THE Philippines and Singapore would explore more avenues of cooperation, President Ferdinand Marcos Jr. said on Friday.

"I am delighted that both our nations are aligned in our hopes and vision as neighbors in Southeast Asia," Marcos posted on social media following his meeting with Singaporean President Tharman Shanmugaratnam.

"The Philippines and Singapore will explore more possibilities in economic collaboration, health care and sustainable development," he added.

The Singaporean leader arrived in Manila on Thursday for a three-day state visit.

PCO Photo

Marcos expressed elation on how Filipinos thrive in Singapore.

On Thursday, the Philippines and Singapore signed a memorandum of understanding on the recruitment of health care workers and collaboration on carbon credits under Article 6 of the Paris Agreement.

Marcos said he hopes both countries could incentivize industries and individuals to reduce their carbon footprints while allowing the government to boost fiscal space.

He added that the two nations were seeking to ensure that a balance was achieved between meeting the needs of the health care sector and the personal development of health care workers.

"Through this memorandum of understanding, we express our confidence in Singapore's legal and judicial system, which will ensure that the rights, welfare, and well-being of our kababayan OFWs (overseas Filipino workers) will be protected as they pursue their careers in Singapore," Marcos said.

The President expressed optimism that the Philippines and Singapore would forge new agreements on health and maritime security.

"Memoranda of agreement in the fields of health and maritime security are already in the pipeline and are anticipated [to be] finalized in the very near future," he added.

Shanmugaratnam said Singapore was eyeing closer cooperation with the Philippines in various areas, including health care, infrastructure and environment.

"So, I think we are making fine progress. It's a phase of our relationship that shouldn't be business as normal, incremental change after its meeting, but we want to take it on a new trajectory. Under your leadership, I'm confident we will be able to achieve that," Shanmugaratnam said during his meeting with Marcos.

The Philippines and Singapore established diplomatic relations on May 16, 1969.

In May, the President visited the city-state to participate in the International Institute for Strategic Studies Shangri-La Dialogue.

Marcos attended the Milken Institute Asia Summit in Singapore on Sept. 13–17, 2023. The President also had a state visit to Singapore on Sept. 6–7, 2022.

Last year, the country's total trade with Singapore reached $10.62 billion, with $3.53 billion in exports and $7.09 billion in imports.

In the same year, Singapore ranked as the Philippines' 8th largest trading partner, 6th export destination (out of 205) and 7th import supplier (out of 221).

Also in 2023, approved investments from Singapore reached $674.4 million.

There are currently 250,000 overseas OFWs in Singapore.