This was published under the 2010 to 2015 Conservative and Liberal Democrat coalition government
Rt Hon George Osborne MP, Chancellor of the Exchequer, will visit Singapore on 24 February.
During his visit, the Chancellor will call on Singapore Prime Minister Lee Hsien Loong, Deputy Prime Minister Tharman Shanmugaratnam and a range of senior government figures and business leaders. He will also visit the PSA port terminals.
Speaking in advance of the Chancellor’s visit, HE Antony Phillipson, British High Commissioner to Singapore said:
“The Chancellor’s visit underscores the deep and close relationship that Singapore and the United Kingdom enjoy. As financial hubs of our respective regions, indeed as leading global financial centres, this visit will help strengthen our already strong and cooperative financial and economic ties and help identify other areas of mutual benefit.
The Chancellor’s visit, coming on the back of the highly successful and historic Joint UK-Ireland Trade Mission just a week ago, once again demonstrates the high value the UK places on our relationship with Singapore.”
Key facts in the UK-Singapore trade relationship:
- UK remains the 3rd largest foreign direct investor in Singapore, after the US and the Netherlands
- over 1,000 British companies based in Singapore including GlaxoSmithKline, Rolls-Royce, Standard Chartered Bank, HSBC, Unilever and BG (oil & gas)
- four out of the five largest UK law firms have also set up offices in Singapore
- more than 400,000 Britons visit Singapore each year
In the other trade direction:
- UK is home to two-thirds of Singaporean investments into the European Union accounting for up to S$37 billion in investments at the end of 2011
- key Singapore investors include SembCorp, Keppel and ComfortDelgro