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November 19, 2009 (LPAC) — Russian President Dmitry Medvedev stayed in Singapore after the APEC Summit for a bilateral state visit on Nov. 16, along with the large business delegation that had accompanied him. In a series of meetings, Medvedev set up Russian investment objectives in the region, calling Singapore the "gateway to the Asia-Pacific," while also inviting Singapore to invest in the development of the Russian Far East. "If we do not change the paradigm of our thinking," said Medvedev, according to Interfax, "we will remain a resource appendix for many other countries, which is unacceptable in the 21st Century. We very much count on investment and help with technology from our colleagues in Singapore."

Medvedev and Singapore Prime Minister Lee Hsien Loong signed a statement announcing the establishment of an intergovernmental commission to promote cooperation between the two countries. Included are the possibility that Gazprom will replace BP as the primary supplier of LNG to Singapore, and Russian investment will be done through the Singapore state investment fund, Temasek Holdings, which would expand Russian investments in the rest of Southeast Asia.