TRADE BETWEEN SINGAPORE AND INDONESIA (Request for statement)

Mr Lim Soo Peng asked the Minister for Finance in view of the widespread interest aroused by the exchange of trade delegations between Singapore and Indonesia, whether he will make a statement on (a) the latest position in regard to such trade and, (b) the snags, if any, in implementing the trading arrangements agreed upon by the two countries.

Dr Goh Keng Swee: The answer to the first part of the question is that, as a result both of the exchange of trade delegations between Indonesia and Singapore and the progress made in normalisation of our relations which has recently resulted in the raising of the respective Missions to Embassy level, trade between Singapore and Indonesia is steadily increasing to our mutual advantage.

The answer to the second part of the question is that, from the point of view of Singapore, we do not see any snags and indeed we are implementing whatever arrangements have been agreed to by us. Differences of opinion such as those relating to shipping agreements are being discussed continuously by both sides, both at the commercial and governmental level. In the nature of things, trade relationship is essentially dynamic and we hope to be able to discuss and solve problems as they crop up so as to ensure maximum mutual benefit from such relations.