Speech by Minister of State for Trade and Industry Gan Siow Huang at JETRO 70th Anniversary Business Forum

Ambassador of Japan to Singapore, His Excellency Mr. Hiroshi Ishikawa 

President of JETRO, Mr. Susumu Kataoka, 

Distinguished Guests, 

Ladies and Gentlemen 

Introduction 

1.      Good morning. I am very delighted to be here. It is an important milestone – not just for the Japan External Trade Organization (JETRO) at its 70^th anniversary, but also to celebrate the good and deep relations between Singapore and Japan. 

Singapore and Japan’s Strong Bilateral Relations 

2.      This year we celebrate 60 years of diplomatic relations. Our cooperation has been longstanding and deeply rooted. In fact, JETRO Singapore is one of JETRO's earliest overseas offices, reflecting the importance that Japan has placed on Singapore as a partner and gateway to the region. 

3.      Earlier this year in March, Prime Minister Lawrence Wong and Prime Minister Sanae Takaichi announced the upgrade of our bilateral ties to a Strategic Partnership. The Strategic Partnership builds on the strong foundation of our cooperation across five areas: free trade and economic cooperation; digitalisation and technology; security and defence; green transition and energy cooperation; and partnership and exchanges. The Memorandum of Cooperation between EnterpriseSG and JETRO that will be signed today is a concrete example of how we are translating this Strategic Partnership into practical economic cooperation. 

4.      When I consider the Singapore-Japan relationship, what stands out is not just its longevity, but its depth. Japan remains one of Singapore's most significant economic partners, consistently ranking among our top 10 in both trade and investment. In 2025, bilateral merchandise trade surpassed SGD 56 billion, and Japan is Singapore's third largest source of foreign direct investment. In 2024, Japan was Singapore's second largest services export destination – after the United States – with bilateral services trade reaching over SGD 67 billion. 

5.      Beyond these aggregate figures, the strength of our ties is perhaps best seen in the strong presence of Japanese companies in Singapore, many of which are here today. There are more than 5,300 Japanese companies in Singapore today. Many have chosen Singapore as their base for regional and global operations – establishing business control towers, innovation centres, and global trading headquarters. 

JETRO’s Longstanding Contributions 

6.      For 70 years, JETRO Singapore has served as an important bridge between our two countries – supporting generations of Japanese businesses in their international exploration and expansion, connecting them to opportunities in Singapore and the region, and of course encouraging Singapore companies to explore opportunities in Japan’s innovation and industry ecosystems. JETRO's early presence in Singapore is a clear recognition that our two countries are natural partners, because we are open economies with a shared commitment to free trade and regional stability. 

JETRO’s role in the Next Bound of Singapore-Japan Relations 

7.      As we look ahead, the international environment is markedly different from that of even a decade ago. Businesses face heightened geopolitical tensions and uncertainties, shifting trade and investment flows, rapid technological change, and growing concerns over economic security. For open and trade-dependent economies like Singapore and Japan, these developments make it even more important for us to work together with trusted partners to strengthen resilience, diversify opportunities, and build new engines of growth. 

8.      This is where JETRO can play an important role in the next bound of Singapore-Japan relations. Last year, PM Takaichi announced 17 strategic sectors that Japan will focus on. Singapore and Japan are already exchanging views and collaborating in several of these areas, including semiconductors, quantum computing, AI, pharmaceuticals, and energy. These are areas that will shape the future not just in Singapore and Japan, but in the region. By connecting our companies, investors, researchers, and innovation ecosystems, JETRO can help translate these emerging opportunities into practical partnerships and sustainable growth. 

9.      The EnterpriseSG-JETRO Memorandum of Cooperation (MoC) provides a practical platform to turn shared ambitions into business outcomes. I hope that by combining Japan’s technological and industrial strengths with Singapore’s connectivity, trusted networks, and understanding of the Southeast Asia region, our businesses can unlock new opportunities and contribute to sustainable and resilient growth. I am confident that JETRO will continue to serve as a trusted bridge, just like it has been for the last 70 years, between our two business communities – helping our companies build partnerships and grow and journey together in a more uncertain world. 

Conclusion 

10.   Congratulations once again to JETRO on your 70^th anniversary, and congratulations to EnterpriseSG and JETRO on the MoC you will be signing today. I wish everyone a fruitful forum ahead. 

11.   Thank you.