Indonesian Trade Deputy Minister Jerry Sambuaga opened the Indonesia Singapore Business Forum 2024, hosted in conjunction with the Trade Expo Indonesia 2024, attracting strong support from business leaders

On October 9th, 2024, the Indonesia Singapore Business Forum 2024 was officially launched by Indonesian Deputy Minister of Trade, Mr. Jerry Sambuaga. The event, held in Singapore, was organised by the Indonesian Embassy in Singapore, in collaboration with the Singapore Manufacturing Federation (SMF) and Bridgify Asia. The forum took place amidst the ongoing Trade Expo Indonesia 2024, further strengthening the bilateral trade relations between Indonesia and Singapore.

Mr. Bara Hasibuan, Special Advisor to the Indonesian Minister of Trade, served as the keynote speaker, providing valuable insights on the evolving trade landscape. The forum attracted approximately 170 participants, including entrepreneurs, bankers, and professionals from the creative economy sector.

CEO of the Singapore Manufacturing Federation, Mr. Dennis Mak, praised the forum for its overwhelming response and the opportunity it presented for businesses to explore new collaborations. He noted that the event had garnered significant attention from industry leaders eager to discuss future opportunities.

The panel session featured experts from both countries, including Christie Lumban Gaol, Vice President of Corporate Banking at Bank Mandiri; Jarius Draslaric, Chairman of the Lifestyle Industry Group at SMF; Shoeb Kagda, Chairman of SingCham Indonesia; and Kimming Yap, Managing Director of Creativeans. Their discussions focused on enhancing economic ties and shared opportunities between Indonesia and Singapore.

On the same day, Indonesian Ambassador to Singapore, H.E Suryo Pratomo, attended the official opening of the Trade Expo Indonesia 2024, which was inaugurated by President Joko Widodo. Ambassador Pratomo also engaged in an interview with Shopeetv, discussing the potential for small and medium-sized enterprises to penetrate the Singaporean market.

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The Astana International Forum will be held on 8th to 9th June this year. Various heads of state, government officials, and representatives from International organisations will attend this forum to seek actionable solutions to global concerns

For decades, Kazakhstan has served as a cultural crossroads, encouraging mutual respect and worldwide cooperation. According to this Central Asian country this is the reason why its multi-vector foreign strategy has been successful for a long time.

Kazakhstan launched the Astana International Forum to discuss global issues and the Forum has become a new tool for creating a culture of multiculturalism on a global platform, and elevating concerns that are often disempowered. It is Kazakhstan’s commitment to being part of the global stage by supporting diplomacy, trade, multiculturalism, and idea exchange. The country is also committed to strengthening international law and engage in constructive dialogue with countries all across the world. The forum will discuss global issues such as security, economic development, and climate change.

First Issue: Geopolitic, Security & Sustainability
Tensions between major world powers, nuclear disarmament, the refugee crisis, the rise of nationalism and populist movements, and other factors all pose a threat to world peace and stability. This is why it is critical to gather at the Forum to help guide toward the right way to protect the future of the nation.

Second issue: Climate Change
This important issue requires cooperation between countries. Rising sea levels, extreme weather events, and biodiversity loss are all having a devastating impact on the planet. The world’s reliance on fossil fuels makes reducing greenhouse gas emissions and addressing climate change increasingly difficult. The oil and gas industry plays a critical role in ensuring energy security and the energy transition.

Third issue: Finance & Economics
Focusing on the importance of a collaborative solution to economic, environmental, and security concerns. The COVID-19 pandemic has caused a severe global economic crisis, with many countries, businesses, and individuals struggling to survive.

Although these challenges may seem intense, the participating countries at the Forum can also find new opportunities for global cooperation and progress. The organisers hope the international community can address these issues at the Astana International Forum by working together to make the world a more stable, equitable, and prosperous place.

For further information, visit

Prime Minister Lee Hsien Loong will lead the Singapore delegation for the 13^th Asia-Europe Meeting (ASEM) Summit from 25 to 26 November 2021, held via videoconference streamed from Phnom Penh, Cambodia.

ASEM marks its 25^th anniversary this year. In line with the theme of “Strengthening Multilateralism for Shared Growth”, ASEM leaders will exchange views on current and emerging international and regional issues, and discuss strengthening ASEM’s role in promoting multilateralism and facilitating a resilient recovery from the COVID-19 pandemic. 

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Shery Ahn (Bloomberg TV): Let us discuss a complicated relationship between China and the US, and Singapore’s role in it. We are joined by Vivian Balakrishnan, Singapore’s Minister for Foreign Affairs. Minister, it is great to have you with us. Thank you so much for having us in Singapore.

Minister Vivian Balakrishnan: Great to be with you.

Ahn: So let us talk a little bit about the comments that your Prime Minister (Lee Hsien Loong) has made. How are you on the ground, at the Ministry (of Foreign Affairs), preparing for any contingencies?

Minister: The first point I would make is that the probability of an actual conflict is low. Second point, it is a deep red line – certainly something which everyone needs to be concerned with. The third point is that the real risk is either an accident or a miscalculation, and the more there is engagement, there is talk, there is discussion, and there is hopefully a meeting of minds, I think that lowers the risk considerably. So that is really where we are at this point.       

Ahn: Are you trying to facilitate some of those talks?

Minister: No, it is not for us to facilitate. This is something which China and Taiwan needs to sort out amongst themselves first. 

Ahn: But Singapore is such a good partner to both of them.

Minister: We are long, old, and good friends to both sides across the strait. We really do hope for the best between them, that they can lower the temperature, lower the tensions, lower the risk of miscalculation. That is the only way you are going to get peace in a sustained manner across the strait.

Ahn: How much has the virtual summit between President Biden and (President) Xi helped?    

Minister: I think that was absolutely essential. This is a stage in which both countries’ decision making is localised at the very apex. The more the two leaders talk candidly, sincerely, frankly, the better. It lowers the chance of a miscommunication.

Ahn: Singapore is supporting China’s application to the CPTPP (Comprehensive and Progressive Agreement for Trans-Pacific Partnership) regional trade agreement. Where do you think that will go?      

Minister: Take a step back. The spirit behind the TPP (Trans-Pacific Partnership) or the CPTPP is for it to be open (and) inclusive to any economy that meets its very high standards. It is the most ambitious multilateral free trade agreement in the world right now. On that basis, we will have to welcome anyone who meets and aspires, and is able and willing to fulfil its high standards.

Ahn: Is China able to fulfil (the high standards)?

Minister: That is something which will need to be discussed in greater detail. The second point is the process. It requires consensus by all the existing members. So this discussion, this dialogue, and this resolution, even on bilateral issues, if any, amongst all the individual members will need to be sorted out.

Ahn: Are you facilitating those discussions? 

Minister: Next year, as the Chair of the Commission, we will certainly have to facilitate these discussions. You need to understand that Singapore is unique because for us, trade is more than three times our GDP. So this is not just ideology or a negotiating point. For us, free trade is our lifeblood. Anything that promotes that cause is something which we would support, we would welcome.

Ahn: Taiwan applied to the CPTPP as well, just days after Beijing did.

Minister: Yes, not surprising.

Ahn: What is the dynamic there and how do you expect that to play out?

Minister: Again, the same principles apply. Are you willing, are you able to meet these high standards? 

Ahn: Are you backing Taiwan as well? 

Minister: We would welcome their application in the same way we would welcome any economy that is willing and able to meet those high standards. Now, having said that, there are obviously political complications in that respect. Like many of the issues across the strait, you do need resolution, you do need a meeting of minds across the strait between Beijing and Taiwan.         

Ahn: What about a meeting of minds when it comes to Myanmar, because of course the US has talked about Singapore having financial leverage on that point in order to help Myanmar achieve democracy. What can you do?

Minister: The first point I would make is that what is happening in Myanmar is a tragedy – a real tragedy not just of progress towards democracy, but its impact on ordinary people. The increase in poverty, the pandemic – it is really a terrible shame that this has happened. (The) second point is not to overestimate the impact of external interference. It will not work. From our years of working and engaging the people in Myanmar, we know this is a proud nation that needs to resolve its internal problems internally, without others trying to interfere. Specifically, on Singapore, I think we should not overstate our influence or our ability to affect the cause of events in Myanmar. But the people in Myanmar and both sides across the entire political spectrum in Myanmar know our position. We want peace, we want negotiations, (and) reconciliation. That is the only way you can get the peace and prosperity.

Ahn: What is Singapore doing in order to help achieve that?

Minister: First, we are all in ASEAN. We have stated our position clearly. You saw the recent (38^thand 39^th) ASEAN Summits – the representation or rather the non-representation of Myanmar. But the first point is that Myanmar remains an integral member of ASEAN. We are not ejecting them. Second, we state our position clearly, categorically. No question about that. Third, we are delivering humanitarian assistance because our main concern is the people of Myanmar, the economic, the humanitarian plight and the suffering which they are undergoing.

Ahn: Parliament just passed a foreign interference act. What are the biggest threats for Singapore right now?

Minister: We live in a world in which hostile information campaigns, (and) influence peddling now has got so many additional tools to turbo charge. So to pretend that it is business as usual, and that there are no current or future threats is not tenable. It is not aimed at any country. But we are preparing defences so that we can ensure that there will be no hostile, surreptitious campaigns launched by external parties or through proxies who clearly are advancing the agenda of external parties. 

Ahn: It is not uncommon for local Chinese language media toeing the line for Beijing. Have you seen any indication of that?

Minister: No, I would not characterise it that way. We are unique. We are the only political entity outside China with a majority of Chinese ancestry, who understand the Chinese language, who respond to cultural cues. That is both a blessing and a burden. But the key point is this – Singapore is not China. We are in the heart of Southeast Asia. But we understand China. We certainly have a role sometimes for communication, for explanation, and even being a convening point for dialogue. That is our unique selling point, our value proposition.  

Ahn: Minister, it is really great to be here with you face to face and thank you so much for having us in Singapore. 

Minister: Thank you for being in Singapore. 

Ahn: Vaccination rates here in Singapore are very high, but the restrictions also have been pretty stringent. What are you expecting in terms of easing some of those restrictions and your outlook for 2022?

Minister: We have one of the highest vaccination rates in the world, I think we are now at about 85 to 86 percent (who have had) two doses. Boosters – 20 percent and rising. The unique thing about what we are trying to do is to get to the level where there is reasonable population immunity, but for this to occur with very, very low mortality rates. That is what we need. Right now, what you are watching in Singapore is that the virus is spreading in a population which is immunologically naïve – that is a big word. Basically, we used to be on “COVID Zero”. We are now transiting into an endemic, coping situation. But the difference is, we are transiting in the presence of very high vaccination rates, and our ambition is to get through this with the lowest mortality rate in the world.

Ahn: Minister, thank you so much for being here and for having us.

Minister: You are most welcome. 

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Increasingly people across the world are being challenged by the devastating outcomes of climate change. Now, more than ever, even more serious and sustainable measures need to be taken to stop the clock from ticking for irreversible damage

WITH climate change intensifying and scientists warning that humanity is running out of time to limit global warming to 1.5°C above pre-industrial levels, 2021 has been a highly fraught year

for the planet. As shared by the UN Environment Programme (UNEP)  website Emissions Gap Report 2021 reveals that new national climate pledges combined with other mitigation measures put the world on track for a global temperature rise of 2.7°C by the end of the century. That is well above the goals of the Paris climate agreement and would lead to catastrophic changes in the Earth’s climate. To keep global warming below 1.5°C this century, the aspirational goal of the Paris Agreement, the world needs to halve annual greenhouse gas emissions in the next eight years.

If implemented effectively, net-zero emissions pledges could limit warming to 2.2°C, closer to the well-below 2°C goal of the Paris Agreement. However, many national climate plans delay action until after 2030. The reduction of methane emissions from the fossil fuel, waste and agriculture sectors could help close the emissions gap and reduce warming in the short term, the report finds.

Gathered together at the 26th UN Climate Change Conference of the Parties (COP26) in Glasgow on 31 October – 12 November 2021, world leaders on the frontline of climate change sought to accelerate action towards the goals of the Paris Agreement and the UN Framework Convention on Climate Change. Amongst the countries represented at the event were some of the world’s leading emitters of carbon.

As revealed by the data put together by scientists the “Tipping point” in this Climate Crisis is about to come if not looked into with greater seriousness than ever before. Tipping point, for the uninitiated refers to the irreversible point in the Climate System, locking in further global heating. What was hard to concede for the worried leaders was the failure of achieving the primary goal of Paris Agreement 2015 which was to limit rising global temperature to 2 degrees celsius and cap heating to 1.5 degree celsius. Though over 190 nation-states participated in the Paris Conference, the commitment to cater to the urgent need for Climate protection wasn’t fully accomplished. This has spurred concerned leaders from around the across the globe to once again come together and address the issue to bring workable solutions into action.

The Conference of Parties (COP)26  was initially scheduled to take place in 2020 but was rescheduled because of the coronavirus pandemic, for 31st Oct to 12th Nov 2021in Glasgow (Scotland), The United Kingdom of Great Britain and Northern Ireland. The presidency is held by the UK in partnership with Italy. With about 30,000 delegates  attending the conference with more than 190 countries taking part, leaders from the People’s Republic of China, Russian Federation and Turkey however failed to attend the conference in person.

The Glasgow meet emerged out of two significant conferences held in Milan, Italy this year itself. The ‘Youth4Climate: Driving Ambition‘ (28th-30th Sept 2021) and The Pre-COP 26 Summit called ‘All4 Climate’ (30th Sept- 2nd Oct 2021). These conferences were part of the United Nations Climate Change Conference of Youth.

COP 26 and its Objectives:
The formation of COP 26’s objectives was created out of two International frameworks. The first was the Kyoto Protocol 1997 and the second the Paris Agreement 2015. COP 26 was tasked to fill in the gaps that existed in implementation of the aforementioned frameworks. ASEAN, for example, had reason to repeatedly push into consideration Article 6 of the Paris Agreement.

Showstopper of COP26
The highlight of this conference was the idea of “Climate Financing” wherein multiple nation-states have been seen making a commitment to contribute their part in the form of climate investment. A unique initiative introduced at the event by Singaporean Minister for Sustainability and Environment, Ms. Grace Fu was the idea of “Climate Governance” ahead of the conference within her country’s Parliament. This idea was much welcomed and was discussed further in the on-going COP26 Conference.

NDCs (Nationally Determined Contributions) are an essential component of COP26 discussions as it was one of the premier stones of the Paris Agreement. It is because of the NDC provision of the Agreement that head of the nation-states can be held accountable today.

Four key objectives marked the COP 26 Conference this year:

• To secure Global net zero by mid century (2050) and keep 1.5 degree within reach. This includes actions like phase out coal, deforestation, speed up to switch e-, encourage investment in renewable energy.
• To adapt to protect communities and natural habitats including protection and restoration of ecosystems, build defence, warming systems, resilient infrastructure and agriculture.
• To mobilize Finance. COP 26 calls for the Developed countries to come forward and mobilize at least $100 Billion in climate finance per year.
• To Work Together. Finalising Paris rulebook and encouraging collaboration between government, businesses and civil society are both essential agendas of this action.

Leaders have their say

The UK
 In his opening address at COP26 UK Prime minister Borris Johnson pointed out that: ‘It’s one minute to midnight on that doomsday clock and we need to act now. If we don’t get serious about climate change today, it will be too late for our children to do so tomorrow.’

The three goals that the UK has set itself are:

1. Accelerate transition from coal to clean power
2. Protect and restore nature for the benefit of people and climate
3. Accelerate transition to zero emission vehicles

The focus right now is on climate action along with economic progression or growth. Its self-set targets include – net zero carbon emission 2050, To double International Climate finance to help developing nations with 11.6 billion pounds a year by 2025.In collaboration with Egypt, Bangladesh, Malavi, Netherlands, Saint Lucia and United NAtions Development Programme (UNDP)  the UK has co-developed “Adaption Action Coalition”. It has also highlighted the need for public and private financing.

CHINA
While President Xi Jingping, was not there personally to attend the conference he had sent a written official statement saying : ‘ I hope all parties will take stronger actions to jointly tackle the climate challenge and protect the planet, the shared home for us all’, as reported by Xinhua News (state news agency in China). Furthermore President Xi shared that: ‘China would vigorously” develop renewable energy and build wind and solar power stations and that China would “rein in the irrational development of energy intensive and high-emissions projects.’ To be noted, however, was that China failed to make any new commitments on climate change. China’s target for net zero is also well beyond the 2050 target.

USA
US President Joe Biden in his opening speech spoke of how “in an age where this pandemic has made so painfully clear that no nation can wall itself off from borderless threats, we know that none of us can escape the worst that’s yet to come if we fail to seize this moment.’ Further he talked about the significance of seeing this as an opportunity to strive towards a cleaner future but also for more economic progression. He was of the belief that investing in innovation can solve both purposes as well as create and make more jobs accessible to the people. President Biden has set short and long term sprints to achieve. One of these was for America to quadruple Climate finance support for developing countries by 2024. The country was also targeting to achieve zero emissions by 2050. President Biden emphasized. Its “Build Back Better World” initiative in partnership with other G-7 partners was looking at investing $555 billion along with the Bipartisan Infrastructure deal. It is estimated that these two together can reduce greenhouse gas pollution by over 1 gigaton in 2030. America has also contributed $3 billion to the adaptation funds.

INDIA
According to Prime Minister Narendra Modi India had ‘delivered both in letter and in spirit’ on its Paris commitment. He pledged to reach a net zero carbon emission by the year 2070. His speech included 5 climate related pledges including meeting 50% of its energy needs 2030. Prime Minister Modi also said that India would reduce carbon emission by 45%.

RUSSIA
Though he did not personally attend the conference Russian President Vladmir Putin sent a recorded video statement saying that ‘I am convinced the conservation of forest and other natural ecosystems is a key component of International efforts to tackle global warming and reduce greenhouse gas emissions’. He said Russia also aims for carbon neutrality by the year 2060 although almost a decade later to the global deadline. In reference to this he stated ‘Russia is committed to achieving a carbon neutral economy by 2060 at the latest and is relying , among other things, on unique natural resources of its forest ecosystem and their significant capacity to absorb CO2 and produce O2.’

JAPAN
Japan makes a promising comeback in the climate change summit. The Japanese Prime Minister, Fumio Kishida pledged to fund more than $10 billion in over 5 years to aid Asia reach the goal of net zero carbon emissions. In a statement he further stated that Japan would double its assistance to $14.8 billion to help other countries adapt to climate change and prevent disasters. Eventually, it will invest in a $100 million project to develop hydrogen or ammonia fired emissions which are non-carbon based alternatives to energy production. “I assure that Japan aims to reduce its greenhouse gas emissions by 46% in the fiscal year 2030 from its fiscal year 2013 levels, and that Japan will continue strenuous efforts in its challenge to meet the lofty goal of cutting its emissions by 50%.’  Kishida stated.

SINGAPORE
Singapore committed to phasing out unabated coal power by 2050, as announced by the PMO on November 4, 2020. The declaration came as Singapore announced its membership of the Powering Past Coal Alliance (PPCA) at the COP26 climate summit in Glasgow. ‘The burning of coal is putting billions of people at immediate risk. This is why Singapore has decided to join the Powering Past Coal Alliance,”’ said Minister for Sustainability and the Environment Grace Fu at the COP26 Energy Presidency Event . ‘We will transform our industry, economy, and society to be more energy and carbon-efficient, and to adopt more low-carbon energy in support of the goals of the Paris Agreement,’ she said. 

For all COP26 official statements click :

Emissions by Country

THE world’s countries produce varying amounts of greenhouse gases into the atmosphere. The overall emissions level in a country can be explained by the size of its population, its GDP, its energy mix, and more.

In 2017, global carbon dioxide emissions from fuel combustion reached 32.8 billion tons in 2017 according to the International Energy Agency. China, the largest contributor, was responsible for 28% of these emissions, followed by the United States (14%), the European Union as a whole (10%), India (7%), Russia (5%), Japan (3%), Korea (2%), Canada (2%), Indonesia (2%), and Iran (2%). All other countries produced about 25% of emissions.

The 20 countries with the highest carbon dioxide emissions (in million tons (Mt)) are:

1. China (9,300 Mt)
2. The United States (4,800 Mt)
3. India (2,200 Mt)
4. Russia (1,500 Mt)
5. Japan (1,100 Mt)
6. Germany (718.8 Mt)
7. Korea (600 Mt)
8. Iran (567.1 Mt)
9. Canada (547.8 Mt)
10. Saudi Arabia (532.2 Mt)
11. Indonesia (496.4 Mt)
12. Mexico (446.0 Mt)
13. Brazil (427.6 Mt)
14. South Africa (421.7 Mt)
15. Australia (384.6 Mt)
16. Turkey (378.6 Mt)
17. United Kingdom (358.7 Mt)
18. Italy (321.5 Mt)
19. France (306.1 Mt)
20. Poland (305.8 Mt)