Second Japan-Singapore Economic Dialogue Held

On April 17, 2024, the second JSED was held in Tokyo.

The launch of JSED was agreed on by the then-METI Minister and Dr. Tan See Leng, Second Minister for Trade and Industry and Minister for Manpower, Singapore, during their meeting in May 2022, with a view to working out the specifics of the efforts under the ASIA-Japan Investing for the Future Initiative announced in January 2022.

At this second dialogue, Japan and Singapore focused on co-creation, an initiative in which the two countries will create the future together, and, from this viewpoint, they held discussions to facilitate specific collaboration projects in the fields of startups and open innovation, digital economy and supply chain resilience, and decarbonization as important themes.

Following this, the two sides agreed to launch the Japan-Singapore Co-Creation Platform, a new collaboration framework to facilitate open innovation among companies, universities, and research institutes in Japan and Singapore. This platform will be led by the Japan External Trade Organization (JETRO) as well as by the Economic Development Board (EDB) and Enterprise Singapore (ESG) of Singapore. It will become a bridge between Japan and Singapore enabling both countries to share cutting-edge knowledge and promote joint development projects. Moreover, the platform will support the promotion of efforts for collaboration between companies and those for commercialization and international deployment of universities’ and research institutes’ technological seeds.

Moreover, based on the details of the second JSED, the two sides released a joint media statement on the future directions of Japan-Singapore collaboration.

• JOINT MEDIA STATEMENT(PDF:74KB)

Outline

Japan-Singapore Economic Dialogue (JSED)

Date:

1:30 p.m. to 5:00 p.m., April 17, 2024 (Japan time)

Venue:

Imperial Hotel (hybrid format)

Japan side:

Mr. Hosaka Shin, Vice-Minister for International Affairs, Ministry of Economy, Trade and Industry (co-chair), officials from the Digital Agency, and personnel from JETRO, the Organization for Small and Medium Enterprises and Regional Innovation, JAPAN (SME Support Japan), and the National Institute of Advanced Industrial Science and Technology

Singapore side:

Mr. Gabriel Lim, Permanent Secretary, Ministry of Trade and Industry (co-chair), and officials from EDB, ESG, and the Infocomm Media Development Authority

Summary of discussions:

1. Startup ecosystems and open innovation
   • Agreement reached on the establishment of the Japan-Singapore Co-Creation Platform
   • Announcement of convening a second edition of the Japan-Singapore Fast Track Pitch
   • Expansion of cooperation between SME Support Japan and the relevant Singaporean business associations, aiming to enhance collaboration between startups and small and medium-sized enterprises
2. Digital economy and supply chain resilience 
   • Sharing of efforts on the Data Free Flow with Trust (DFFT) initiative and AI governance
   • Announcement of launching joint workshops to hold discussions on enriched cooperation in the field of semiconductors
   • Efforts for supply chain resilience through Ouranos Ecosystem, an initiative for data collaboration
3. Decarbonization
   • Efforts under the Asian Zero Emissions Community (AZEC) concept
   • Interim report compiled by the Study Group on GX Product Market Creation

Related Link

• Singapore-Japan Fast Track Pitch Event 2024" to be Held in Singapore (April 17, 2024)

Division in Charge

Asia and Pacific Division, Trade Policy Bureau