Marcos, Wong agree to deepen Philippines-Singapore cooperation in AI, trade, investments
At A Glance
- President Marcos and Singapore Prime Minister Lawrence Wong agreed to deepen cooperation in trade, artificial intelligence, investments, healthcare, and social development.
- The two leaders also agreed to pursue new bilateral agreements to further strengthen Philippines-Singapore relations.
- Marcos and Wong pledged to work closely on the transition of the ASEAN chairmanship while promoting regional peace, stability, and unity.
President Marcos and Singapore Prime Minister Lawrence Wong have agreed to deepen cooperation in trade, artificial intelligence (AI), investments, healthcare, and social development as the two countries seek to expand economic ties and address emerging opportunities in the digital economy.
Following their meeting at the Istana in Singapore on Wednesday, July 15, Marcos said the discussions focused on broadening collaboration in key growth sectors while exploring ways to maximize the benefits of AI and attract more investments.
"Today, I met with Prime Minister Lawrence Wong to discuss how the Philippines and Singapore can expand trade, navigate the adoption of AI, attract more investments and deepen cooperation in the health and social sectors," the President said in a Facebook post.
Singapore, for its part, said there is significant potential to further strengthen bilateral cooperation in artificial intelligence as well as the green and digital economies, while noting that it remains one of the Philippines' largest foreign investors.
New bilateral agreements
Marcos said the two leaders also agreed to move forward with new bilateral agreements.
"We also agreed to move forward with new bilateral agreements that will strengthen our partnership and benefit our peoples," the President said.
ASEAN cooperation
Wong also thanked Marcos for the Philippines' leadership as this year's Association of Southeast Asian Nations (ASEAN) chair and said Singapore would work closely with Manila to ensure a smooth transition when it assumes the bloc's chairmanship next year.
"So we will work closely together to ensure a smooth transition and continue strengthening ASEAN's unity and resilience in this more uncertain world," Wong said in a Facebook post.
President Marcos likewise underscored the importance of continued cooperation between the two Southeast Asian neighbors in promoting regional peace, stability, and shared prosperity.
"As close neighbors and partners in ASEAN, we will continue working together to keep our region peaceful, stable and open to greater opportunities for everyone," he said.
The meeting formed part of Marcos' July 14 to 16 working visit to Singapore, where he has been meeting government officials and business executives to strengthen economic ties, attract investments, and promote the Philippines as a competitive destination for trade and investment.