Singapore, Ecuador ink deal to cooperate in human development

SINGAPORE - Singapore and Ecuador have signed an agreement on development cooperation on Aug 24, during Ecuador President Daniel Noboa Azin’s state visit to Singapore.

The memorandum of understanding will deepen capacity building and the exchange of best practices between the two countries in areas such as leadership, sustainability and the economy.

President Tharman Shanmugaratnam said the agreement is a starting point to strengthen the countries’ partnership in areas of mutual priority. These include trade, education, governance, digitalisation, and public health.

In a toast speech at a state banquet he hosted in President Noboa’s honour at Goodwood Park Hotel, the President said the two countries may be separated by the vast Pacific Ocean, but distance does not determine the depth of a partnership.

The Ecuadorian President’s visit to Singapore reflected the shared purpose to build on the bilateral friendship, and to find more ways for both countries to work together, said President Tharman.

There is also more that connects the two countries than meets the eye, he added.

This includes both being maritime nations with a long history of looking outward, using the oceans for connectivity and to build partnerships around the world.

“As maritime nations, we share a joint interest in upholding the UN Convention on the Law of the Sea and freedom of navigation, and in preserving the broader rules-based international order,” said President Tharman.

The two countries also recognise the importance of openness to trade and investment, President Tharman said, adding that Singapore welcomes Ecuador’s application to become an associate state of the Pacific Alliance.

Once Ecuador becomes a full Pacific Alliance member, it can then enter negotiations with the Republic to accede to the Pacific Alliance-Singapore Free Trade Agreement, which came into force for Singapore, Chile and Peru in May 2025.

President Noboa said Ecuador wants to deepen commercial and trade cooperation with Singapore, as well as in other areas such as scientific research.

Singaporeans could, for instance, live and work at the Charles Darwin research station in Galapagos, he noted.

He also said a banking licence has been offered to any institution chosen by the Singapore Government that would allow it to work directly with Ecuador’s financial sector.

Ecuador also wants to work with the city-state’s universities, and have stronger exchange programs with their students and faculties. 

“Singapore has been an example of organisation, coordination, and also as a determined people to give a better future to themselves and to their future generations,” he said.

President Tharman said another promising area of cooperation is agriculture and food, given Ecuador’s rich agricultural and marine endowment, including in bananas, cocoa, shrimp and tuna.

Singapore companies already see the potential, he noted, highlighting examples of local firms that have ventured into the region such as DiMuto, a company that has worked with Ecuadorian partners to digitise and trace the supply chain for agricultural products.

Another firm, PSA Marine, provides pilotage and boat services in the Ecuadorian ports of Guayaquil and Posorja.

“These are good examples of what our partnership can become, combining capabilities in ways that create value and open new markets,” he said.

Noboa, who is the first Ecuadorian President to make a state visit to Singapore, said the South American nation sees the city-state as a strategic partner in Asia and wants to bring the two business communities closer.

“We’re committed to building long-term partnerships with countries that share our vision of growth, innovation, and sustainable development,” he said. 

“We also value Singapore’s experience in areas that are essential to Ecuador’s future: AI, digital transformation, the strategic use of data, and smart cities.”

President Tharman said both countries are gateways to their respective regions, and that Ecuador can help Singapore firms access opportunities in the Andean region and the wider markets of Latin America.

The two countries can also learn much from each other in preserving their natural and cultural heritage, he added, noting that Ecuador has five Unesco world heritage sites including the Galapagos islands and Quito city, its historic capital.

“Ultimately, the foundations of any bilateral relationship are built not just through agreements, but through the people who give them meaning and momentum,” he said.

“We should create more opportunities for our people – business people, public servants, and youths – to meet and engage. It is through these personal relationships that the most enduring forms of cooperation take root.”