REMARKS BY SENIOR MINISTER OF STATE FOR TRADE AND INDUSTRY  MS SIM ANN AT THE COMMONWEALTH DAY 2018 RECEPTION, EDEN HALL, SINGAPORE, 12 MARCH 2018

Your Excellency Mr Scott Wightman, British High Commissioner to Singapore,

Dr Anthony Yee, Chairman of the Board of Governors and Trustees of the Royal Commonwealth Society of Singapore,

Excellencies,

Distinguished Guests,

Ladies and Gentlemen,

1.            Good evening. It is a pleasure to join you at this Commonwealth Day 2018 reception.

2.            This is very timely as the Commonwealth gears up for two key events in April. The first is the 21st Commonwealth Games in Gold Coast, Australia. Singapore is fielding a total of 60 athletes (of whom four will be competing in para-events) led by Chef-de-Mission Mr Mark Chay in 12 sports. I understand that some of our Team Singapore athletes are here this evening. I believe you have been training very hard to qualify and prepare for the Games. I take this opportunity to wish you success in your events as you fly Singapore’s flag high at the games.

3.            From 16-20 April 2018, London will play host to the Commonwealth Heads of Government Meeting (CHOGM), where Singapore will be represented by Prime Minister Lee Hsien Loong. We agree with CHOGM 2018’s stated aims of delivering a sustainable, fairer, secure, and more prosperous future for our citizens. This year’s theme, “Towards a Common Future”, is apt given the recent rise in populist sentiments and protectionist measures in some parts of the world.

4.            Indeed, we are witnessing strong currents against free trade. This is despite clear evidence that raising the barriers to trade is harmful to workers and consumers at large. Furthermore, the risk of escalation through retaliation is real. Therefore, instead of turning inward or protectionist, we should work together to find solutions, and put in place policies to ensure that the economic benefits of globalisation are fairly distributed.

5.            The Commonwealth countries must come together to tackle common threats and challenges. I attended the Commonwealth Trade Ministers’ Meeting in London in March last year where we agreed that the Commonwealth can do its part to provide support for strengthening the multilateral trading system. Our efforts to boost intra-Commonwealth trade and investment should complement similar efforts taken at the WTO and other multilateral fora. The gathering of our leaders this April would send a strong message that it is by working together can we go further together.

6.            In this vein, I am pleased to share the excellent news that Singapore has just signed the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) together with ten other countries – including Commonwealth partners Australia, Brunei, Canada, Malaysia, and New Zealand – demonstrating our firm commitment to further trade liberalisation and greater economic integration.

7.            I would also like to take this opportunity to reaffirm our close bilateral relations with the UK, with whom we share a strong and longstanding relationship. Notably, we enjoy robust economic cooperation based on common interests and shared values, not least on the importance of free trade, open markets, and a rules-based multilateral trading system. In this regard, we are grateful for the UK’s leadership and for putting trade and multilateralism at the heart of the CHOGM 2018 agenda. I am certain that CHOGM 2018 under your leadership will be a successful one.

8.            Thank you again for inviting me to this reception. May you all have a pleasant evening.