Mexico and Singapore established diplomatic relations on December 22, 1975. Since then, bilateral relations have been productive due to the compatibility and complementarity of their respective national interests.
The Mexican embassy in Singapore was established in January 1990. However, Singapore has no embassy in Mexico and conducts the relationship through a Nonresident Embassy scheme from Singapore.
Singapore provides Mexico with a window of opportunity to gain a foothold in Southeast Asia, due to its leading position as a financial and business center, and in the area of information technology.
Mexico is one of Singapore’s major trading partners in Latin America, and provides opportunities with great potential due to its strong, stable economic development and commercial capacity.
Links between Mexico and Singapore could reach higher levels if their true potential were leveraged. In recent years, the work of leaders in both countries has been to promote bilateral ties through better mutual understanding.
In 2013, President Enrique Peña Nieto toured Indonesia and attended a bilateral meeting with President of Singapore, Tony Tan Keng Yam, who arrives in Mexico today on a state visit.
1. In 2015, Singapore was Mexico’s 26th trading partner worldwide and its 10th largest trading partner in Asia-Pacific. During the first three years of this six-year period (2013 to December 2015), accumulated bilateral trade between Mexico and Singapore stood at $ 5.612 billion USD.
2. In 2015, bilateral trade ($1.8508 billion USD) increased by 7% over 2014 ($1.729 billion USD). Exports ($522.5 million USD) decreased by 1.2% in relation to 2014 ($529.1 billion dollars), while imports ($ 1328.2 million dollars) rose by 10.7% in comparison with 2014 ($1.1999 million USD). It should be noted that trade with Singapore has yet to return to pre-financial crisis levels ($2.4228 billion USD in 2007).
3. Singapore is the third largest investor in Mexico among the Asia-Pacific countries and the 19th largest worldwide. Between January 1999 and March 2016, companies with Singaporean capital invested $1.7077 billion USD.
4. Educational and cultural cooperation are achieved through information sharing for the development of joint research projects in areas such as visual arts, exhibitions, music, dance, theater, literature and cultural exchanges between universities.
5. Technical and scientific cooperation have involved exchange and cooperation in the academic field as well as the use of short courses Singapore offers as part of its Development Cooperation Program.
Facts Sheet Official name: Republic of Singapore Total area: 717 km2. It consists of one main island and 63 smaller islands.
Population: 5.5 million inhabitants Capital: Singapore The official languages are: English, Malay, Mandarin and Tamil.
Currency: Singapore dollar Religion: Buddhism (42.5%), Islam (14.9%), Christianity (9.8%), Taoism (8.5%), Catholicism (4.8%), Hinduism (4%).
- 2015 GDP: $292.7 billion USD
- GDP% real growth: 2% GDP per capita PPP: US $85,253.2
- Inflation rate: -0.7%
- Unemployment rate: 1.9%
- Current account balance: $61.2 billion USD
- Total exports (goods): $350.5 billion USD
- Total exports (goods): $296.7 billion USD
- Foreign currency and gold reserves: $262 billion USD
- Dollar exchange rate: 1.35 Singapore dollars per US dollar