SINGAPORE – Japan and Singapore have reaffirmed their commitment to further enhance economic cooperation in key areas such as digitalisation, green transition and healthcare.
In a ceremony held at Four Seasons Hotel in Singapore on July 2, Enterprise Singapore (EnterpriseSG) and the Japan External Trade Organisation (JETRO) renewed their memorandum of cooperation (MOC) for another three years.
Under the partnership agreement, the government-backed agencies will sharpen the focus in existing areas of collaboration to reflect both countries’ shared ambitions. These include artificial intelligence, semiconductors and quantum computing, as well as clean energy solutions such as offshore wind and hydrogen.
A new priority area – life sciences and healthcare – has been added, covering fields such as digital health, precision medicine and biotech. These are areas where the two countries’ complementary strengths and shared interests create strong potential for collaboration.
Both agencies will broaden their support beyond start-ups to include high-growth small and medium-sized enterprises as well as larger corporates with strong technology and innovation capabilities. This will enable more enterprises with cross-border ambitions to accelerate their growth and benefit from the partnership.
The agreement was signed as JETRO marks 70 years in Singapore, having been established in 1956 as the Japan Trade Centre. Both Singapore and Japan also celebrate the 60th anniversary of the establishment of diplomatic relations.
It also follows the agreement signed in March 2026 by Prime Minister Lawrence Wong and Japanese Prime Minister Sanae Takaichi that upgraded ties between the two countries to a strategic partnership.
Gan Siow Huang, Minister of State for Foreign Affairs and Trade and Industry, said the pact between EnterpriseSG and JETRO is a concrete example of how the two countries intend to translate the strategic partnership into practical economic cooperation.
“When I consider the Singapore-Japan relationship, what stands out is not just its longevity, but also its depth,” she said.
Japan is one of the Republic’s most significant economic partners, consistently ranking among its top 10 trade and investment partners. In 2025, bilateral merchandise trade surpassed $56 billion. Japan is also Singapore’s third-largest source of foreign direct investment.
Gan said: “Beyond the aggregate figures, the strength of our ties is perhaps best seen in the strong presence of Japanese companies here in Singapore.”
There are more than 5,300 Japanese companies here, with many choosing Singapore as their base for regional and global operations – establishing supply-chain hubs, innovation centres and global trading headquarters.
Gan said the MOC between the two agencies provides a platform to turn shared ambitions into business outcomes – not only in Singapore and Japan, but also in third markets across South-east Asia and the wider region.
(From left) Minister of State for Foreign Affairs and Trade and Industry Gan Siow Huang, Enterprise Singapore chairman Lee Chuan Teck, Japan External Trade Organisation president Susumu Kataoka and Japan’s Ambassador to Singapore Hiroshi Ishikawa at the signing of the memorandum of cooperation on July 2.
PHOTO: JETRO
“By combining Japan’s technological and industrial strengths with Singapore’s connectivity, trusted networks and understanding of the region, our businesses can unlock new opportunities and contribute to sustainable and resilient growth,” she added.
EnterpriseSG chairman Lee Chuan Teck said: “The renewal of our MOC today underscores both the strength of our ties and our shared ambition to foster stronger collaborations between our companies and the wider ecosystem, to address the new challenges in an increasingly complex global environment.”
He said the collaboration between EnterpriseSG and JETRO – that started in 2022 – has begun to bear fruit in the start-up space.
For example, he named Thermolytic, a Japanese start-up developing innovative thermal insulation materials which has set up a Singapore subsidiary to expand across the ASEAN region.
He also mentioned Aevice Health, a Singapore medtech company specialising in AI-powered respiratory monitoring. It has partnered with Japanese firm A&D, securing investment and a channel partnership to fuel their expansion into Japan and beyond.
JETRO president Susumu Kataoka said: “As JETRO marks 70 years in Singapore, this renewed MOC reflects our longstanding partnership and our shared ambition for the future.”
He added: “Building on the strong foundation between Japan and Singapore, JETRO will continue to support the global expansion of innovative businesses, deepen cross-border collaboration, and contribute to strengthening resilient and connected economic ecosystems across ASEAN and beyond.”
