New Agreements Signed, Including Tech Exchange Programme for Young Professionals
Singapore and Indonesia have signed six new Memorandums of Understanding (MOUs) during the Singapore-Indonesia Leaders’ Retreat on 16 March, deepening collaboration in emerging sectors like energy, sustainability, and digital technology.
One notable initiative is the Tech:X Programme, which allows young tech professionals under 30 from both nations to work and gain experience in each other’s tech industries. The programme aims to foster closer integration of their digital economies and strengthen the tech ecosystems in both countries.
Tech:X Programme Details
Launched through a collaboration between Singapore’s Ministry of Trade and Industry (MTI) and Indonesia’s Coordinating Ministry of Economic Affairs, the programme is designed for professionals with bachelor’s degrees from listed universities, graduated within the past five years.
Prime Minister Lee Hsien Loong highlighted the significance of this cooperation, noting its role in advancing ASEAN’s digital economy, particularly under Indonesia’s chairmanship. Further details on the programme will be shared in due course.
Broader Bilateral Cooperation
The leaders also reviewed progress on three longstanding bilateral agreements under the Expanded Framework, which address airspace management, defence cooperation, and extradition of fugitives. Both countries recently submitted a joint application to the International Civil Aviation Organization (ICAO) for approval of new arrangements under the Flight Information Region (FIR) agreement.
Prime Minister Lee remarked, “The successful outcome reflects our strong bilateral relations and shows that Singapore and Indonesia can achieve mutual benefits through constructive engagement.”
Renewed and Extended Agreements
Other agreements signed or extended include:
Vocational Education Renewal: Between Singapore’s Ministry of Education and Indonesia’s Ministry of Industry.
Bilateral Financial Agreement Extension: Renewed for the fourth consecutive year between the central banks of both countries.
Additionally, nine business-to-business MOUs were inked, spanning sectors such as the digital economy and healthcare.
Economic Ties Strengthened
Singapore continues to be Indonesia’s top foreign investor, with total investments reaching S$17.5 billion (US$13 billion) in 2023. The agreements signed further solidify this economic partnership and pave the way for enhanced regional collaboration.
Ceremonial Welcome and Future Prospects
President Joko Widodo received a special ceremonial welcome, reflecting the retreat’s theme of “a meeting among old friends.” The leaders emphasised their commitment to deepening ties and exploring new areas of collaboration for mutual benefit.
