Istana, 20 December 2021 (TDI): Singapore and Russia co-chaired the 11th Inter-Governmental Commission (IGC11) on Friday last week.

The Inter-Governmental Commission was held on video conference due to the prevailing situations of the Covid 19 Pandemic.

Senior Minister and Coordinating Minister for Social Policies Tharman Shanmugaratnam represented Singapore in an online Conference. While Russia was represented by Deputy Prime Minister of the Russian Federation Dmitry Chernyshenko.

Second Minister for Trade and Industry Dr. Tan See Leng of Singapore and Russian Deputy Minister of Economic Development Vladimir Ilyichev were also participating in the IGC.

During the conference, the pair of diplomats reaffirmed the multifaceted and growing ties between the two countries since the IGC’s establishment in 2010.

The Intergovernmental Commission has promoted bilateral trade and investments. In addition to this, it has boosted greater cooperation in a wider range of sectors. This includes cooperation in transport, infrastructure, agriculture, digital, innovation, and technology; training and education, culture; and legal cooperation.

Russian Cultural Centre

SM Tharman and DPM Chernyshenko also highlighted the progress to establish the Russian Cultural Centre in Russian Cultural Centre. Such a center will contribute to greater cultural exchanges when contributed. It will also strengthen people-to-people ties between Singapore and Russia.

While appreciating the strong trade and economic cooperation between the two sides, they noted robust trade amidst COVID-19. The bilateral trade in the first three quarters of 2021 increased significantly year-on-year. They also underlined the significance of expanding bilateral cooperation, as the two economies seek to reemerge from COVID-19 and restore growth.

Co-chairs also stressed the Services and Investment (S&I) Agreement between Russia and Singapore. The agreement is a key component of the EAEU – Singapore FTA and is currently under negotiations.

Moreover, The virtual conference also allowed them to witness the signing of MOUs.