Britain said on Wednesday it had agreed a partnership for financial services with Singapore as a part of its push for post-Brexit trade and investment deals.
“Our financial partnership will help increase investment and trade with Singapore and therefore the Asia-Pacific region and boost collaboration on important areas like fintech and green finance,” British minister of finance Rishi Sunak said.
The agreement includes a memorandum of understanding which seeks to scale back burdens for firms operating in British and Singapore markets by recognising that their financial services regulatory regimes achieve an equivalent outcomes.
An MoU on cybersecurity was also a part of the agreement which was struck by Sunak and therefore the chairman of the Monetary Authority of Singapore, Tharman Shanmugaratnam, Britain’s finance ministry said.
