Trade Minister to attend economic talk with Dutch delegates

Trade Minister to attend economic talk with Dutch delegates
Minister for Trade and Industry Lim Hng Kiang affirming bilateral relations wtih the Netherlands Minister for Foreign Trade Lilianne Ploumen.

SINGAPORE - Singapore Minister for Trade and Industry Mr Lim Hng Kiang met with the Netherlands Minister for Foreign Trade Mrs Lilianne Ploumen today.

The two ministers reaffirmed bilateral relations, and discussed the benefits of the EU-Singapore Free Trade Agreement in enhancing the EU's economic linkages with Singapore and to the wider ASEAN region.

Mrs Ploumen is in Singapore as part of the delegation for the State Visit of Her Majesty Queen Beatrix of The Netherlands from 24 to 25 January 2013.

The delegation also comprises Their Royal Highnesses The Prince of Orange, Princess Máxima of The Netherlands and Minister of Foreign Affairs Mr Frans Timmermans. This is Mrs Ploumen's first official visit to Asia since her appointment on 5 November 2012.

Mr Lim and Mrs Ploumen will meet close to 30 Dutch and Singapore business leaders at the CEO Roundtable organised by the Embassy of the Kingdom of the Netherlands on January 24.

This roundtable discussion is held in conjunction with the State Visit of Her Majesty Queen Beatrix of The Netherlands and Their Royal Highnesses The Prince of Orange, and Princess Máxima of The Netherlands from January 24-25.

The Netherlands is an important economic partner to Singapore. In 2012, the Netherlands was Singapore's 3rd largest trading partner in the EU with total bilateral trade standing at S$18.68 billion.

The Netherlands is also Singapore's top European investor with an estimated FDI stock of S$65.98 billion at end-2011.

There are more than 1,000 Dutch companies in Singapore involved in a wide range of industries including petrochemicals and electronics. Dutch companies in these industries, including strong players such as Shell and Philip Electronics, conduct a scope of activities along the value chain, from manufacturing to research and development in Singapore.

Singapore companies have also established their presence in the Netherlands, in industries such as Marine and Offshore, Logistics and Information Technology. CWT Commodities and Keppel Offshore and Marine are two Singapore companies that have done well in their respective sectors.

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