CPTPP partner: Singapore

• Singapore is Canada’s largest source of foreign direct investment (FDI) among South-East Asian countries. Singapore is also Canada’s largest destination for FDI in South-East Asia.
• Canada and Singapore share science, technology and innovation interests, including improving access to venture capital, fostering public-private-academic collaboration, and supporting small and medium-sized enterprises.
• Singapore is the world's third largest financial centre after London and New York.
• The small island nation is a leader in research and development spending and is a model for innovation.

Canada-Singapore trade snapshot

Top Canadian Exports to Singapore (2015-2017 average, $CAD)

Key facts and figures

Canada-Singapore trade

• Canadian merchandise exports: $1.4 billion (2015-2017 average)
• Canadian merchandise imports: $937 million (2015-2017 average)
• Canadian services exports (2016): $749 million
• Canadian services imports (2016): $1.87 billion

Canada’s top merchandise imports from Singapore (2015-17 average)

• Electrical and electronic machinery and equipment: $296 million
• Medical goods and pharmaceuticals: $207 million
• Chemicals and plastics: $163 million
• Industrial machinery: $89 million
• Miscellaneous industrial products: $46 million

Canada’s imports of services from Singapore (2016)

• Transportation and government services: $1.5 billion
• Commercial services: $272 million
• Travel: $72 million

Canada’s top merchandise exports to Singapore (2015-2017 average)

• Aerospace: $421 million
• Industrial machinery: $198 million
• Electrical and electronic machinery and equipment: $165 million
• Metals and minerals: $155 million
• Agricultural products (fats and oils, soybeans): $109 million

Canada’s exports of services to Singapore (2016)

• Commercial services: $324 million
• Transportation and government services: $254 million
• Travel: $171 million

How the CPTPP helps Canada-Singapore trade and investment

• The CPTPP complements existing duty-free access to Singapore, eliminating tariffs for key Canadian exports, such as beer (tariffs of Singapore dollar S$16/litre were eliminated upon entry into force).
• In addition, Canadian exporters of fish and seafood, forest and value-added wood products, and industrial products continue to enjoy duty-free access to Singapore.
• The CPTPP allows Canadian companies to invest with greater confidence in Singapore, offering them protections from unfair and discriminatory treatment, as well as greater predictability and transparency.
• Through the CPTPP, service providers also benefit from improved access commitments in key sectors, such as:
• professional services (e.g. engineering and architectural services) and
• energy distribution services, including pipeline transport of fuels.
• New commitments on the temporary entry of business people make it easier for certain categories of Canadian business people to temporarily work in Singapore, including business visitors and investors.
• The CPTPP also provides robust and enforceable provisions on labour and environment.

Sectoral opportunities in Singapore

• Agriculture and processed food:
• With very little agricultural land and limited domestic food production, Singapore imports more than 90% of the food it needs to feed its residents. 
• Opportunities exist for Canadian exporters of meat, fish and seafood, soybeans and pulses, and processed food, as well as indoor and vertical farming.
• Clean technology:
• Singapore identified clean technology as a key growth cluster and has attractive taxation schemes and additional incentives to support clean technology and other “urban strategies.”
• It is a clean energy and water hub for the Association of Southeast Asian Nations (ASEAN) and, increasingly, the Asia-Pacific region.
• Opportunities exist in the areas of water and wastewater, clean and renewable energy, fuel cells, green buildings, biomass, and waste-to-energy.
• Education:
• Singapore has a world-class education system that provides opportunities for research and development collaboration, educational partnership and student recruitment.
• Information and communications technology (ICT):
• Singapore remains an important market for ICT companies looking to expand into the Asia-Pacific region.
• It is an important telecommunications hub and ranks as the most network-ready country in Asia, having some of the world's most advanced ICT infrastructure.
• Companies are drawn to Singapore because of its robust intellectual property regime, good logistics connectivity and easy access to global talent.
• Aerospace:
• Singapore is a global aviation hub and a regional leader in maintenance, repair and overhaul, and research and development.
• Singapore’s Changi Airport is in the midst of a major expansion that will allow it to double its capacity by 2030, and has launched a $50-million program to turn the airport into a “living lab.”
• Opportunities include the supply of parts and components, avionics expertise, education and training services, and airport-related equipment and technologies.
• Financial services:
• Singapore is home to over 1,200 financial institutions, including most major Canadian banks and some Canadian insurance companies and pension funds.
• The city-state is recognized as a premier wealth management hub and is positioning itself as a financial technology hub.
• Opportunities exist for Canadian companies interested in raising funds or showcasing their technologies and solutions.