Singapore and Sweden have committed to deepening their collaboration in advanced technologies, social cohesion, and economic competitiveness, as announced by Singapore’s President Tharman Shanmugaratnam during his state visit to Sweden. The visit, which marks 60 years of diplomatic relations between the two nations, resulted in a joint declaration on strategic cooperation in trusted and innovative technologies.
The areas of collaboration include semiconductors, artificial intelligence, quantum technologies, the Internet of Things, and applications for 5G and 6G networks. These efforts aim to bolster innovation and support inclusive growth amid a challenging global environment.
President Tharman emphasized the opportunity for both countries to learn from each other’s approaches to inclusive economic growth, noting Sweden’s balance between social equality and entrepreneurship. Sweden’s robust start-up ecosystem, supported by a network of investors, mentors, and business founders, serves as a model for Singapore as it seeks to enhance start-up funding and innovation.
In terms of business growth, both nations share strategies to help companies succeed internationally through predictable regulations and support for overseas expansion, rather than intervening in corporate strategies directly. This includes a focus on cooperation between employers and trade unions to support workers through training and job transitions as industries evolve.
During the visit, President Tharman engaged with Swedish companies such as Spotify, Ericsson, and Volvo, exploring avenues for further business and technological collaboration. The discussions highlighted the potential for future growth in bilateral cooperation, building on a history that spans sectors such as defense technology, research, education, and energy.
The strengthened partnership between Singapore and Sweden aims to improve competitiveness while ensuring that economic transformations continue to create opportunities and support workers, reflecting both countries’ commitment to fostering a sustainable and inclusive economic future.