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The strong commercial links between two small but mighty countries were celebrated this week when King Carl XVI Gustaf of Sweden made his first ever state visit to Singapore at the invitation of President Tharman Shanmugaratnam.
The King made the nearly 10,000 km trip to consolidate that good relationship, as well as strengthen the two countries’ economic and political ties, focusing on trade, innovation, investments and green transition. According to The Straits Times, in 2023 total bilateral goods trade between Sweden and Singapore stood at $2.2 billion, while trade in services was about $1 billion.
The three-day event included visits to some of Singapore’s most iconic locations, including Singapore Botanic Gardens, Marina Bay Sands and and Marina Barrage, Brani Island, Pernanakan Museum and Nanyang Technological University.
One of the highlights of the State Visit included an impressive Royal Convoy, organised by the Swedish Embassy. The 12-vehicle convoy featured Singapore’s iconic blue and yellow Comfort DelGro taxis, driving in the formation of the Swedish flag and bearing the names of some of Sweden’s biggest companies that also have a home in Singapore.
Joakim Ladeborn, Deputy Head of Mission at the Embassy of Sweden, said: “We thought this uniquely Singaporean welcome would be a charming way to start off the official State Visit.”
GAC Singapore – part of the GAC Group founded by Swedish businessman Bengt Lindwall nearly 70 years ago – was proud to be one of the sponsors of the Royal Convoy, ensuring that the maritime industry and its importance to global trade was represented during this historic visit.
Sofie Bager, GAC Singapore’s Managing Director, was present at several of the events held as part of the Royal visit, including the Singapore-Sweden Royal Business Forum 2024 where discussions centred around digitalisation, green transition and innovation in energy, transport and life science sectors for a sustainable future.
“I was honoured to witness such an historic occasion,” she says. “Singapore remains one of the world’s major shipping hubs and is home to some of the biggest names in global trade and business.
“It was a great honour for us to be a part of the Swedish King’s first State Visit to Singapore. This significant milestone in our two nations’ history highlights the importance of continued collaboration in the areas of technology, education, culture and business.
“Our historical ties to Sweden and our presence as one of Singapore’s leading ship agents uniquely positions GAC to showcase the very best of both countries and ensure that the strong collaboration between Sweden and Singapore continues well into the future.”
Shared values
The connections between Sweden and Singapore are rooted in shared values of innovation and growth.
The two countries formed diplomatic ties in 1966, just a year after Singapore gained its independence. As a result, Sweden played a key part in Singapore’s formative years, bringing business, investment and expertise to help it become the leading industrial and financial hub in the region.
Singapore remains one of Sweden’s largest trading partners in Southeast Asia, covering everything from industrial goods, defence, technology and education. More than 500 Swedish companies operate in Singapore, including Ericsson, IKEA, Volvo and H&M.
This economic importance was highlighted by President Shanmugaratnam during his speech to the King during the opening State Banquet: “Singapore and Sweden are geographically distant but we share many similarities. We both seek to constantly innovate and to do well by keeping our economies open. Importantly, we are determined to work towards a better tomorrow for our people and the world.”
Both Sweden and Singapore continue to lead in digitalisation and smart port developments, as well as in advancing environmental standards to promote a more sustainable maritime industry.
Swedish training institutions, such as the World Maritime University in Malmö, regularly welcome Singaporean maritime professionals and students. Likewise, Singapore’s Maritime and Port Authority (MPA) regularly collaborates with Swedish maritime institutions to exchange knowledge and ensure best practices.
A home for GAC
Since GAC set up its first office in Singapore in 1981, it has become one of the maritime sector’s leading providers of shipping and logistics services in the city state. Singapore is also home to GAC’s Asia Pacific & Indian Subcontinent Regional Office, GAC’s Hub Agency Centre, GAC Marine Logistics and GAC Bunker Fuels, further underlining Singapore’s significance as a leading maritime centre.
“For more than four decades, we have been proud to call Singapore the home of our Asia-Pacific & Indian Subcontinent operations. With roots and values stemming from our Swedish heritage, GAC has tailored its renowned shipping and logistics services to the local market,” says Sofie.
“We are proud of our continued contribution to Singapore but we never forget our origins. Sweden’s commitment to innovation and high-quality operational standards in global shipping and logistics is reflected in the culture we see in Singapore every day. These same standards drive GAC’s dedication to supporting its customers, be it in Singapore, Sweden or anywhere else in the world.”
