Growing trade prompts Singapore to visit Jiangsu province

SINGAPORE is taking a 50-strong delegation to Nantong, Jiangsu province, to discuss growing trade of US$6.17 billion, a 25.5 per cent increase in the same period of January to August, with the fastest growing coastal city in north Jiangsu and the Yangtze River Delta (YRD) region.

Last year Singapore's exports to Jiangsu amounted to US$2.7 billion while Singapore's imports from Jiangsu reached $3.5 billion, numbering Singapore as Jiangsu's ninth largest trading partner and largest foreign investor, according to a report from its department of Foreign Trade and Economic Cooperation.

Minister Khaw Boon Wan and Minister of State Lee Yi Shyan will lead the trip from October 21-22 which comprises of 38 companies spanning industries such as environmental services, urban infrastructure, transport and logistics, education services, financial services and also includes members of the Enterprise 50 Association.

The group will include Sam Tan, parliamentary secretary for Trade, Industry and Information, Communications and the Arts, as well as officials from the Ministry of Trade and Industry, Ministry of Education, Consulate-General of Singapore in Shanghai, IE Singapore, Building & Construction Authority, Economic Development Board, Infocomm Development Authority and Singapore Tourism Board.

The meeting will review the Council's initiatives and achievements over the past three years since it was established in November 2007. At the same time, the two deputy co-chairmen will sign a Memorandum of Understanding (MOU) to extend the Council for another three years and to widen and deepen bilateral economic cooperation, especially for Singapore companies to explore opportunities beyond the traditional cities in south Jiangsu. During the council meeting, several other MOU/agreement signings involving IE Singapore, the municipal government authorities, Singapore-based companies and their business partners will be inked.

The delegation will visit the Suzhou-Nantong High Tech Park on October 22 where groundbreaking ceremonies of 10 projects will take place. During the mission, Minister Khaw and MOS Lee will call on Jiangsu Party Secretary Liang Baohua, Vice Governor Zhang Weiguo and key municipal leaders of Nantong.

Prior to Nantong, MOS Lee will officiate at the YCH DistriPark in Shanghai Yangshan Free Port followed by Minister Khaw and MOS Lee opening of the Singapore Chinese Chamber of Commerce and Industry's (SCCCI) first overseas representative office set-up in Shanghai.

The trip is supported by the International Enterprise (IE) Singapore in conjunction with the fourth Singapore-Jiangsu Cooperation Council (SJCC) which will meet on the final day of the trip.
(Source:www.schednet.com)