Portugal´s Minister of Foreign Affairs João Gomes Cravinho and his Singaporean counterpart, Vivian Balakrishnan, have launched the Portugal-Singapore Alliance for Innovation.
The alliance was launched at the end of a week-long visit by Balakrishnan to Lisbon, where he participated in the annual meeting of Portuguese diplomats.
“The launch of the Singapore-Portugal Innovation Alliance represents a significant step in deepening our commercial relations”, Cravinho said.
“This initiative reflects the mutual interest in expanding business opportunities and economic potential between the two countries. It is also for this reason that we will expand the AICEP network to this territory, with the opening of a delegation in Singapore with a view to increasing investments in Portugal”, the Portuguese minister added.
The Asian city-state, despite having just over five million inhabitants, has a thriving economy, with a GDP higher than that of Portugal.