Positive Developments in Singapore’s Relations with Neighbors:
Prime Minister Lee Hsien Loong acknowledges the significant progress made in relations with Indonesia, particularly the signing of three bilateral agreements under an expanded framework.

Key Agreements Signed with Indonesia:
Flight Information Region (FIR) Agreement: Provides a workable solution for airspace management, addressing a vital concern for Singapore and a politically sensitive issue for Indonesia. Defence Cooperation Agreement (DCA): Covers SAF training, including in traditional areas in the South China Sea, crucial for Singapore’s Air Force and Navy. Extradition Treaty: A long-standing Indonesian request, despite legal system differences, demonstrates a commitment to resolving outstanding issues.

Significance of Resolving Long-Standing Issues:
Prime Minister Lee emphasizes the importance of resolving these sensitive issues to prevent potential future conflicts and ensure a positive bilateral relationship. Settlement of these issues with President Jokowi paves the way for enhanced trust and cooperation.

Moving Forward with Confidence and Trust:
With these agreements in place, Indonesia and Singapore can focus on collaboration and explore new areas of cooperation, such as the digital economy, sustainability, and renewable energy. The signing of several MOUs during President Jokowi’s recent visit to Singapore reflects the progress made in these areas.

Broad Cooperation Agenda with Malaysia:
Singapore also maintains a broad cooperation agenda with Malaysia, indicating a positive relationship between the two countries.

Overview:
Singapore’s Prime Minister Lee Hsien Loong discusses the strong relationship between Singapore and its neighbors, as well as the challenges faced due to ongoing geopolitical conflicts, particularly the war in Ukraine and tensions between the United States and China.

Singapore-Malaysia Relations:
Singapore and Malaysia have a stable and encouraging relationship, with ongoing cooperation in various areas such as trade, investment, and connectivity. Leaders from both countries are committed to managing bilateral issues constructively, preventing any single issue from disrupting the overall relationship. Frequent exchanges at all levels have been maintained, including high-level visits and state visits. Both countries are working together on new areas like the green and digital economies, as well as ongoing projects such as the Rapid Transit System Link between Singapore and Johor Bahru. The RTS Link Marine Viaduct is progressing steadily, with the next milestone being the completion of the drop-in span to join both sides of the viaduct.

Global Challenges:
The war in Ukraine has resulted in a stalemate, with no clear end in sight and the potential for escalation. The conflict is disrupting global energy, food, and fertilizer supplies, leading to higher prices and impacting international relations. Russia’s suspension of the New START Treaty, the only remaining nuclear arms control treaty with the United States, adds to the tension. China faces a difficult position due to Russia’s invasion of Ukraine, balancing its relations with Russia and the West. The US-China relationship is experiencing deep mutual suspicion and fundamental mistrust, with both sides perceiving the other as a threat. Negative perceptions and unfavorable views of each country prevail among the public in both the US and China. China’s leaders believe the US is seeking to contain and suppress China, while the US sees China’s growth as a threat to its interests and values. Taiwan remains a dangerous flashpoint, with China considering it a domestic matter and the US expressing support for Taiwan’s independence.

Conclusion:
Singapore’s Prime Minister emphasizes the importance of maintaining good relations with its neighbors and addressing global challenges through cooperation and diplomacy. He highlights the need for careful management of bilateral issues and the need to avoid allowing any single issue to dominate and disrupt the overall relationship.

Singapore’s Stance on Taiwan:
Singapore maintains a One-China policy and advocates for peaceful cross-strait relations. China considers Taiwan its most critical issue and views the One-China principle as its “reddest of red lines.” In the West, an alternative narrative is emerging that portrays the Taiwan issue as a democratic versus autocratic ideological conflict. This difference in perspectives is concerning and heightens tensions in cross-strait relations.

Escalating Tensions over Taiwan:
Tensions over Taiwan are elevated, with various parties making moves and responding to each other’s actions. China conducted extensive military exercises around Taiwan in response to Dr. Tsai Ing-wen’s meeting with US House Speaker Kevin McCarthy. The risk of miscalculations or mishaps is increasing, potentially leading to further escalation.

US-China Relations and Global Implications:
US-China relations are unlikely to improve in the near future, despite both sides’ desire to avoid direct conflict. Enduring enmity and poor relations between the US and China will be costly for both nations and problematic for the rest of the world. Singapore hopes that US-China relations can be repaired over time, based on mutual trust and respect.

Threats to the Global Multilateral Trading System:
The global multilateral trading system is facing challenges, with severe implications for small, open economies like Singapore. A stable and well-functioning international trading system is crucial for Singapore’s survival as an open economy.

Globalization and Free Trade:
Free trade and investment, along with common rules, have been instrumental in Singapore’s success. In recent decades, there has been a consensus supporting globalization. Countries lowered barriers, harmonized rules, and sought win-win economic cooperation.

Changing Landscape:
Countries now prioritize domestic and national security considerations over free trade. Bilateral trade is affected by political and security disputes. Countries impose restrictions on imports or exports to inflict political pain. Trust among countries is diminishing, leading to on-shoring and friend-shoring of supply chains. Protectionism is becoming the default, resembling the period between World Wars I and II.

Economic Consequences:
IMF estimates that global economic fragmentation could reduce global GDP by 7% cumulatively. De-globalization will also impact idea exchange, innovation, technology development, and capital flows. Economic growth, especially in open economies like Singapore, will be affected.

Current Global Situation:
The combination of strategic and economic challenges is unprecedented. Hot war in Europe, deepening hostility between superpowers, and protectionism are creating simultaneous crises. These crises will cause severe disruptions globally, regionally, and in Singapore.

Remaining United:
Singapore must remain united in the face of global challenges. Past successes were achieved through cooperation and mutual understanding. Recent sensitive issues were handled carefully to maintain harmony and avoid divisions. Singapore’s approach is to find middle ground, bridge differences, and keep Singaporeans together.

Harmony and Social Cohesion:
Singapore’s harmony is precious and fragile, requiring continuous effort to maintain. External pressures may strain society, leading to divisions along various fault lines. It is essential to close ranks and appreciate each other’s perspectives. Hard choices must be made based on facts and sound analysis. Trust between the government and people is crucial for a shared vision of the future.

Forward Singapore Agenda:
The Forward Singapore initiative aims to refresh the social compact and create a collective roadmap. Meritocracy will be ensured for all, leaving no one behind. Safety nets will be enhanced against life’s uncertainties. A common understanding and purpose will bind Singaporeans together. The government will fully support this agenda with policies, programs, and resources.

Go-getting Spirit and Self-Reliance:
Unity alone is not enough; Singapore needs a go-getting spirit and self-reliance to achieve prosperity. Singapore’s history is marked by grit and determination in overcoming challenges. Raja’s rallying call for sustained effort, risk-taking, innovation, and postponing immediate rewards is still relevant today. This formula has worked for Singapore in the past and will continue to do so.

Confidence in Singaporeans’ Resolve:
Singaporeans have not forgotten the fundamentals of nation-building. Examples of young Singaporeans living and working in Rwanda demonstrate their willingness to venture overseas and contribute to the global community. Singaporeans can overcome current challenges by drawing on their past experiences and strengths.

Entrepreneurial Spirit in Singapore:
Singaporeans are taking bold steps by starting their own businesses in unfamiliar lands, like Rwanda and Silicon Valley. They are driven by a sense of adventure and the desire to create something new. They are inspired by the culture of innovation and the entrepreneurial spirit of the people they meet.

Global Strategy for Singapore:
Singapore aims to thrive as a global city and international hub despite the challenges of globalization. The country recognizes that globalisation is shifting towards inward-focused policies in larger countries. Singapore cannot afford to turn inwards due to its small size and lack of domestic market.

Education and Opportunities for Singaporeans:
Singapore’s education system provides young people with the skills and knowledge they need to succeed. Singaporeans have access to opportunities and exposure that help them develop their talents and interests. They make the most of these opportunities and are willing to work hard to create a better future for themselves and their country.

Raja’s Vision for Singapore:
Raja would be proud and delighted to see the entrepreneurial spirit and global outlook of young Singaporeans. He would appreciate their willingness to take risks and pursue their dreams. He would encourage them to continue working hard and making Singapore a better place for all.

Global Connectivity and Openness:
Singapore’s survival depends on staying open and connected to the world, doing business, and delivering value. The strategy is to double down on this approach and maintain its status as a global city and international hub. Singapore must work hard to form good relations with countries big and small and find ways to collaborate.

Opportunities Amidst Challenges:
Even in times of global turmoil, trade and opportunities exist, allowing Singapore to maintain its success. Changi Airport, Singapore Port, and the financial center can continue to thrive by adapting and innovating.

Adapting to Technological Advancements:
Singapore needs to continually upgrade existing capabilities and build new ones to stay competitive. Artificial intelligence (AI) will impact jobs and industries, requiring businesses and workers to adapt and upskill. Singapore must welcome and integrate skilled professionals from around the world to facilitate this transformation.

Singapore’s Strong Business Environment:
Singapore ranked top in the Economist Intelligence Unit’s (EIU) business environment ranking for 15 consecutive years. This attracts businesses, investors, and talented individuals from around the world. Singapore’s strong biomedical base and infrastructure have secured several vaccine projects, including investments from Pfizer and BioNTech.

Upholding Singapore’s Good Reputation:
Singapore’s good reputation and standing in the world are crucial for its success. Singaporeans should be proud of and uphold this reputation when representing the country overseas.

Factors Contributing to Singapore’s Reputation:
Singapore’s system works efficiently, as demonstrated during the COVID-19 pandemic. Singaporeans are hardworking, skilled, reliable, and trustworthy. Singapore honors its commitments and acts based on consistent principles. Singapore’s leaders speak with a mandate and authority, backed by public support. Singapore’s policies are stable and do not change drastically after elections.

Singapore’s Global Contributions:
Singaporeans hold leadership positions in international organizations, such as the World Intellectual Property Organization (WIPO) and the Global Commission on Water Governance. Singapore’s Ambassador for Oceans and Law of the Sea Issues, Rina Lee, successfully concluded negotiations on the BBNJ Agreement or High Seas Treaty. Singaporeans working in various fields worldwide contribute to enhancing the country’s international reputation.

Conclusion:
Singapore’s strong international reputation is a valuable asset that has contributed to its success. All Singaporeans should uphold and protect this reputation when representing the country overseas.

Reputation and Trust:
Singapore’s high international reputation is a key factor in attracting investments and maintaining a stable economy. Good governance, stable politics, and a trustworthy system are essential for companies and investors.

The Importance of Honesty and Integrity:
Honesty and integrity are crucial for Singapore’s success, but maintaining these values beyond the founding generation is challenging. Attitudes and mindsets change over time, leading to a potential decline in values and a weakening of the system.

Economic Strength and Strong Institutions:
Singapore’s economic soundness and strong institutions provide a solid foundation for the country’s success. Capable and trustworthy leaders are essential for ensuring long-term success.

The 4G Team and Leadership Continuity:
The 4G team is in place and ready to take over from the current leadership. The 4G Ministers gained valuable experience during the pandemic, demonstrating their leadership qualities and ability to work together. They have a strong agenda to fulfill domestically and internationally and need the support of all Singaporeans. DPM Wong has been chosen as the leader of the 4G Ministers.

Leadership Succession:
Lee Hsien Loong calls for support for his team and the future leaders of Singapore. He emphasizes the importance of a successful leadership transition to ensure continued progress and stability.

Global Challenges:
Lee warns of a troubled world and the need for swift action to address emerging challenges.

Tribute to Forefathers:
He praises the hard work and dedication of Singapore’s forefathers in building the nation. He highlights their determination to create a prosperous and united country despite limited resources.

Can-Do Spirit and Ambition:
Lee urges Singaporeans to embrace the “can-do” spirit and strive to be an exceptional country. He calls for maintaining Singapore’s international reputation for quality, reliability, and efficiency.

Standing Up for Principles:
Lee emphasizes the importance of upholding principles and values to advance Singapore’s long-term interests. He believes this approach will earn Singapore respect and influence beyond its size.

Collective Effort:
Lee stresses the need for collaboration between the government and people to build a Singapore that everyone can be proud of. He encourages bold thinking, high aspirations, and working together for a brighter future.