The Philippines and Singapore have further solidified their partnership with the signing of new agreements focusing on Filipino healthcare workers and climate financing. The deals were presented following a bilateral meeting between President Ferdinand “Bongbong” Marcos Jr. and Singaporean President Tharman Shanmugaratnam at MalacaƱang Palace during the latter’s three-day visit to the Philippines.
A key highlight of the agreements is the Memorandum of Understanding (MOU) on the Recruitment of Filipino Healthcare Workers. President Marcos emphasized that this MOU aims to strike a balance between the healthcare needs of both countries while ensuring the protection of Filipino workers. ”Through this MOU, we express our confidence in Singapore’s legal and judicial system, which will ensure that the rights, welfare, and well-being of our kababayan OFWs will be protected as they pursue their careers in Singapore,” Marcos said.
The signing of these agreements comes against the backdrop of strong economic ties between the two nations. In 2023, the total trade between the Philippines and Singapore reached US$10.62 billion, with US$3.53 billion in exports and US$7.09 billion in imports. Singapore ranked as the Philippines’ 8th largest trading partner, 6th export market, and 7th import supplier.
President Shanmugaratnam expressed Singapore’s commitment to the Philippines’ development, stating, “We see ourselves as a partner in [the] Philippines’ development, in all aspectsā¦ economic development, sustainability, inclusive growth, we see ourself as a partner in the long term.” He also noted the keen interest of Singaporean companies in investing in the Philippines, highlighting Singapore’s position as one of the top foreign investors in the country across various industries.
The economic relationship between the two countries is further underscored by the significant Filipino presence in Singapore, with an estimated 200,000 Filipinos living and working there.
These new agreements, particularly in healthcare worker recruitment and climate financing collaboration, mark another step forward in the strengthening bilateral relationship between the Philippines and Singapore, promising mutual benefits in economic growth, sustainability, and human resource development.
