Consensus on equitable vaccine access and promotion of vaccine multilateralism
Deputy Minister Kim requests interest and participation from International Vaccine Institute (IVI) Singapore
Held a small meeting with local Korean entrepreneurs, also visited Korea Startup Center
[Asia Economy Reporter Lim Cheol-young] On the 25th, Vice Minister Kim Geon visited Singapore and held meetings with Stanley Loh, Singapore’s Ministry of Foreign Affairs Second Permanent Secretary, and Ng Teck Hin, Deputy Secretary of the Ministry of Foreign Affairs, the Ministry of Foreign Affairs announced.
During the meeting with Stanley Loh, the ASEAN Senior Officials Meeting (SOM) representative of Singapore and Second Permanent Secretary, Vice Minister Kim expressed, "I am pleased to be able to visit Singapore amid the COVID-19 situation by using the Korea-Singapore Fast Lane." Korea and Singapore agreed to simplify entry procedures (Fast Lane) for essential personnel such as businesspeople and government officials following a phone call between the two countries’ foreign ministers on the 2nd, and the system has been in effect since the 4th. In response, Second Permanent Secretary Loh mentioned that Vice Minister Kim’s visit was significant as it was the first official visit through Singapore’s Fast Lane system since its implementation.
During the meeting, both sides shared evaluations of the recent ASEAN-related foreign ministers’ meeting and agreed to cooperate closely to ensure the success of the November summit. They also agreed on the importance of equitable access to vaccines and the promotion of vaccine multilateralism. In particular, Vice Minister Kim requested Singapore’s interest and participation in the International Vaccine Institute (IVI). Furthermore, Vice Minister Kim emphasized the expertise and experience of Yoo Myung-hee, the head of Korea’s Trade Negotiations Headquarters and candidate for the Director-General of the World Trade Organization (WTO), and sought Singapore’s support.
Additionally, Vice Minister Kim met with Deputy Secretary Ng Teck Hin to discuss cooperation measures for overcoming COVID-19, the need to connect and expand regional Fast Lanes, and the P4G summit. Both sides shared their countries’ COVID-19 response policies and exchanged views on vaccine multilateralism and health cooperation at the Korea-ASEAN level to overcome COVID-19.
Both parties agreed to continue cooperation to maintain stable international supply chains and the movement of essential personnel amid the COVID-19 situation. They also agreed to consider expanding the scope of the Fast Lane and multilateralizing it after its smooth implementation is established. In particular, Vice Minister Kim emphasized the importance of cooperation on transnational threats such as climate change and requested Singapore’s interest and support for the 2nd P4G summit scheduled for next year.
Vice Minister Kim also held a small meeting with Korean businesspeople based in Singapore. Singapore is a logistics and transportation hub in the Asia-Pacific region and the second-largest overseas investment destination in Southeast Asia, with companies in various sectors such as finance and construction operating there. The attending Korean businesspeople stated that, following the implementation of the Korea-Singapore Fast Lane, business trips to Korea have become possible despite the previously unthinkable situation of not being able to travel to headquarters due to COVID-19, which has been a great help to companies facing difficulties caused by the pandemic.
Furthermore, the attending businesspeople reported that, influenced by the Korean Wave, the number of Singaporeans visiting Korean restaurants locally has surged amid the COVID-19 situation. They advised that actively promoting Korean culture would be helpful for local business activities, as interest in Korean culture in Singapore is higher than ever. Vice Minister Kim responded, "We will take into account the various new situations our businesspeople are facing due to COVID-19 on the ground and will consult with related countries going forward."
Meanwhile, Vice Minister Kim visited the Korea Startup Center (KSC). The Korea Startup Center is a platform supporting the overseas market entry of Korean startup companies, established in July this year as a follow-up to the Memorandum of Understanding (MOU) on small and medium-sized enterprises and startup cooperation signed during the President’s state visit to Singapore in July 2018.
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