By King’s Office Correspondents
SINGAPORE – The President of the Republic of Singapore, Tharman Shanmugaratnam, has invited the Eswatini business sector to attend the next Africa Singapore Business Forum (ASBF).
The Africa Singapore Business Forum (ASBF) is the premier platform for business exchange and fostering trade between Africa and Asia. Since it was launched in 2010, it has brought together over 5,000 business and government leaders from 30 countries to explore partnerships and growth opportunities between these two dynamic regions.
His Majesty King Mswati III met with the President of the Republic of Singapore at his residence yesterday. The two heads of state are in talks to strengthen the existing relations between the two nations.
This invitation was extended to His Majesty the King when the two leaders held bilateral talks at the Istana Presidency yesterday. The king was joined by the Minster of Foreign Affairs and International Relations, Pholile Shakantu, the Principal Secretary in the ministry, Newman Ntshangase, the King’s Private Secretary, Mbongeni Simelane, and the Deputy Chief of Protocol, Baya Dlamini.
The Singapore President looks on as His Majesty signs the Visitor’s Book reserved for heads of state upon arrival at the Presidency.
The president also said Singapore was ready to assist Eswatini in areas of human development training programmes. He highlighted that they are able to tailor-make these programmes to suit the needs of individual countries.
He also disclosed that Singapore is currently in negotiations with the Southern African Customs Union (SACU) with the hope of establishing trade agreements.
President Tharman Shanmugaratnam converses with His Majesty during the meeting.
His Majesty the King extended appreciation for the invitation to the local business community and promised that its structures would facilitate the country’s attendance at the forum in order to gain from this experience.
The King said Eswatini was ready to receive investors to tap into a wide range of investment opportunities, such as in energy, which is critical for development.
He stated that Eswatini and the region urgently require investment in this area, with the intention of selling such energy to the SADC power pool for regional and global use. On the issue of the desired trade agreements with SACU, His Majesty said he would engage his SACU counterparts on the matter with the hope of a mutually beneficial outcome. He added that the African continent is now looking beyond regional blocs following the launch of the African Continental Free Trade Area (AfCFTA) and has no doubt that Africa would be happy to trade with Singapore.
The two leaders share a light moment ahead of their meeting.
His Majesty praised the president for Singapore’s impressive development into a first-world country despite having no mineral resources. He also applauded their advancement in education, technology, finance, infrastructure and the water recycling system that provides clean water for the citizens, saying this was an expertise that could assist many African countries.
The king shared that he had the opportunity to visit one of the private schools in the country, United World College (UWC), which he found very impressive.
His Majesty shared that his visit to Singapore was preceded by participation at the Korea-Africa Summit, where valuable economic development experiences were shared, adding that he hopes Singapore could share similar experiences with Africa.
Meanwhile, according to the official government profile, President Shanmugaratnam served in politics for 22 years before resigning to contest the presidential election. He has held positions as Education Minister, Finance Minister, Senior Minister and Deputy Prime Minister. He also served as Chairman of the Monetary Authority of Singapore (MAS), Singapore’s central bank and financial regulator, over the 12 years to 2023.
He currently chairs the board of the Group of Thirty, an independent global council of economic and financial leaders from the public and private sectors. He also co-chairs the Global Commission on the Economics of Water. He also serves on the World Economic Forum’s (WEF) Board of Trustees, which advises the WEF on its strategic directions.
This was the final engagement of His Majesty, who is accompanied by Inkhosikati Langangaza and is expected home today (Thursday).
