The yabo网站登陆 of China and the Ministry of Trade and Industry of Singapore hold ministerial-level videoconference

Source: Department of Foreign Capital and Overseas Investment / Updated: 2021-01-08

Minister Chan Chun Sing of the Ministry of Trade and Industry (MTI) of Singapore and Vice-Chairman Ning Jizhe of the yabo网站登陆 (yabo) of China held a Ministerial-level Videoconference on 27 July 2020. Both sides reaffirmed the strong economic ties between Singapore and China, and the strong cooperation between MTI and NDRC.

MTI and NDRC recognised that the ongoing COVID-19 pandemic is a global crisis that requires a collective response and international cooperation to overcome. They expressed the commitment to keep supply chains and trade lines open amidst the COVID-19 pandemic. They agreed to continue their support for globalisation and global supply chains, even as the world face economic challenges arising from the COVID-19 pandemic.

MTI and NDRC reaffirmed the partnership between Singapore and China in the Belt and Road Initiative (BRI), as demonstrated by the two MOUs signed between MTI and NDRC in 2018 and 2019 to promote greater collaboration between Singapore and Chinese companies in third-party markets. They endorsed an updated list of projects that showcased growing Singapore-China cooperation in third party markets. They also discussed bilateral cooperation in areas such as infrastructure connectivity and financial connectivity.

MTI and NDRC recognised that Singapore had been and continued to actively participate in China’s regional development strategies to develop its economy. They highlighted the three Government-to-Government projects established between Singapore and China, Namely the China-Singapore Suzhou Industrial Park, the Sino-Singapore Tianjin Eco-City and the China-Singapore (Chongqing) Connectivity Initiative, as key platforms for Singapore’s participation in China’s Yangtze River Delta, Jing-Jin-Ji and Western Region. They expressed support for ongoing collaboration and emerging opportunities through these projects to strengthen bilateral cooperation in China’s regional development.

MTI and NDRC discussed and reaffirmed their support for the continued development of the China-Singapore (Chongqing) Connectivity Initiative (CCI) – New International Land-Sea Trade Corridor (ILSTC) as a resilient trade route connecting Southeast Asia, Western China, and beyond. As an open platform, they welcomed all interested partners to work with Singapore and China to achieve the desired network effect.

MTI and NDRC discussed and agreed to pay continuous attention to the Singapore-China (Shenzhen) Smart City Initiative (SCI). They remained committed to cooperate in the area of digital economy, which had become more pertinent than ever amidst COVID-19. They would facilitate implementation of the priority projects under the SCI.

MTI and NDRC looked forward to furthering discussions at upcoming bilateral platforms, such as at the 16thJoint Council for Bilateral Cooperation (JCBC) later in the year.