Singapore and Luxembourg are poised to deepen their collaboration in cutting-edge fields such as quantum computing, artificial intelligence, and space technologies. This initiative aims to bolster the enduring partnership between the two nations. Singapore’s Prime Minister, Lawrence Wong, emphasized that both countries face similar challenges due to their small size, limited domestic markets, and scarce natural resources. He noted that their strategic openness and global connections have allowed them to flourish as major financial and business hubs that cater to larger regional markets.
The economic relationship between Singapore and Luxembourg is notably strong. Luxembourg stands as the largest investor from the European Union in Singapore, while Singapore holds the position of being the second-largest investment destination for Luxembourg within the EU. Both countries are also committed to enhancing the ties between ASEAN and the European Union. Wong pointed out that Singapore and Luxembourg share a common interest in fostering regional integration and upholding an open, rules-based international system.
Luxembourg’s Prime Minister, Luc Frieden, is currently on an official visit to Singapore from September 6 to 8. During his visit, he has met with Singapore’s President, Tharman Shanmugaratnam, to discuss geopolitical developments and explore ways to promote stability, predictability, and adherence to the rule of law between the two nations. This visit coincides with the 50th anniversary of diplomatic relations between the two countries and marks a significant milestone in their bilateral relations.
In a move that underscores Luxembourg’s dedication to strengthening its ties with Singapore and the broader region, the country has opened its first resident embassy in Singapore. This new development is seen as a testament to Luxembourg’s commitment to expanding its engagement in Southeast Asia. Additionally, Prime Minister Frieden is set to deliver the 48th Singapore Lecture on September 8, where he will discuss Europe’s role and autonomy in the face of a changing global landscape.