Germany to strengthen supply chain cooperation with Singapore
Germany plans to work more closely with Singapore to address shared supply-chain challenges, German Finance Minister Lars Klingbeil said Thursday after talks with Singaporean leaders.
During his visit, Klingbeil met President Tharman Shanmugaratnam, Prime Minister Lawrence Wong, and Deputy Prime Minister Gan Kim Yong, as the two nations celebrate 60 years of diplomatic ties. He emphasized the importance of diversifying supply chains and reducing dependency on single markets amid global trade tensions, News.Az reports, citing Reuters.
Klingbeil noted that Germany, caught between U.S. tariffs and China’s export restrictions, is seeking new partnerships to secure national interests. Singapore, which faced a 10% U.S. tariff on exports and sectoral tariffs on pharmaceuticals, shares similar concerns.
After Singapore, Klingbeil will attend the G20 summit in Johannesburg, expressing regret that U.S. officials will not participate due to concerns over “human rights abuses” in South Africa. He stressed the importance of engaging with other countries to build new international partnerships.
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