SINGAPORE - Every nation has a special role in Asean and Singapore can play the "modest role" of reinforcing Asean's image as a sustainable economic entity by being a home base for Asian economic research, Finance Minister Heng Swee Keat said on Thursday (Nov 26).

"I hope that over time Singapore can be a trusted port of call for Asian economic research," he said. "With trust, we can weave stronger long term relationships."

He was speaking at the opening of the Asia Competitiveness Institute's annual conference held over two days at the Marina Mandarin.

During the conference, Mr Heng also launched seven books written by the Institute's researchers and witnessed the signing of six memoranda of understandings for research collaborations between various think-tanks in the region.

Mr Heng said: "Knowledge is the basis of the new economy and I trust that this conference will set the groundwork for greater knowledge sharing and for creating a better life for all our people."