PM Lee Hsien Loong at the official lunch hosted in honour of Finland PM Matti Vanhanen

On behalf of the people of Singapore, it gives me great pleasure to warmly welcome Your Excellency and members of your distinguished delegation to Singapore. Your Excellency’s visit, which comes after President Tarja Halonen’s visit last year, underscores the warm relations between our two countries.

Singapore and Finland are similar in many ways. First, we are both relatively small countries in our respective regions. We understand that small states can play useful roles in enhancing regional peace and international security. Hence both our countries are active in international diplomacy, to help lay a stable foundation upon which to build economic prosperity. 

Second, despite being buffeted by the recent global financial crisis, Finland and Singapore remain open economies which depend heavily on the globalised economy. At a time of rising protectionist sentiments worldwide, we must stand together to support free trade and open markets.

Third, we are both knowledge economies that thrive by providing our people with the best opportunities to realise their full potential. Both of us heavily emphasise education, research and innovation. Hence, despite the geographical distance separating us, Singapore and Finland have established a comfortable rapport over the years. When we meet, we often enjoy a meeting of minds.

This is why there has been a steady stream of study visits from Singapore government agencies to Finland. We go to learn about your social and education policies, urban planning and transport systems. Even though our societies are different, we share a common belief that intelligent public policy design and implementation can make a positive difference to the lives of our citizens.

There is scope to enhance our bilateral relations in the economic and social spheres. Singapore welcomes further cooperation with Finland to grow our economies. Today, there are close to 100 Finnish companies operating in Singapore. Neste Oil is investing over a billion dollars to build the world’s largest biodiesel plant in Singapore. We hope this will pave the way for more collaboration projects between our two countries. We should also increase our collaboration in research and development. More exchanges between our research institutes and corporations, to share knowledge and expertise, would help sharpen our competitive edge.

Finnish businesses can use Singapore as a springboard to the region. Singapore is at the heart of Asia, which is a dynamic region of the world. We provide a conducive business environment for many global companies which base here to service Asia. Finnish companies can also leverage on the knowledge and networks of our local firms to expand their reach into China India, ASEAN and other Asian markets.

We can also increase our people-to-people ties. There is a community of over 600 Finns living and working in Singapore, and more Singaporeans are making their way to Finland to further their studies. We can build on these links by promoting more arts, cultural and student exchanges.

Both our countries can benefit from deepening our bilateral ties. I am confident that Prime Minister Vanhanen’s visit will stimulate more areas of fruitful cooperation.

Ladies and gentlemen

I would like to invite you to join me in a toast - to the continued good health and success of His Excellency Prime Minister Matti Vanhanen; to peace and prosperity for the people of the Republic of Finland; and to closer relations between the Republic of Finland and Singapore.