Singapore and Canada to boost science, technology ties and SME connections

Following the enhancement of its ties with the United States, Singapore is preparing to strengthen its relations with Canada.

Singapore and Canada will expand cooperation in science and technology, as well as strengthen support for projects between Canadian and Singaporean small and medium-sized enterprises (SMEs).

Bilateral cooperation will cover areas such as artificial intelligence (AI), biotechnology and digital and environmental technologies.

In addition, countries are working to build connections between their research organizations and are exploring joint research, talent exchanges and other forms of partnerships.

The full agreement, announced on Thursday (May 2), aims to:

• Promote connections between Singapore and Canadian companies, with a particular focus on SMEs. This will encourage joint research and development projects, accelerating innovation.
• Support for research and development with the exchange of knowledge and experience. This will lead to faster breakthroughs and the development of advanced technologies.
• Expand market access. Singapore’s reputation as a global business hub, coupled with Canada’s access to the North American market, creates a launching pad for SMEs to expand internationally.

Both countries are looking to go beyond collaboration on platforms such as the Eureka Network and raise awareness of business opportunities among their companies, as well as do more to promote joint innovation.

Discussions also covered green economy plans, in particular areas such as green and low-carbon technologies, carbon pricing and markets, trade and green economy initiatives, as well as green and transition financing.

Collaboration plans also include supporting research focused on international launches, as well as projects between Canadian and Singaporean SMEs, as SMEs tend to be the most innovative companies.