By Daniel Hunter

The UK's Trade Minister Lord Livingston will today (Wednesday) lead calls for more trade between the UK and Singapore as Singaporean Head of State President Tan continues his UK State Visit.

Many global organisations are already opting to use the Singapore as a base for their regional headquarters with the World Bank’s Doing Business survey ranking Singapore as having the best business environment in the world.

On Friday 17 October, the European Union and Singapore concluded negotiations for a Free Trade Agreement — the first the EU has agreed with an Association of Southeast Asian Nations (ASEAN) country.

While the growing importance of Singapore is further highlighted by British Airways’ introduction of the Airbus A380 on its Singapore route next week — increasing weekly capacity by over 1,000 seats — and Lloyds Banking Group consolidating its Asian commercial banking activities in Singapore.

Lord Livingston will give the opening speech at the UK and Singapore Innovating Together for the 21st Century business event, taking place at the Royal Society in London.

Trade Minister Lord Livingston said:

“It is a pleasure to welcome President Tan.

“The UK and Singapore are both open economies, close trading partners and gateways for businesses to our respective regions. Singapore accounts for half of all UK exports to the South East Asian region and the UK attracts nearly three quarters of all Singaporean investment in the EU.

“I encourage UK companies to build on this relationship and look into the opportunities to do business with Singapore.”

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