The Russian Ambassador spoke about the growth of trade with Singapore

The trade turnover between Russia and Singapore has increased by 81% since 2022 and amounted to $4.5 billion in 2024, Russian Ambassador to Singapore Nikolai Kudashev told Izvestia. The main driver of the increase in trade volumes was the growth of Russian exports by 90%.

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"We see prospects and interest from local organizations in developing cooperation in the fields of finance (including digital financial assets), robotics, additive and information technologies, and cybersecurity. Food supplies are a promising area, as 95% of the food consumed here is imported. For example, we are working on the admission of Russian meat products to the Singapore market, including the mutual recognition of certificates for halal products," Kudashev told Izvestia.

Russian companies regularly conduct business missions in Singapore, and local business circles actively participate in negotiations with Russian business structures, the diplomat stressed.

Singapore has joined the anti-Russian sanctions, in contrast to the more balanced approach followed by other ASEAN members. In particular, in 2022, the country banned its financial institutions from conducting transactions and establishing business relationships with four Russian banks. In response, Moscow added Singapore to the list of unfriendly states.

Read more in the exclusive Izvestia article:

Sanctions relief: Russian meat supplies may start in Singapore