Singapore and Poland Forge Stronger Trade Ties

Leaders Commit to Expanding Economic Partnership

A state banquet in Singapore marked a significant step in bolstering relations between Singapore and Poland, with both nations signaling a commitment to increased trade and investment. The meeting highlighted a shared vision for deeper collaboration within their respective regions.

Strategic Relationship Takes Root

During the banquet, hosted in honor of Polish President **Duda**, Singaporean President **Tharman** emphasized the growing bilateral trade between the two countries. He noted the potential for further capitalizing on each nation’s position as a regional hub.

“There is a Polish saying that goes ‘grain by grain, the measure will be filled’,” said President **Tharman**.

—Tharman, President of Singapore

**Tharman** continued, “Step by step, we will build a meaningful relationship. And that epitomises the way we are going about our strategic relationship.”

Poland is actively seeking to expand its presence in Southeast Asia, as stated by **Duda**. He expressed his country’s desire to cultivate comprehensive relationships with nations in the region, with Singapore playing a crucial role.

“Singapore has long been a key partner for Poland in this region, and we will wish for our relations to rise to a new, much higher level.”

—Duda, President of Poland

Investment Opportunities Explored

Both leaders encouraged businesses from their respective countries to explore investment opportunities. Currently, approximately 170 Polish companies operate in Singapore, while Singaporean investment is notably present in Poland’s transport and logistics sectors.

Trade between Singapore and Poland has seen substantial growth since the implementation of the EU-Singapore Free Trade Agreement (EUSFTA) in 2019. Bilateral goods trade has increased by 50 percent, reaching nearly S$1.7 billion (US$1.3 billion) last year. According to the Singapore Department of Statistics, Singapore’s total trade in 2023 reached S$271.2 billion, demonstrating its continued importance as a global trade hub. Singapore Department of Statistics

Deepening Regional Engagement

President **Duda**’s visit underscores Poland’s commitment to a more prominent role in Southeast Asia. This increased engagement reflects a broader strategy to diversify Poland’s economic and political partnerships. The leaders’ discussions focused on identifying new areas for collaboration and strengthening existing ties.

The strengthened partnership is expected to yield further economic benefits for both nations, fostering innovation and creating new opportunities for businesses and citizens alike.