will also be an exchange of knowledge and best practices between Singapore and Canada.

Shared principles

The agreement to enhance bilateral cooperation is based on four principles, said the joint statement.

First, both countries acknowledge that science, technology and innovation play a fundamental role in fostering economic growth, competitiveness and prosperity.

Second, both see themselves as global leaders in complementary research, development and innovation areas.

Third, they consider international cooperation to be mutually beneficial to the researchers and businesses of Canada and Singapore.

Finally, to succeed in the global innovation economy, they aim to strengthen their abilities to accelerate the translation of innovations, the protection of intellectual property, the commercialisation of emerging technologies, and the growth of their domestic companies in regional and global markets.

The two countries may also establish appropriate bilateral consultation mechanisms comprising representatives from each country, said the joint statement. This is aimed at identifying new opportunities and areas for enhanced cooperation, and coordinating the implementation of relevant activities.

Gan said Singapore and Canada have been “natural partners” at international platforms such as the World Trade Organization, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and the Asia-Pacific Economic Cooperation, given that they share an “enduring commitment” to several principles.

This includes free trade, respect for the rule of law, and upholding an open, inclusive and rules-based multilateral trading system.

Both countries also enjoy a warm friendship and growing economic links, he added. Bilateral trade in services quadrupled in the past decade and stood at S$7.5 billion in 2022, while trade in goods was healthy at over S$4 billion.

Ng called Singapore and Canada like-minded partners, noting that Canada had in February 2023 chosen Singapore for its regional trade missions launch, as part of its Indo-Pacific strategy.

At a separate reception hosted by Ng, Gan also pointed out that Singapore and Canada have long cooperated on areas such as cybersecurity, infrastructure, education, technology, innovation, defence, and people-to-people exchanges.

He noted the “growing Canadian presence” in Singapore, with more than 1,500 Canadian companies there. Many of them view the city-state as a launch pad for the region, he said.

He assured Ng that Singapore will continue to play its part as a “safe and secure regional gateway” for Canadian companies.

“Whether it is new sectors like AI, or existing cooperation in trade, I am confident that our close friendship gives us a firm foundation to build on for the future,” he said.

Ottawa is Gan’s second stop in North America, after his official visit to Washington, DC, in part to commemorate 20 years of the US-Singapore Free Trade Agreement.

During his stay, he will also engage other Canadian counterparts and the Canadian business community.