Mr Chan Soo Sen at the Welcome Dinner hosted by IE Singapore held in conjunction with the Mekong Development Forum co-organised by ADB and IE

Welcome Remarks by Mr Chan Soo Sen, Minister of State for Education and Trade & Industry at the Welcome Dinner hosted by International Enterprise Singapore held in conjunction with the Mekong Development Forum co-organized by ADB and IE Singapore on Tuesday, 7 March, 7.30pm at Sentosa Golf Club

Your Excellency, Cham Prasidh, Senior Minister and Minister of Commerce for Cambodia

Mr Liqun Jin, Vice President of the Asian Development Bank

Distinguished Officials and Guests from the Mekong

Ladies and Gentlemen

Introduction

A very good evening. On behalf of Singapore, it is my pleasure and honor to host each of you at tonight’s networking dinner.

I would like to specially welcome Your Excellency, Cham Prasidh, Senior Minister and Minister of Commerce for Cambodia, and Mr Liqun Jin, Vice President of the Asian Development Bank, for joining us as special guests. We truly appreciate your presence with us tonight. I am also pleased to note the high level of government representation at tonight’s dinner.

I trust that today’s session organized by my colleagues at the Ministry of Foreign Affairs was informative for each one of you.

Singapore’s Trade Relations with the Mekong

Singapore is open to share our experiences as a developing nation, and we are constantly looking for ways to promote our trade relations overseas. Over the last 5 years, Singapore has deepened her trading involvement with the Mekong countries, comprising Cambodia, the People’s Republic of China, Laos, Myanmar, Thailand and Vietnam. Singapore’s total trade with the Mekong countries has grown by over 20% per annum. As a whole, the Mekong countries ranked as Singapore’s top trading partner in 2005, further emphasizing the importance of the Mekong to Singapore in terms of trade.

Trade remains a cornerstone of Singapore’s economy. Our total trade value is more than 3 times that of our GDP. In particular, free trade has been a key instrument for trade promotion in Singapore. We are glad to note the progress made towards a completely free trade arrangement under the ASEAN banner with the Mekong countries. We look forward to a time where tariffs and trade barriers are totally removed in the region.

Singapore views the Mekong as a fast expanding region with a host of business potential. Tomorrow's Mekong Development Forum, which is co-organized by IE Singapore, the Asian Development Bank and International Organizations Business Association, is just one such event that testifies of Singapore’s interest in the region. We hope to build more of such successful partnerships, which catalyze greater flow of trade and investment opportunities between Singapore and the region.

Closing Remarks

I hope tonight’s dinner will be an opportunity for some of these partnerships to be explored. Once again, I would like to thank you for the privilege to be your host tonight. I wish each of you an enjoyable evening and a pleasant stay in Singapore.

Thank you.