By Pesach Benson – TPS

Visiting Singapore, Israeli Minister of Economy and Industry, Nir Barkat met with Deputy Prime Minister Heng Swee Keat to discuss bilateral relations and trade on Monday.

Barkat is leading a business delegation to the South East Asian country.

Barkat invited Heng to pay a reciprocal visit, and Heng told Barkat he intends to visit Israel by the end of 2023. Heng also serves as Coordinating Minister for Strategic Economic Affairs.

The main topics of discussion were technological innovation, support for entrepreneurship, research and development, medical research, solutions in the field of water, tourism and education.

Following their meeting, the two held a joint meeting with the Israeli businessmen in Barkat’s delegation.

“Israeli innovation is highly valued in Singapore,” Barkat said. “I welcome the opportunity to meet with Deputy Prime Minister Swee Kat Heng, and discuss with him ways to expand the business potential for Israeli companies in Singapore and for Singaporean companies in Israel, with the aim of continuing to develop the economic relations between the countries.”

As of 2022, the trade trend between Israel and Singapore was on the rise, and in 2022, the volume of trade was about $ 3.8 billion, an increase of about 67% percent compared to 2021. The total of Israeli exports was $1.16 billion. Israeli machinery accounted for 51% of the exports, followed by optical, medical and other equipment (17%), and transportation products (16%).

Total Israeli imports were about $2.1 billion mostly transportation products (60%) and machinery.

Between Israel and Singapore there is also a branch of trade in services, with Israel importing from Singapore about $150 million, which included sales and marketing (37%) and computing services (27%), while Israel exported services amounting to $580 million, which included, among other things, research and development (32%), and computing (19%).

Israel and Singapore established diplomatic relations in 1969.

The visit follows Barkat’s visit to Vietnam, which signed a free trade agreement with Israel in July. On Wednesday, Barkat and his Vietnamese counterpart, Nguyen Hong Dien, signed an agreement for direct flights between Hanoi and Tel Aviv, which are due to begin in October.

Einat Halevy Levin, president of the Israel-Vietnam Chamber of Commerce, told the Tazpit Press Service in July that a free trade agreement would also position Vietnam as a hub for Israeli business opportunities in Southeast Asia.

In other Israel News, TPS and United With Israel reported that two Israelis on Saturday afternoon were shot and murdered at a car wash in the Arab village of Huwara in Samaria.

Responding Magen David Adom medics declared them dead at the scene. According to a preliminary investigation, the terrorist shot them at close range with a handgun and fled the scene in a vehicle.

The two victims were identified as Ashdod residents Shay Silas Nigrekar, 60, and his 28-year-old son, Aviad.

The IDF has launched a manhunt for the killer and possible accomplices.

“Silas Shay and his son, Aviad, in their lives and in their deaths, were inseparable,” said Ashdod Mayor Yehiel Lasri. “All of Ashdod will mourn their murder during Shabbat in the severe shooting attack in which their lives were taken in such a cruel and criminal manner.”

According to the preliminary investigation, the Negrikars had spent several hours in Huwara, apparently running errands.

(TPS & United With Israel)