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China and Singapore to increase bilateral cooperation

China and Singapore to increase bilateral cooperation

(9 April 2018 – Asia) Singapore and China have signed an agreement that paves the way for increased cooperation on the Belt and Road Initiative (BRI).

Both countries will work with other organisations to support businesses’ financing and project structuring needs in third countries.

Under the new agreement, Singapore’s Ministry of Trade and Industry (MTI), China’s National Development and Reform Commission (NDRC) and Enterprise Singapore will identify sectors and markets of mutual interest and organise activities to promote cooperation between companies from both sides.

The cooperation between the two countries includes infrastructural and financial connectivity, and third-country collaboration, including joint training for officials from Belt and Road countries.

Singapore Prime Minister Lee Hsien Loong and Chinese Premier Li Keqiang both witnessed the signing and described their countries’ cooperation under the BRI as “a new highlight in our bilateral cooperation.”

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