Our people-to-people ties are also growing. These attractions will draw even more tourists to Singapore, and KEPRI's tourism sector will no doubt benefit from the economic spill-over.Ħ Relations between Singapore and KEPRI are not just limited to economics. By next year, our two Integrated Resorts will also commence operations. For this to happen, foreign investors must be confident that their concerns over issues such as labour relations, infrastructure, and legal certainty are taken care off.ĥ Singapore will be hosting the inaugural F1 night race next month. The challenge is to turn such investor interest into real investments in KEPRI. I understand that the promotion trip attracted a good turnout of businessmen. Recently, Singapore's Trade and Industry Minister Mr Lim Hng Kiang and Indonesia's Trade Minister Ibu Mari Pangestu embarked on a Joint Investment Promotion trip to Japan to promote the FTZs in KEPRI. Much progress has been achieved in the establishment of the Free Trade Zones (FTZs) in KEPRI. Singapore's longstanding economic ties with KEPRI look set to continue with the signing of the Framework Agreement on Economic Cooperation in Batam, Bintan and Karimun in 2006. We are also each other's most important source of visitors.Ĥ In many ways, KEPRI epitomises the close economic cooperation between Singapore and Indonesia. Singapore is Indonesia's second-largest trading partner, with bilateral trade reaching US$66 billion last year, an increase of 5.5% over 2006. In 2007, Singapore was the largest investor in Indonesia with a total of 124 projects worth US$3.75 billion in realised investments. Our leaders and ministers also know each other well.ģ In particular, Singapore's economic ties with Indonesia have grown from strength-to-strength. Singapore and Indonesia share common strategic interests. I am delighted to join all of you this evening in celebration of Singapore's 43rd National Day.Ģ Bilateral relations between Singapore and Indonesia are excellent.

Foreign Service Administration Specialist.Foreign Service Officer (Political and Economic).Foreign Service Officer (Functional and Corporate).

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