Enormous increase for UK economic system as Rishi Sunak indicators cope with Singapore
Prime Minister Rishi Sunak will meet Singaporean Prime Minister Lee Hsien Loong within the margins of the G20 Summit in India to signal a brand new settlement immediately.
The bilateral funding treaty – the primary the UK has negotiated since leaving the EU – will give Singaporean firms extra confidence to put money into the UK and vice-versa.
Officials stated it will create jobs and develop the nations’ economies.
The Prime Minister stated: “I am totally committed to delivering on my priorities to halve inflation, grow the economy while reducing government debt, cut NHS waiting lists and stop the boats. But none of these priorities can be achieved without working with our international partners.
“As Prime Minister, I’ve put the pursuits of the British individuals entrance and centre of my worldwide engagement. I’m guaranteeing that diplomacy delivers.
“You have already seen that through deals that will stop illegal migration, make our economy more secure and increase trade with our international partners.
This new agreement with Singapore will take us even further in delivering our priorities and ensure that, as we map the future of the world economy, we are doing so alongside our closest partners.”
Mr Sunak will also meet his Indian counterpart Narendra Modi today for bilateral talks.
Speaking to Indian media on Friday, he said progress had been made but there was “still hard work to go”.
The UK leader insisted he will not “sacrifice quality for speed” in his quest to secure a bumper trade deal with the commonwealth nation.
He called it “vital” that the UK strengthens its relationship with the country but stopped short of setting a timeline for an agreement.
He said: “Without question, India is going to be one of the most significant countries geopolitically over the next years and decades, and it’s vitally important for the UK to deepen our ties particularly economically and more broadly with India, so that’s why we’ve been working towards an ambitious and comprehensive free trade deal, but it’s not a given.
“These things are a lot of work and a lot of time. That’s why I’ve never put artificial deadlines on these trade deals.
“I’ve always said we shouldn’t sacrifice quality for speed. And we need to end up with something that works genuinely for both sides.
“Of course, every time I see Prime Minister Modi it’s something we check in at, but that’s not the main purpose of this visit and this trip. There’s lots of other things we’re going to be discussing and work on that is ongoing.”
London and New Delhi had a £36billion trading relationship in 2022-2023 but Mr Sunak is set to want to finalise an economy-boosting post-Brexit trade agreement with the country that has a population of 1.4 billion people.
Mr Sunak could also discuss the case of British man Jagtar Singh Johal who is facing the death penalty when he meets Narendra Modi.
More than 70 MPs signed a letter urging the PM to call on Mr Modi to “instantly launch” the blogger, 36.
Mr Sunak stated: “Both the Foreign Secretary and actually Foreign Office Ministers have raised this case on multiple occasions with their counterparts. We understand what his family are going through and want to make sure that the process works and that justice is done appropriately as well.“
When asked whether he would be raising the issue directly, he said: “I’ll be raising a range of things with Prime Minister Modi.
“This is something that, just so people are reassured, has already been raised on multiple levels on multiple occasions.”
Mr Johal stays in jail in India six years after being detained.
He faces eight fees of conspiracy to homicide, linked to political violence in India. His household say courtroom proceedings have began however been adjourned repeatedly.