TOKYO: Singapore Deputy Prime Minister Heng Swee Keat is on a three-day trip to Tokyo from Wednesday (May 29) to May 31, where he will attend Nikkei’s 25th International Conference on the Future of Asia and meet with Japanese Prime Minister Shinzo Abe.
This will be Mr Heng’s first official visit to Japan since he was promoted to Deputy Prime Minister on May 1.
AdvertisementAdvertisementDuring his trip, Mr Heng will deliver a speech and participate in the dialogue at the two-day conference, which starts on Thursday.
He will also meet Mr Abe, Finance Minister Taro Aso and Foreign Minister Taro Kono, as well as key business leaders and other conference attendees.
Mr Heng will be accompanied by officials from Singapore's finance and foreign affairs ministries.
Mr Heng made his first overseas trip as Deputy Prime Minister to Switzerland from May 6 to May 10 and concluded an eight-day visit to China and Hong Kong on Wednesday.
AdvertisementAdvertisement[h=3]READ: Singapore and Guangdong discuss new areas of cooperation in culture, education[/h]The Nikkei Future of Asia conference will see political and economic leaders from Asia-Pacific come together to discuss regional issues, as well as the role of Asia in the world.
The conference in its 25th year and has been held annually since 1995.
This is not the first time DPM Heng will be attending the conference; he was there last year with then Deputy Prime Minister Teo Chee Hean.
The theme of this year’s conference will focus on how Asian countries and companies should react in the face of global uncertainties such as US-China trade tensions and the rise of protectionism.
These are issues Mr Heng spoke about as well during his recent trips.
In Shenzhen, Mr Heng said Singapore is prepared for the negative consequences that may arise from a protracted trade war between China and the US.
Besides having monetary and fiscal policy to counter any cyclical downturns, he stressed that Singapore however, needs to ensure that its economic transformation takes place at an even faster pace.
And in Shanghai, Mr Heng said Singapore hopes China and the US can develop a relationship based on “coopetition”, that is, to cooperate in mutually beneficial areas while competing.
He also mentioned that countries must strengthen international cooperation in areas of common concern to achieve win-win outcomes, as no one country has all the resources and expertise it needs.
Amid the wave of technological changes that are making some jobs obsolete, Mr Heng highlighted in Switzerland that political leaders must protect workers, not jobs.
This can be done by putting people at the centre of what they do, because the goal is not to pursue economic growth or innovation for the sake of it, but rather, to improve the lives of the people and workers.
All in, Mr Heng also stressed the importance of maintaining a rules-based multilateral trading system, through trade agreements such as the Trans-Pacific Partnership and the Regional Comprehensive Economic Partnership.
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