Singapore’s Foreign Minister emphasized the importance of establishing global rules amid ongoing geopolitical tensions, stressing that his country seeks to be evaluated on its own merits rather than becoming a battleground for superpower rivalries or proxy conflicts.
Speaking about the region’s economic performance, the minister highlighted robust growth figures for Southeast Asia in the first half of 2026. Vietnam recorded economic expansion of over 8%, Singapore grew 6.1%, while Malaysia and Indonesia each posted growth exceeding 5%. These gains underscore the resilience of regional economies despite global uncertainties.
Notably, in 2025, Taiwan surpassed China as Singapore’s largest trading partner, a shift largely driven by sectors such as artificial intelligence, semiconductors, and technology. The foreign minister likened the current period to a new “gilded age,” drawing parallels to the last industrial revolution, when transformative technologies like railroads sparked both opportunity and volatility. He acknowledged the potential short-term fluctuations but stressed the enduring positive impact of emerging technologies on societies and economies.
Looking ahead, the minister pointed to significant opportunities for wealth creation, contingent on international cooperation to formulate shared standards in rapidly developing fields like artificial intelligence, biotechnology, and the governance of global commons such as outer space. He specifically referenced the 2023 landmark UN treaty on the conservation and sustainable use of marine biodiversity beyond national jurisdiction, which Singaporean diplomat Rena Lee helped shepherd to adoption by consensus among UN member states. This treaty came into force on January 17, 2026, after ratification by over 80 countries.
The foreign minister argued that the global community must continue pursuing such multilateral agreements, which provide the necessary “good brakes” that allow innovation to proceed responsibly and sustainably. He described the current period as one marked by profound change and volatility, and expressed confidence that if countries can navigate these challenges effectively—beyond just Singapore, encompassing the Association of Southeast Asian Nations (ASEAN)—there is a strong narrative and substantial potential for the region’s future development.