[PT] Email to Singapore

[Bruno]

SECRET

To: Singaporean Head of State or Government AsianSchnitzel
Subject: Portuguese-Singapore investment plan

Firstly I would like to congratulate Singapore entry into world affairs, in the past Portugal and Singapore shared ties of mutual friendship and collaboration, we hope to continue this relationship and rekindle it under new circumstances. I am honored to present to you a proposal on behalf of the Republic of Portugal, which I believe holds significant promise for the mutual benefit of our two nations.

Portugal, as a nation deeply rooted in maritime history and commerce, recognizes the pivotal role that robust port infrastructure plays in facilitating global trade and economic growth. In this vein, we are eager to explore avenues for collaboration with Singapore, a nation renowned for its strategic position as a maritime hub in the Asia-Pacific region.

Our proposal entails an investment of up to $30,000,000 USD towards the enhancement and expansion of port facilities in Jurong Port. This investment will be directed towards modernizing port infrastructure, optimizing cargo handling processes, and bolstering overall operational efficiency.

In return for our investment, Portugal seeks to acquire a 15% ownership stake in the designated port facilities and land. This ownership stake underlines our commitment to the long-term success and prosperity of the port, as well as our desire to cultivate a partnership based on shared goals and mutual benefit. Furthermore, we are open to the possibility of increasing our investment and ownership stake over time, subject to bilateral agreement and the evolving needs of our partnership.

Should Singapore choose to accept our proposal and grant Portugal the 15% ownership stake, our investment will be provided at no cost to Singapore. However, in the event that Singapore prefers an alternative arrangement, Portugal is prepared to extend the investment as a loan, with an 5% annual interest rate and monthly payments from Singapore for 1 (IC) Year.

In summary, Portugal's proposal offers Singapore the opportunity to leverage Western investment to enhance its port infrastructure, thereby fortifying its position as a leading maritime hub in the region. We believe that this partnership holds immense potential for driving economic growth, fostering innovation, and deepening bilateral ties between our nations.

I eagerly await your response and stand ready to engage in further discussions to explore the details of this proposal and chart a path forward that is mutually beneficial.

Thank you for your cooperation and patience.

President of the Portuguese Republic,
Antonio Guterres,

 

[AsianSchnitzel]

Status: Classified | ISD Protected (Internal Security Department)

To: Portuguese Head of State or Government Bruno
Subject: Portuguese-Singapore investment plan


We welcome Portugal's warm greetings to Singapore, we fully appreciate Portugal's contribution to the world and to Singapore, As a maritime nation we are always glad to cooperate and further strengthen bilateral relations, especially economic relations with fellow maritime counterparts, we do feel this is the right direction to ensure Singapore footprint is not limited to our region but will also impact global economies especially in Europe where Singapore is always keen on making positive interactions.

In regards to Jurong Port, one of Singapore's major ports, we feel that this opportunity is an opportunity we would like to take, by agreeing on a 15 percent ownership, it is quite fair for both sides that Portugal has a limited stake on its investments and ensuring that investments are profitable is always a good sign for both economies.

To increase incentives for our government we like to offer a proposal from our side as well, in addition to your said offer we would like Portugal to decrease tariffs on Singaporean goods in Portugal, such goods may include but not limited to Integrated circuits, Gas turbines, and Packaged Medicaments, we would also sneak in a visa free status between our two nations to amplify tourism in Portugal and Singapore.

To summarize it all, we would go through with your proposal of 15 percent ownership stake via a Portuguese investment to modernize and expand Jurong Port's operational capabilities if Portugal is to decrease tariffs on Singaporean goods, and lastly if Portugal is also willing to implement a Visa Free status with Singapore, which will benefit the tourism industry of both nations.

If the other party is to make a counter offer then please we ask you to not hold back for we are open to discuss such matters no matter how long it takes.

His Excellency, Mr. Kuan Yue Shi
President of the Republic of Singapore

 

[Bruno]

Office of the President
Republic of Portugal
Secret and Encrypted

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To: His Excellency
Mr. Kuan Yue Shi
President of the Republic of Singapore AsianSchnitzel

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Your Excellency President Kuan Yue Shi,
I extend my sincere gratitude for Singapore's warm reception of our proposal and for the constructive proposals put forth. It is heartening to witness the shared commitment between our nations towards bolstering economic cooperation and fostering bilateral relations. We wholeheartedly accept Singapore's proposal to proceed with a 15 percent ownership stake in Jurong Port. This mutually beneficial arrangement aligns with our vision of leveraging maritime opportunities for both our nations' economic advancement.

In response to Singapore's additional proposals, Portugal acknowledges the significance of reciprocal actions to deepen economic ties. Therefore, we agree to decrease tariffs on Singaporean goods imported into Portugal, particularly integrated circuits, gas turbines, and packaged medicament. This commitment reflects our dedication to promoting fair trade practices and facilitating the flow of goods between our nations. Furthermore, Portugal is cognizant of the security concerns associated with total visa-free arrangements. As such, while a total free visa may not be feasible at all times, we propose implementing a Travel Authorization system for a maximum of 2 months for tourism purposes. This would serve as a practical alternative to facilitate visa-free travel while addressing security considerations of both our nations.

In addition, Portugal suggests that Singapore also decrease tariffs on Portuguese exports to Singapore, specifically Machinery and mechanical appliances, vehicles, electrical machinery and equipment, plastics and plastic articles, and mineral fuels and oils. This reciprocal measure would further enhance trade relations and contribute to the economic growth of both nations. Moreover, Portugal underscores the importance of fair competition and ethical business practices. Therefore, we will implement regulations to uphold human rights, worker regulations, and prohibit practices such as slave labor. These measures aim to protect both our nations' economies and ensure a level playing field for businesses with responsible and sustainable pratices.

In summary, Portugal eagerly commits to the investment in Jurong Port and the proposed measures outlined in Singapore's proposal. We believe that these initiatives will not only enhance economic cooperation but also reinforce our shared commitment to ethical and sustainable development.

Should Singapore have any further suggestions or modifications to propose, we remain open to constructive dialogue and collaboration. Together, we can chart a course towards prosperity and mutual benefit!

Best regards,
President António Guterres
President of the Portuguese Republic