As Singapore is one of the leading countries in the financial sector, it makes it a big potential for financial deals for all countries around the world. Singapore is considered as one of the best in the region to handle large sums of money in and out through transactions and through partnerships. Which is why it was the first country in mind for the United Kingdom do consider for bigger financial deals.
According to recent news in the field, Singapore has signed almost 3 deals with UK which are all focused to aid increase the overall progress of the financial sector in their country. The first deal considered a memorandum of understanding (MOU) for better flow of data for bettering the green finance sector. The second agreement was on the Britain’s Green Finance Initiative to be implemented in Singapore too. The third deal was focused acquiring trainings and talents for the financial sector in Singapore from UK to help spread the talent.
This was commented on by Tharman Shanmugaratnam, which is the Senior Minister in Singapore by saying, “The initiatives we are working on – data flows and governance, cyber security, skills development, and green finance – will enable continued dynamism and stability in Singapore’s and London’s financial centres. The agreements also reflect the commitment of both nations to free markets and multilateralism – key traits that Mr Tharman cited in the summit’s opening address, noting that they are especially important in our future relationship and collaboration.”