ROBUST TIES: Taiwan last year surpassed China and Malaysia to become the city-state’s biggest trading partner, and is likely to retain that position this yearBy William Hetherington / Staff writer, with CNA請繼續往下閱讀...Taiwan could remain Singapore’s largest trading partner for a second consecutive year, as bilateral trade reached a record high in the first half of this year, Representative to Singapore Tung Chen-yuan （童振源） said.Taiwan surpassed China and Malaysia last year to become Singapore’s largest trading partner, with bilateral trade totaling S$170.3 billion （US$133.8 billion）, a 46 percent year-on-year increase.Trade in the first half of this year reached S$152 billion, up 94.1 percent from the same period last year, Tung said in an interview with the Central News Agency.Singapore was also Taiwan’s largest source of foreign investment last year. Approved Singaporean investment in Taiwan reached US$5.34 billion, accounting for 60.1 percent of total foreign investment. Taiwanese investment in Singapore reached US$1.05 billion, making the city-state Taiwan’s third-largest overseas investment destination.Tung said Taiwan and Singapore have maintained close and diverse ties, with the representative office focusing on strengthening exchanges amid developments in artificial intelligence （AI） and changing geopolitics.Over the past three years, the office has pursued what Tung calls “total diplomacy,” connecting government agencies, businesses, industry associations, universities, cultural groups and civil society through industry matchmaking, research exchanges and professional networks.Tung highlighted the Taiwan-Singapore Economic Partnership Agreement, which took effect in 2014 and covers goods, services, investment, government procurement and e-commerce.In December last year, the two sides also signed a revised agreement on avoiding double taxation and preventing tax evasion. The agreement lowers withholding-tax ceilings and improves tax coordination, reducing uncertainty for cross-border investment.AI, semiconductors and related components accounted for about 85 percent of Taiwan’s exports to Singapore last year, while related products made up about 80 percent of Singapore’s exports to Taiwan.On July 29, the representative office helped HannStar Board （樺漢科技） and the Singapore Manufacturing Federation organize a forum on semiconductor and AI applications. Executives from Google, Arm Holdings and Intel attended alongside representatives from Singapore’s semiconductor, AI, smart-technology and venture-capital sectors.The office also promotes Taiwan through reports, seminars and WhatsApp channels covering agriculture, culture, tourism, healthcare and business opportunities. It has established professional networks for financial officials, academics, technology and biotechnology professionals, and listed-company executives.Tung said his residence hosts about 300 events annually, attracting roughly 4,000 participants.He described “total diplomacy” as a cycle in which exchanges create networks, networks build trust, and trust leads to cooperation and new demand, strengthening the Taiwan-Singapore partnership.新聞來源：TAIPEI TIMES
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