1. It is with great pleasure that I welcome President Muizzu, and members of your delegation to Singapore.

2. This year marks a significant milestone as we celebrate the 50th anniversary of diplomatic relations between Singapore and the Maldives.

3. Singapore deeply values our longstanding friendship with the Maldives.

4. As fellow small island states, we share many commonalities. First, we are highly vulnerable to the impacts of climate change. Second, we have limited natural resources. Third, we depend heavily on our trade partners for food and other essential needs. These shared experiences have shaped the way we approach development and international engagement.

5. Our two countries have long supported each other on the global stage. As members of the Alliance of Small Island States, the Forum of Small States, and close partners at the UNFCCC, Singapore and the Maldives have worked hand-in-hand to advocate for small states on climate and sustainability, among other issues.

6. The close ties between our people and businesses are another key pillar in our partnership.

7. Singapore companies from the hospitality sector have been longstanding investors in the Maldives, while 50 Maldivian companies have established a presence in Singapore.

8. The Maldivian government’s efforts to promote investments through this forum will further strengthen our partnership, and open new avenues for collaboration between our businesses.

9. Ladies and gentlemen, we are now living in a world marked by uncertainty. Geopolitical tensions, economic headwinds and climate change continue to test our resilience.

10. At times like this, Singapore hopes to work with like-minded partners to strengthen cooperation and chart paths forward together.

a. I am heartened to see that President Muizzu’s Vision 2040 echoes similar priorities like promoting market access and creating an enabling business environment.

11. Singapore and the Maldives can collaborate more closely to promote investments, and jointly tackle the existential challenge of climate change.

12. First, there is strong potential for Singapore and Maldivian companies to pursue win-win partnerships.

a. Singapore's strengths in areas like infrastructure development, urban planning, and digital services can support the Maldives in its journey towards a more diversified economy.

13. Second, we look forward to deepening cooperation on climate and sustainability.

a. Both Maldives and Singapore are firmly committed to advancing the global climate agenda. We are among the few countries to have submitted our updated Nationally Determined Contributions (NDCs) for 2035. As of last month, only 21 countries or 11% of all Parties, have done so.

b. On Singapore’s part, we have been supporting our industries in the low-carbon transition by providing grants to improve energy efficiency, and developing sectoral maps to guide each sector’s efforts towards net-zero.

c. Happy to note that we signed an MOU on Sustainability and Environmental Cooperation yesterday, paving the way for greater knowledge exchanges and collaboration.

14. As we celebrate 50 years of diplomatic relations, let us look ahead and work towards another 50 years of strong partnership.

a. To our Singapore business leaders, I urge you to work with partners in the Maldives to explore new opportunities for collaboration.

b. To our government counterparts, we welcome further dialogue on how to bring our businesses and people closer together.

15. As a friend of the Maldives, Singapore will continue to be a productive partner in pursuit of our shared goals for growth and prosperity.

16. In closing, I would like to thank the organisers, the Ministry of Economic Development and Trade, and Ministry of Foreign Affairs of the Maldives, as well as the Singapore Business Federation for supporting this forum. This has been a valuable opportunity for our officials and businesses to engage meaningfully and strengthen the bonds between our countries.

Thank you.