President Lee Jae Myung (left) and Singaporean Prime Minister Lawrence Wong on March 2 hold a summit at the Ministry of Foreign Affairs in Singapore. (Cheong Wa Dae)
By Xu Aiying
President Lee Jae Myung has agreed to start negotiations with Singapore on improving their free trade agreement, which marks its 20th anniversary this year, and raising bilateral cooperation in sectors such as artificial intelligence (AI) and nuclear power.
On a state visit to the city-state, President Lee on March 2 announced this in a joint news release after his summit with Singaporean Prime Minister Lawrence Wong, saying, "Based on our 'strategic partnership' that was upgraded last year to mark the 50th anniversary of diplomatic relations, we agreed to further boost bilateral cooperation."
"We decided to strengthen economic ties that have driven the development of bilateral relations, accelerate innovation in future cutting-edge sectors such as AI, and reinforce the foundation for cooperation in national defense and security."
Both sides also adopted a joint declaration on starting talks to improve their free trade deal and signed five memorandums of understanding (MOUs) on cooperation in areas such as AI and small modular reactors (SMR).
They specified cooperation in key future growth drivers like AI and digital technology and agreed to secure momentum for AI cooperation by expanding joint research and investment in physical AI-based industrial innovation and real-world applications. Through the MOU on SMRs, the two sides agreed to collaborate on the joint development of business models for such reactors and human resource development.
The two leaders also discussed peace and stability on the Korean Peninsula and the situation in the Middle East.
President Lee said, "Singapore is a meaningful location where the historic North Korea-U.S. summit in 2018 was held. Eight years ago, Singapore demonstrated to the world its outstanding diplomatic prowess for achieving peace through leadership in dialogue and communication. I believe Singapore will continue playing a constructive role in peace on the Korean Peninsula and in the region."
The two leaders also agreed to assess the impact of the Mideastern situation on global security, energy supply chains and the world economy, expressing hope for the restoration of stability and peace in that region.
xuaiy@korea.kr