EISMEA (European Innovation Council and SME Executive Agency)
2022
IMP³ROVE, European Clusters Alliance (ECA), InPulse Partners SRL, AgriFood Lithuania, Eurada, Intracto, LOW, VDI/VDE
Singapore has become the EU’s fifth largest trading partner. Thanks to the EU-Singapore Free Trade Agreement (EUSFTA), tariffs on EU exports and bureaucracy have been reduced and has facilitated investment. In particular, cluster-based projects could further strengthen relations between Singapore and the EU.
A cluster cooperation agreement between the EU and Singapore has been in place since December 2020, primarily intended to strengthen cooperation between industrial clusters in Singapore and the EU. This agreement is based on principles to promote a resilient and sustainable economy, especially following the recent shock caused by the COVID-19 pandemic. Given the shared prioritisation of digitalisation, the green economy and resilience between EU Member States and Singapore, it is important to build on networks that promote knowledge sharing and the linking of different industrial ecosystems.
The Singapore government has consistently initiated programmes and projects to enable sustainable economic growth. These include:
Singapore’s high GDP is based on a highly diversified economy, with the services sector standing out as the strongest of sectors (trade, business services, transport, communications, and financial services). Meanwhile, the agricultural sector has been subjected to lower levels of growth, which is due to be strengthened by substantial investments in high-tech agriculture. The port of Singapore is one of the most important trading hubs in the world.
The European Cluster Collaboration Platform (ECCP) is a European Union initiative. The aim of the platform is to strengthen the European economy, especially SMEs, through cooperation and to support the digital transition towards greater sustainability. As part of the consortium led by IMP3ROVE, Prognos is involved in the further development of the European Cluster Collaboration Platform, with the vision of making it the main contact point for cluster organisation in Europe. Hereby, Prognos is responsible for the area of “Data & Policy.”
In this context, cluster-based initiatives in Singapore, as well as trade relations and value chains between EU and Singapore were also examined. The analysis finally provides information on Singapore’s economic structure and cluster ecosystems, as well as initiatives that drive growth and innovation. With regard to key figures on export and import trade between Singapore and the EU Member States, the results of the study can demonstrate the prospect of future cooperation between the EU and Singapore.
To the input paper (clustercollaboration.eu)
More about our work on this project (in German)
Project team: Dr Jan-Phillip Kramer, Lennart Galdiga, Maximilian Welford
Last update: 16.09.2022
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