During a state visit to Sweden, Singaporean President Tharman Shanmugaratnam announced an agreement to deepen cooperation between Singapore and Sweden in advanced technologies, social cohesion, and business growth. The two nations are set to collaborate in areas such as semiconductors, artificial intelligence, quantum technologies, the Internet of Things, and 5G and 6G applications. This partnership is part of a joint declaration on strategic cooperation in trusted and innovative technologies, marking 60 years of diplomatic relations between the countries.
The discussions during President Tharman’s visit underscored opportunities for Singapore and Sweden to learn from each other’s strategies for inclusive economic growth. President Tharman highlighted Sweden’s commitment to social equality alongside its entrepreneurial spirit, noting the country’s robust start-up ecosystem supported by a network of investors, mentors, and business founders. This model provides valuable insights for Singapore as it aims to enhance start-up funding and foster innovation.
Both countries also share similar approaches to bolstering international competitiveness among businesses. Instead of directly intervening in corporate strategies, they focus on establishing predictable regulations and supporting overseas business expansion. The dialogue between the leaders emphasized the importance of cooperation between employers and trade unions, particularly in areas such as worker training, job transitions, and adapting employees to industry changes. President Tharman noted that both nations are committed to ensuring economic transformation creates opportunities while supporting workers.
As part of the five-day visit, President Tharman explored potential collaborations with prominent Swedish companies such as Spotify, Ericsson, and Volvo. These discussions aim to strengthen business and technological cooperation between the two countries.
Over the past six decades, bilateral collaboration between Singapore and Sweden has expanded from defense technology to include research, education, and energy. The latest discussions seek to build on this foundation by enhancing innovation, supporting inclusive growth, and improving competitiveness in a challenging global environment.
