The partnership was signed at a virtual ceremony by Singapore’s Minister-in-charge of Trade Relations S. Iswaran and French Trade Minister Franck Riester. (Photo: S. Iswaran/facebook)

Singapore – Singapore and France have signed a digital and green partnership (DGP) which aims to strengthen cooperation in these fast-growing sectors.

The partnership was signed at a virtual ceremony by Singapore’s Minister-in-charge of Trade Relations S. Iswaran and French Trade Minister Franck Riester on March 14.

It will see both countries developing a work plan comprising cooperative projects with clear and tangible outcomes in various areas including smart transport, financial services and medical technology. The two countries would establish a joint working group, with representatives from each country, to oversee the implementation of initiatives under the digital and green partnership.

Iswaran said the partnership is part of Singapore's larger strategy to build a network of international partnerships that enable its companies - especially small and medium-sized enterprises - to seize growth opportunities in digital and green economies.

It is also the latest in a series of initiatives to continuously update and strengthen the robust economic partnership between France and Singapore, he said, adding that the DGP will also complement discussions at the multilateral, regional and bilateral levels, including ongoing efforts with the European Union to develop the EU-Singapore Digital Partnership.

France currently is Singapore's second and fourth-largest EU trading partner in goods and services, respectively. France also is the Asian nation's fifth largest EU investor. Singapore is France's top trade and investment partner in the Association of Southeast Asian Nations. There are more than 2,500 French businesses and 300 French startups in Singapore.