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Kingdom of SPAIN

Spain Looking at Singapore
As Investment Hub for R&D

Text and photographs by the Embassy of Spain in Singapore
Text and photographs by the Embassy of the Kingdom of Spain in Singapore

(Above): Spain’s National Day celebrations in Singapore in October 2018. Spain has one of the largest business communitieshere. (Inset): The then-designated
WSpanish Ambassador to Singapore HE Santiago Miralles Huete first day in office on 28 Dec 2018
ith 50 years of diplomatic ties between them to celebrate activity in the coming days in Singapore, will be greatly instrumental in
Spain and the Republic of Singapore have weathered the consolidation of the bilateral relations between the two countries.
many changes that both nations have witnessed on the Bilateral relations do not rely purely on trade and investment. Over
home front as well as in the global context since 1968 2000 Spaniards call Singapore their home and over 60.000 Spanish
when they first set up bilateral relations. It is the very strength of those tourists visit it every year. In turn a good number of Singaporeans,
ties which has helped forge a better understanding of the push and pull around 70000, visit Spain thanks to the direct flight to Barcelona.
of diplomatic engagement to work towards a greater, more mutually
beneficial relationship in the years to come.
Spain famous for
Looking back over the years it’s heartening to see how this dynamic
relationship has evolved since 1968. Just three years earlier Singapore
had gained independence and it was in the throes of that great Wine, Olives, Saffron and...
change that founding father Lee Juan Yew noted in his memoirs:
“Some countries are born independent. Some achieve independence. ALTHOUGH Spanish food and beverages are today less than 10% of the
Singapore had independence thrust upon it.” Spain in 1968 was still a total exports from Spain to Singapore, Spanish gastronomy based on a range
dictatorship and the economic situation forced many citizens to migrate of prime quality products such as meat, fish, shelfish, vegetables, legumes,
in search of better opportunities. virgin olive oil, preserves, species, cheese, wine and fruits, has been joyfully
embraced in Singapore.
Fifty year on both nations can be proud of what they have achieved
in the interim period. The great momentum of the success and high
growth of Singapore stems from those early days of hardship of putting Acorn-fed Ibérico ham, sourced from the last of the grazing species
together a new nation. Today’s Spain too is so radically different from of “Ibérico pig” in Europe has already conquered the taste buds of
those times. The country has since enjoyed the benefits of a fully- Singaporeans trying it for the first time. It is eaten in wafer-thin slices to
fledged free democracy with the rule of law, separation of powers, appreciate the fragrant, delicate flesh, flecked with fat from the pigs’ diet
decentralization and the respect of human rights enshrined in the of acorns. Olive oil is another flagship Spanish product freely available in
constitution, a keystone of its political freedom of which this year Singapore. Extra virgin olive oil has also been a huge success here.

precisely Spain celebrates its 40th anniversary. Spain is the world’s largest producer of two top-class products such as

Economic ties between Spain and Singapore too have evolved saffron and pimentón, or Spanish paprika. Both saffron and pimentón have
exponentially. In 2017 bilateral trade in goods and services exceeded found much favour in Singapore.
the benchmark of US$2 billion. Provisional figures for 2018 show
an increase of 25%. Bilateral economic relations between the two The Singapore consumer is also quite familiar with Spanish sweets and
nations go beyond the ambit of trade. Bidirectional investment has
grown steadily over the last five years. Spain is looking to investing desserts, jams, turrón (Spanish nougat), and honey made according to
in Singapore as a hub for research and development as well as Spanish Arab, Jewish and Christian culinary traditions. And who can forget
technological cooperation and entrepreneurial collaboration. On the the recent arrival in Singapore of real crispy
other hand, enjoying the strongest rates of economic growth among churros, best accompanied by a tasty Spanish hot
the largest countries in Europe Spain is a very reliable country for dark chocolate.

Singaporean companies to invest in. Spanish gastronomy and Mediterranean cuisine,

At the heart of this increasingly strong relationship is the business to be found at the referral supermarkets, gourmet
shops and specialized stores, aa also a number
community of Spain; over 150 Spanish firms are established in
Singapore and more than 2500 Spanish and Singaporean firms are of high quality Spanish restaurants in Singapore
engaged in the business of imports and exports each year. The setting (many of them awarded with Michelin Stars), is
up of the Spanish Chamber of Commerce, which will start its official fast gaining popularity here.

www.indiplomacy.com IN Diplomacy Annual 2018 39