Regional Economic Service
The Regional Economic Service of the French Embassy in Singapore is part of the international network of the French Treasury (depending of the Ministry of Economy, Economic Recovery and Digital sector, and the Ministry of Finance and Public Accounts). Under the authority of the Ambassador, its mission is :
To co-ordinate regional teams in ASEAN (7 Economic Services covering 10 countries, as well as Timor-Leste) ;
To analyze the macro-economic and financial situation in Singapore and in ASEAN, and to deal with multilateral issues (trade, investments, G20 issues, free-trade agreements between ASEAN countries and the European Union). With over 550 million people, ASEAN countries are characterized by a strong heterogeneity with advanced economies (Singapore, Brunei), emerging countries (Indonesia, Thailand, Malaysia, Philippines) and developing countries (Vietnam, Cambodia, Laos, Burma). Although the ties between ASEAN and the rest of Asia are very strong, it is still heavily dependent on G3 countries’ demand (United States, Europe, and Japan) ;
To review agricultural and trade policies, transport, energy and environment issues, as well as all public policies relevant to French companies. Infrastructure needs in the region, valued at 1150 billion of USD over the next decade by the World Bank, offer a wide range of opportunities for French firms ; Since late 2009, The European Union has also opened negotiations with several countries in the region (Singapore, Malaysia, while waiting on Thailand, Indonesia and Vietnam) to conclude free-trade agreements. This would allow French groups to strengthen their position in very high-growth markets. The department in charge of the sectorial level supports French exporters by ensuring the link local authorities ;
To organize and coordinate bilateral economic official missions and defend the French offer in terms of investment. The Regional Economic Service is involved in preparing and assisting ministerial visits. It also advises on French public funding. It is the voice of French administrations on major macro-economic and financial issues (G20, fight against protectionism, development aid ...). It also represents locally the Invest in France Agency (IFA), responsible for attracting major investors in the region to France.
The Regional Economic Service is managed by Mr Antoine Chery. He ensures the coordination of the French Treasury network within the ASEAN region (Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, Vietnam, and additionally East Timor). Also, he leads the regional office of the Invest in France Agency (IFA) which promotes the attractiveness of French territory.