The Singapore-China Economic Partnership Conference on February 1, 2024, saw the signing of three MOUs to boost trade and investment ties, attended by government officials and business leaders.
Signing of Crucial MOUs at Singapore-China Economic Partnership Conference
The Singapore-China Economic Partnership Conference held on February 1, 2024, saw the signing of three crucial Memorandums of Understanding (MOUs), signaling a significant step towards boosting trade and investment ties between the two countries.
Present at the conference were Ms. Low Yen Ling, Minister of State for Trade and Industry and Culture, Community, and Youth, and Mr. Zong Changqing, Minister Counsellor (Economic & Commercial Office) from the Embassy of The People’s Republic of China in Singapore. The gathering attracted around 200 business leaders and government officials.
Key Discussion Points and Agreements
During the event, three Memorandums of Understanding (MOUs) were signed to enhance business relationships, strengthen intellectual property protection, and support business mediation and arbitration. These agreements mark a significant step forward in enhancing the economic relationship between Singapore and China, aimed at enhancing business relationships. Additionally to the MOUs, a Letter of Intent was signed between China International Exhibition Center Group Co., Ltd and participating companies in the 2nd China International Supply Chain Expo scheduled for November 26 to 30, 2024.
Trade and Economic Relationship
Singapore stands as China’s 9th largest trading partner, while China holds the position of Singapore’s 3rd largest trading partner. This accounted for 10.1 percent of Singapore’s total external trade in 2023.
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