Following the 7th Singapore-Thailand Enhanced Economic Relationship (STEER) Ministerial Meeting in Singapore on March 14, 2025, Thailand and Singapore have deepened their economic connections by signing new trade agreements and committing to investments. The signing of five memorandums of understanding (MOUs) to strengthen bilateral collaboration and increase export prospects for Thai rice and free-range eggs were the outcomes of talks chaired by Minister of Commerce Pichai Naripthaphan. Tan See Leng, Singapore’s Second Minister for Trade and Industry and Minister for Manpower, co-chaired the conference.

Digital commerce, consumer protection, animal trade rules, financial technology and intellectual property cooperation are all covered by the five MOUs that were signed during the STEER meeting. These accords will reinforce cross-border trade rules between the two countries, increase investment access in financial markets and expand ecommerce options for Thai companies. 

Thailand is attempting to increase Singapore’s import limit for Jasmine rice and other rice types to meet the increasing demand and hasten the market expansion for Thai agricultural products. To certify chicken farms for the export of free-range eggs, Singapore has also consented to deploy an inspection team to Thailand.

- Excel V. Dyquiangco