Japan & APEC Member Economies

SINGAPORE

Republic of Singapore

Hsing-chia p'o Kung-ho Kuo

Republik Singapura



GENERAL

Area:
641 km2.

Population:
2,930,000 (June 1994).

Ethnic composition:
Chinese (78%), Malay (14%), Indian (7%), others (1%).

Major languages:
English, Chinese, Malay, Tamil (all official).

Major religions:
Buddhism, Taoism, Christianity, Islam, Hindu.

History:
After being administered as a British crown colony, Singapore acquired the right of self-rule in 1959. Upon the formation of Malaysia in 1963 it joined as a state, but it withdrew on August 9, 1965, and proclaimed independence as the Republic of Singapore.

GOVERNMENT

Type:
Republic.

Head of state:
President: Ong Teng Cheong. He assumed office in September 1993 and is serving a six-year term.

Legislature:
The unicameral Parliament consists of 81 members elected to five-year terms.

Executive:
The prime minister is Goh Chok Tong; he assumed office in November 1990. The foreign minister is S. Jayakumar; he assumed office in January 1994.

Domestic politics:
In August 1993 Singapore held its first direct election for president. Former Deputy Prime Minister Ong Teng Cheong won and became the country's 5th president. But despite being backed by the ruling People's Action Party (PAP) and the national labor unions, President Ong managed to secure only 59% of the vote, a figure the ruling party saw as amounting to a serious setback. PAP's share of the vote has been declining over the long term.

Foreign policy:
Singapore seeks solidarity with its ASEAN partners and a balance in the influence of the superpowers over Southeast Asia. It places importance on the U.S. military presence in and political commitment to the Asia-Pacific region. It maintains a neutral, nonaligned stance.

Military:
Defense budget, $2,709 million (27% of the national budget, fiscal 1993). Regular armed forces (obligatory national service for two to two-and-a-half years) consist of 45,000 members of the army, 4,500 members of the navy, and 6,000 members of the air force on active duty (The Military Balance 1992-93).

ECONOMY

Major industries:
Oil refining, shipbuilding and repair, oil-field development services, electronics, commerce, banking.

GNP:
$68.7 billion (1994).

Per capita GNP:
$20,415 (1994).

Real growth rate:
10.1% (1994).

Inflation:
3.6% (1994).

Unemployment:
2.6% (1994).

Trade:
Exports: $96.5 billion; imports:$102.3 billion (1994).

Principal items traded:
Exports:electric products, oil and related products, communications and audio equipment, chemical products;
imports: electric products, oil, chemical products.

Currency:
Singapore dollar. S$1=66.22 yen=US$0.63 (approximate) (Sep. 1995, official rate).

Economic conditions:
A downturn bottomed out in the second quarter of 1992, and since the start of 1993 all industries have been growing rapidly. GDP growth in 1994 reached 10.1%, the highest level since 1988. In 1991 manufacturing contributed 29% of GDP, financial and business services 27%, commerce 18%, transportation and communications 14%, and construction 6%.

ECONOMIC COOPERATION

Japan's aid:
During fiscal 1994 Japan extended technical cooperation amounting to 522 million yen to Singapore. It stopped providing grants after fiscal 1988; the cumulative grant value until then came to 3,117 million yen. The cumulative value of technical cooperation through fiscal 1994 came to 20.1 billion yen.

Principal donors:
Japan ($18.2 million), United States ($3.0 million), France ($3.0 million) (1993, OECD).

BILATERAL RELATIONS

Political:
Japan and Singapore have a firm relationship currently untroubled by any outstanding political problems. Singapore's government and people have shown considerable interest in learning what they can from Japan. The two countries engage in exchange in a wide range of areas and schedule frequent visits of leaders.

Trade:
Exports to Japan: $4,646 million, featuring machinery and equipment, volatile oils and other petroleum products;
imports from Japan: $19,605 million, featuring semiconductors and other electronic parts, office equipment (1994, customs-clearance basis).

Investment:
Japanese direct investment in Singapore amounted to $7.8 billion in 1992.

Japanese residing in Singapore:
21,296 (Oct. 1994).

Singaporeans residing in Japan:
1,346 (June 1994; based on alien registration statistics).

Visits by eminent persons:
Japan to Singapore: Foreign Minister Taro Nakayama (1990), International Trade and Industry Minister Kabun Muto (1990), Prime Minister Toshiki Kaifu (1991), Education Minister Kunio Hatoyama (1992), Home Affairs Minister Masajuro Shiokawa (1992), International Trade and Industry Minister Yoshiro Mori (1993), Education Minister Mayumi Moriyama (1993), Foreign Minister Kabun Muto (1993), International Trade and Industry Minister Hiroshi Kumagai (1993), House of Representatives Speaker Takako Doi (1994), Prime Minister Tomiichi Murayama (1994), Finance Minister Masayoshi Takemura (1995);
Singapore to Japan: Foreign Minister Wong Kan Seng (1990, 1992, 1993), Deputy Prime Minister and Trade and Industry Minister Lee Hsien Loong (1990, twice, 1992), Deputy Prime Minister Ong Teng Cheong (1990), Senior Minister Lee Kuan Yew (1992, 1993, twice, 1994, twice, 1995), Prime Minister Goh Chok Tong (1993), Information and the Arts Minister George Yeo (1995, three times), Foreign Minister S. Jayakumar (1995).

Treaties and agreements:
Agreement Between the Government of Japan and the Government of the Republic of Singapore for Air Services (1967), Agreement of 21st September, 1967, Between Japan and the Republic of Singapore [on reparations] (enforced 1968), Agreement Between the Government of Japan and the Government of the Republic of Singapore for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income (1995).

(July 1995)


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