OPENING ADDRESS FOR MINISTER GEORGE YEO AT THE RECEPTION FOR THE 40^TH ANNIVERSARY OF SINGAPORE-RUSSIA DIPLOMATIC RELATIONS, 24 JULY 2008

Your Excellency, Foreign Minister Sergei Lavrov, Distinguished Guests, Ladies and Gentlemen,

This year marks the 40^th anniversary of diplomatic relations between our two countries. It is a significant milestone in our bilateral relationship.

Bilateral cooperation between our two countries has grown especially in recent years. At the political level, out ministers have been visiting each other’s country with increased frequency and we look forward to hosting President Medvedev at a mutually convenient time, maybe around the APEC Summit next year. Our officials have worked together in areas such as Russia’s Special Economic Zones.

Our business links have also grown alot in recent years. In April this year, Singapore hosted for the third time, a very successful Russia-Singapore Business Forum (RSBF). The forum has become an excellent networking platform for businessmen from Russia, Singapore and other countries looking for opportunities to network and explore in Russia and elsewhere. The increasing number of participants attending the Forum in the last three years attests to the growing interest on both sides.

Looking ahead, there is great potential for the development of our bilateral relationship in all fields, not only political and economic, but also scientific and cultural.

The Russian community in Singapore, numbering about 2,000, is a big asset for us. They are well-integrated and play an active role in Singapore society, like the musicians playing with the Singapore Symphony Orchestra and the academics and researchers at the Nanyang Technological University. The Russians who live here contribute much to our city-state, adding to its vibrancy and its diversity.

Singapore is also receiving an increasing number of tourists from Russia. The growth rate in Russian arrivals is impressive; from 26,000 visitors in 2005 to 37,000 in 2006 to 44,000 last year and the Singapore Tourism Board predicts it will hit 50,000 this year. On a per capita basis, Russians are the biggest spenders among Europeans in Singapore. No wonder more Singaporeans are learning the Russian language.

I thank my dear friend, Sergei, for making time to join our celebration this afternoon. He is a man of great charm and intelligence, who even as he pokes fun at you, makes you feel honoured.

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MINISTRY OF FOREIGN AFFAIRS

SINGAPORE

24 JULY 2008