President’s Hall, Malacañan Palace
August 15, 2024
President Ferdinand R. Marcos Jr. and President Tharman Shanmugaratnam of Singapore conducted a joint press conference at the President’s Hall in Malacañan Palace.
“Our bilateral relations have come a long way and have undergone immense transformation since they were established over five decades ago. Our meeting today was an opportunity to reaffirm and [renew] our bonds of friendship and see how we can build upon them further,” President Marcos Jr. delivered.
He highlighted the strong, multi-faceted relationship between the two nations, underscoring Singapore’s role as a key trade and investment partner.
The press conference showcased the exchange of two (2) Memoranda of Understanding (MOUs). The first MOU focuses on collaboration on carbon credits under Article 6 of the Paris Agreement which aims to incentivize the reduction of carbon footprints and boost fiscal space through mobilized financial resources.
The second MOU addresses the recruitment of Filipino healthcare workers, ensuring a balance between meeting healthcare needs and protecting the rights of overseas Filipino workers (OFWs).
President Marcos Jr. also announced forthcoming MOUs involving Philippine local government units and Singaporean private sector partners, as well as agreements between national government agencies and business entities from both countries.
President Shanmugaratnam, on his part, praised the hospitality of the Philippines and highlighted the mutual benefits of the new agreements.
“We reaffirmed the warm and long-standing relationship between Singapore and the Philippines. It’s a relationship that brings mutual benefits. We are natural partners and what [we] are doing together brings benefits for both of us, for today as well as for tomorrow,” the President said.
He also emphasized the importance of economic sustainability, digital transformation and biodiversity conservation.
Singapore, President Shanmugaratnam noted, is keen to exploring further opportunities for collaboration, including carbon credits, cross-border electricity trade and other sectors where both countries can learn from each other.
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