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1. Combating Covid-19 and the Way Ahead

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1. Combating Covid-19 and the Way Ahead Issue 8/2020 1. COMBATING COVID-19 AND THE WAY AHEAD Image: DPM Heng’s Facebook Page In Parliament on 5 and 15 Oct, Deputy Prime Minister, Coordinating Minister for Economic Policies and Minister for Finance Heng Swee Keat spoke on Singapore’s progress in combating the COVID-19 pandemic and the way ahead in a post-COVID-19 world. He emphasised that Singapore, as both a city and a nation, must remain open, invest in our people to build a dynamic workforce, and support vulnerable groups. Singapore must ensure that our approach to fiscal spending remains principled and prudent. He also outlined the economic roadmap for Singapore, where we will: • Build up Singapore as a Global-Asia node of Our guiding principle is technology, innovation and enterprise. We will prudence, not austerity. We will broaden and deepen links to build up Singapore’s continue to invest decisively in role as the heart of Asia’s growth while building our national priorities, with a up our physical and digital connectivity with key deep commitment to leave markets. Beyond being a trusted broker for trade behind a better future for our and information flow, Singapore must also be a children." key node for new ideas and globally competitive – DPM Heng on 5 Oct enterprises. • Redouble efforts to foster inclusive growth. We will need extensive upskilling and reskilling of our workforce to equip Singaporeans so that they are able to get good jobs in a changing labour market, and meet the challenges ahead. • Invest in economic resilience and sustainability as a source of growth and a competitive advantage. Singapore must continue to diversify our sources of economic growth to be more self-sufficient and build resilience against shocks by producing essential supplies, such as food and medical supplies, locally. [Sources: MOF, TODAY & ST, 5, 15, 16 Oct] 1 2. 30 YEARS OF DIPLOMATIC RELATIONS On 3 Oct, Singapore and China commemorated 30 years of diplomatic relations. In their congratulatory messages to their counterparts, President Halimah Yacob, PM Lee Hsien Loong, DPM Heng and Minister for Foreign Affairs Dr Vivian Balakrishnan expressed appreciation for Image: MFA the close and longstanding bilateral relations, and mutual support during the COVID-19 pandemic. Chinese President Xi Jinping and Premier Li Keqiang said that they looked forward to broadening and deepening cooperation with Singapore in various areas. Here are the key points of Singapore and China’s relationship: • Diplomatic relations began on 3 Oct 1990 • Partnerships in the new normal. At a with the signing of a joint communique at meeting on 13 Oct, Dr Balakrishnan and the United Nations headquarters in New Chinese State Councillor and Minister for York. This came 14 years after former PM Foreign Affairs Mr Wang Yi reaffirmed Lee Kuan Yew’s first visit to China in 1976. their commitment to resuming cross- As a sign of goodwill and sensitivity to our border travel between Singapore and neighbours, Singapore was the last of the China, and developing and distributing original five ASEAN nations to normalise COVID-19 vaccines and therapeutics. diplomatic relations with China. Today, Earlier this month, DPM Heng also China is Singapore’s largest trading highlighted areas of future cooperation, partner, and Singapore has been China’s including managing an ageing population, largest foreign investor since 2013. finance and technology. • Mutual support during the COVID-19 • Shared commitment to multilateral pandemic. Singapore was able to bring cooperation. Both countries highlighted back 266 Singaporeans and their family their commitment to strengthening members from Wuhan on two flights ASEAN-China relations and promoting earlier this year. Both countries also free and open trade with the China- maintained supply chain connectivity to Singapore Free Trade Agreement and the ensure the free flow of goods, especially Regional Comprehensive Economic of medical supplies. Partnership. [Sources: ST, 1 Oct; CNA, 3 Oct; MFA, 13 Oct] 3. COMMITMENT TO MULTILATERAL COOPERATION Images: MCI and MFA 2 In PM Lee’s address at the High-Level Meeting Commemorating the 75th anniversary of the United Nations (UN) on 21 Sep, he observed growing geopolitical tensions and “fissures” in globalisation, and called for continued support for a rules-based multilateral system. • A rules-based multilateral system, with the UN at its core, gives small states a voice and a stake in the global commons. • Multilateral institutions need to be updated to reflect current economic challenges and geopolitical realities. • States need to give the UN a mandate to fulfil its mission, which COVID-19 has made all the more relevant. Dr Balakrishnan attended the 75th Session of the United Nations General Assembly (UNGA) on 26 Sep. In his speech, he said that the COVID-19 pandemic had accelerated threats to the multilateral system and urged all countries to work together to combat the pandemic and build resilience to future challenges. • Multilateral cooperation is essential to overcoming COVID-19 through ensuring access to vaccines and enabling economic recovery. • States should work together on key global challenges. This includes increasing access to technology, managing cyber security, and putting into action the consensus established at the Paris Agreement, by aligning economic recovery with long-term climate goals. • In the long run, multilateral institutions like the UN and World Trade Organisation (WTO) need to establish new norms for international governance and rules for the digital economy. A Leader in Vaccine Multilateralism Singapore and Switzerland are co-chairing the Friends of the COVID-19 Vaccine Global Access (Covax) Facility, which comprises 15 countries who have agreed to cooperate in designing, financing, governing and allocating COVID-19 vaccines. It aims to deliver two billion doses of safe and effect vaccines by the end of 2021. On 20 Oct, Ambassador Umej Bhatia, Singapore’s permanent representative to the UN office in Geneva, shared the reasons for spearheading this coordinated response to the pandemic: • Push back against vaccine nationalism. Instead of trying to secure exclusive access to vaccines, countries have a higher chance of developing not just vaccines, but treatments and diagnostic tests by working together. • Build strength in numbers. A rules-based multilateral system benefits small states like Singapore by widening our options and allowing us to represent the interests and concerns of other small states, to ensuring that our voices are head on the international stage. • Set a precedent for solving global issues. Collaboration through Covax would set new norms and grounds for future cooperation on common issues such as climate change. [Sources: PMO, 21 Sep; ST, 21, 22 Sep and 20 Oct; MTI, 22 Sep; MFA, 23, 27 Sep] . [Any feedback on this issue? Let us know through https://go.gov.sg/feedbacknif, or email us at [email protected].] 3 .
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