Singapore, Pacific Alliance’s work plan to boost digital economy, green energy

Both parties will review the work plan to ensure progress.

The Singapore and Pacific Alliance (PA) will enforce the joint work plan, which seeks to push for innovation in the digital economy, green energy, and logistics amongst others.

In January 2022, the work plan was signed by Minister of State for Trade and Industry Alvin Tan signed the Work Plan with Mexico’s Secretary of Foreign Affairs Marcelo Ebrard to strengthen their economic ties.

Specifically, here are the areas of mutual interest in the PA-Singapore Joint Work Plan:

a. Digital Economy, Technology, and Innovation. To facilitate greater digital trade between the PA and Singapore both parties will explore digital projects, such as FinTech, blockchain, and electronic payments.

b. Green Energy and Sustainability. To promote sustainable economic growth in our regions, Singapore and the PA will explore collaborations in low carbon technologies (such as hydrogen and carbon capture), carbon credits, and the exchange of knowledge and best practices for green growth.

c. Connectivity, Logistics, and Trade Facilitation. Singapore and the PA will further cooperation on trade facilitation projects, such as collaborations on better linking National Single Windows, to strengthen connectivity between our markets and regions, and ease people-to-people, goods, and services flows.

d. Business links, people links, education, and capacity building. To raise awareness and mindshare of each other’s markets and provide growth opportunities for our companies and people, Singapore and the PA will explore ways to facilitate more exchanges at the business and people-to-people level.

Possible projects include academic exchanges between our tertiary institutions, internship programmes, and capacity building initiatives for experience-sharing and networking.

The high-level meeting of PA and Singapore will continuously review the work plan to make sure there is progress in its implementation.

Aside from signing the plan, Tan, who will stay in Mexico from 15 May to 19 May, met Mexican firms, business leaders, and Singapore firms there. 

He also engaged with Mexican youth and businesses at a Fireside Chat in Mexico’s Tac de Monterrey University.