Singapore is cited as Hong Kong's rival in the race to become Asia's financial hub for the 21st century but the Commissioner for Singapore, See Chak Mun, prefers to focus on the similarities of the two cities and the potential for a lasting partnership.
'We share the same historic links,' he said. 'Both were British colonies and major trading posts in the Far East. We are both international financial centres and catalysts for regional growth. While Hong Kong serves North Asia, Singapore serves South Asia and the Pacific.
'Obviously, we do compete to attract regional headquarters for companies and fund managers.' Competition also exists between the two ports. However, Mr See said the two economies could learn from each other and co-operate more closely.
'We have very much in common, right down to our cultures, with large ethnic Chinese populations.' Singapore was looking for a long-term relationship with Hong Kong, he said.
This partnership could be developed in several ways, he said.
The two cities had shared their experiences with traffic control, port management, mass transit railway operations, public housing and education.
