A delegation from Enterprise Singapore, the government agency in charge of promoting business development in the Asian country, visited the Basque Country this week and met with Basque Trade & Investment with the aim of exploring new business opportunities and strengthening economic collaboration between the two territories. During their stay, representatives of leading Basque companies such as Cikautxo, H2Site, Idom, Maier Group, Mondragon, Ormazabal, Tubacex and Vicinay met to discuss possible areas of cooperation in strategic sectors.
Singapore is a strategic partner for the Basque Country in its internationalisation strategy, particularly as a gateway to the countries that make up the Association of Southeast Asian Nations (ASEAN), as a technological and financial hub and as a transport node between Asia and Europe.
In this context, the two agencies have identified areas of great potential for cooperation, such as the renewable energy sector. Euskadi, with its extensive experience in offshore wind energy, is postulated as an allied territory to facilitate the energy transition of Singapore, which seeks to advance its sustainability goals in the ASEAN region.
A clear example of this collaboration is the recent participation of Enterprise Singapore in the WindEurope fair with Singaporean companies, which reinforces the Asian country’s growing interest in the Basque Country’s technological solutions in the energy sector.
In addition to energy, another of the sectors highlighted has been biosciences, in which both territories have worked together in recent years, opening up new opportunities, especially in the development of advanced technological solutions that could benefit both the Basque Country and Singapore.
In this regard, the Memorandum of Understanding (MoU) signed last year between Basque Trade & Investment (BasqueTrade), the agency for the internationalisation of Basque companies integrated in the SPRI Group, and Enterprise Singapore was a milestone in the consolidation of this relationship. This agreement establishes the framework for the exchange of services, knowledge and technologies in the aforementioned sectors, as well as for the attraction of investment and the exchange of talent between both regions.
The BasqueTrade office in Singapore works to facilitate the internationalisation of Basque companies in Southeast Asia, providing a comprehensive service to Basque companies in all the countries of the ASEAN area such as Indonesia, Philippines, Malaysia, Singapore, Thailand, Vietnam, Brunei Darussalam, Cambodia, Laos and Myanmar.
