Business
Singapore’s Senior Minister Celebrates 60 Years of Ties with Japan
Senior Minister Lee Hsien Loong celebrated the longstanding relationship between Singapore and Japan during the Singapore National Day Celebrations held at the Expo 2025 in Osaka on August 24, 2023. He emphasized that the partnership, forged over the past six decades, is crucial for the future development of both nations.
Historical Foundations of Cooperation
Mr. Lee traced the roots of the bilateral relationship back to the 1960s, when Japanese investments significantly contributed to Singapore’s early industrialization. He remarked, “Japanese companies were among the first to believe in Singapore’s potential.” Notable firms such as Sony, Panasonic, Shimano, and Sumitomo played integral roles by investing in Singapore, creating thousands of jobs and transferring valuable technical expertise.
The signing of the Japan-Singapore Economic Partnership Agreement in 2002 marked a turning point, facilitating closer collaboration. Today, Singapore and Japan rank among each other’s top trading partners. Notably, Singapore emerged as Japan’s leading investor in 2023, showcasing the depth of their economic ties.
Modern Collaborations and People-to-People Connections
Looking ahead, Mr. Lee highlighted ongoing collaborations between Singaporean and Japanese companies in sectors such as artificial intelligence, renewable energy, and smart city innovations. Both countries share a similar strategic outlook, working together to promote free trade, strengthen supply chains, and enhance regional security. As the country coordinator for ASEAN-Japan relations, Singapore aims to further develop the ASEAN-Japan Comprehensive Strategic Partnership to deepen Japan’s engagement in the region.
Beyond economic factors, Mr. Lee underscored the importance of people-to-people connections that enhance bilateral relations. In 2022, nearly 700,000 Singaporeans visited Japan, while close to 600,000 Japanese traveled to Singapore. There are over 30,000 Japanese residents in Singapore and approximately 3,000 Singaporeans residing in Japan. Mr. Lee noted, “Our youth are forging ties in the next generation, with flourishing exchange programmes and research partnerships.” He highlighted the growing interest among Singaporean young people in studying the Japanese language and culture, which fosters trust and mutual understanding between the two nations.
As part of the festivities marking Singapore’s 60th National Day, Mr. Lee reflected on the significance of the event. The 17-metre-tall “Dream Sphere” pavilion, which has attracted 1.5 million visitors, including members of the Japanese Imperial family, symbolizes the celebration of both national identity and international friendship. “Today, we are celebrating both Singapore’s 60th birthday as well as the enduring friendship between Singapore and Japan,” he stated, emphasizing that this relationship exemplifies what countries can achieve through mutual respect and shared purpose.
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