The Singapore Prime Minister pointed out New Zealand was the
first country that the island state signed a free trade agreement
with. He told the assembled audience of business leaders in
Auckland that it is time to build on the existing relationship to
extend the cooperation between two countries.
"You can use us as a springboard, set up in Singapore, cover
Southeast Asia or even beyond," he said. Lee highlighted
Singapore is focused on developing innovation and creative
industries in the city state and can partner New Zealand on such
ventures.
"I've watched all three Lord Of the Rings (movies). I look
forward to The Hobbit and I hope that maybe Singapore can have a
small piece the next time you make... another blockbuster," Lee
Hsien Loong said.
Prime Minister Lee argued that there is a strategic shift in the
world economy with the centre of gravity moving eastwards. At this
crucial juncture it is important that both New Zealand and
Singapore work together to promote international trade through the
Trans-Pacific Partnership, for an eventual Asia Pacific Free Trade
Agreement.
The Singapore PM also answered questions on immigration as well
as the impact of the economic crisis. Lee said Singapore will
continue to invite immigrants to its shore but the pace of
immigration needs to be sustainable. If Singapore society can make
the necessary arguments, then “the more flexible and the more
vibrant” it will become.
The Prime Minister said in an integrated economy it is difficult
to be immune from the shocks in the system but that Singapore has
the policy tools and the financial reserves to meet any crisis.
Speaking about the 2008/09 crisis, Lee said: "Partly, we did the
right thing, partly we were lucky”.
“But the conclusion is, next time, better make sure we've got
the ammunition and powder dry, ready for a crisis,” he added.
