Deputy President Paul Mashatile
Deputy President Paul Mashatile has arrived in the Republic of Singapore to begin the first leg of his first working visit to Southeast Asia. The visit is aimed at building and strengthening bilateral relations, particularly increasing trade, economic, knowledge and cultural exchange between the two States.
The importance of the visit is evident from the fact that the Deputy President began his visit with a tour of the Marina Barrage development, Singapore’s innovative water resource management project. Singapore, a resource-poor and water-scarce country, has invested significantly in research and development of water management and sustainability. Most impressively, the country has made big strides in the area of seawater desalination. This makes Singapore an ideal partner for South Africa when it comes to alternative water management and sustainable development.
Singapore is a global financial hub and is considered one of the premier asset management centres in Asia. The World Bank has ranked Singapore as the number one country in the world for ease of doing business since 2006, and the country is an important global aviation and maritime hub. It is also considered an important gateway for the export of goods and services to Southeast Asia and a hub for joint venture partnerships throughout Asia. Therefore, Singapore is an important centre for South African businesses looking for opportunities to expand operations on the continent.
As part of his programme, the Deputy President will visit the Lee Kuan Yew School of Public Policy and deliver a public lecture on the 30 years of diplomatic relations between South Africa and Singapore titled “Celebrating a journey of mutual respect, strategic partnership and cooperation.” This reflects the strong historical ties and mutual respect that the two countries share.
The key areas of collaboration between South Africa and Singapore are trade, investment, tourism promotion, and skills transfer. Singapore is one of South Africa’s largest trading partners in Southeast Asia, with trade between the two countries totalling approximately R28 billion in 2022. It is also a significant investor in South Africa, with investments totalling over R5 billion in sectors such as manufacturing, financial services, and real estate.
In May this year, President Cyril Ramaphosa hosted Prime Minister Lee Hsien Loong of the Republic of Singapore for an Official Visit in Cape Town. This visit continued the high-level engagement the two governments have fostered since diplomatic relations begun in 1993, ahead of South Africa’s democratic transition. Since then, the two countries have shared excellent bilateral relations, which have formed the basis of regular high-level visits.
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