Singapore and Finland hope to boost economic and social ties
By Imelda Saad, Channel NewsAsia | Posted: 18 November 2009 1832 hrs

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SINGAPORE: Singapore Prime Minister Lee Hsien Loong hosted a lunch on Wednesday for his Finnish counterpart Matti Vanhanen.

Mr Vanhanen is in Singapore for a two-day official visit. He met both Mr Lee and President S R Nathan on Wednesday morning.

In a speech at the official lunch, Mr Lee said that Singapore and Finland hope to enhance the economic and social ties between them.

He noted how, despite the geographical distance, both Singapore and Finland share many similarities. For example, both are small states which rely on international diplomacy and a globalised economy for peace and prosperity.

There are currently over 600 Finns living and working in Singapore, and more Singaporeans are also heading to Finland for further studies.

Mr Lee said both sides can build on these links by promoting more cultural, arts and student exchanges. And in the area of research and development, both leaders said more can be done to promote joint projects.

There are close to 100 Finnish companies operating in Singapore. For example, Neste Oil is investing over a billion dollars to build the world's largest biodiesel plant in Singapore.

Mr Lee said: "Finnish businesses can use Singapore as a springboard to the region. Singapore is at the heart of Asia, which is a dynamic region of the world. We provide a conducive business environment for many global companies which (are) based here to service Asia.

"Finnish companies can also leverage on the knowledge and networks of our local firms to expand their reach into China, India, ASEAN and other Asian markets."

Mr Vanhanen said: "Finland strongly believes that working together will benefit us all. As an example, an important one, both Singapore and Finland have expertise in matters related to environment and clean technology which we can exploit for a wider benefit."

- CNA/sc