Singapore making expo connections
Chan Chun Sing, Singapore’s trade and industry minister, highlighted the importance of connectivity and how it needs to go beyond hardware to include finance and technology when he spoke at Wednesday’s Singapore-China Trade and Investment Forum.
Chan also noted that the collaboration between Singapore and China had developed in tandem with China’s integration into the global economy.
"We've seen a lot more foreign faces at the CIIE this year than the first session, which indicates greater interest in foreign businesses in the expo and the Chinese market," Chan said.
At the forum, three memorandums of understanding were signed to boost collaboration between Singaporean and Chinese enterprises in finance, biotechnology and shipping.
Led by the Singapore Business Federation, a delegation of 84 prominent Singaporean companies are participating in this year’s China International Import Expo.
Spanning logistics and transportation, finance and banking, education, health care, food and beverages and high technology sectors, the delegation is showcasing a wider range of innovative, high-quality and reliable products and services this year.
"Singapore’s strong presence and vibrant showcase at this year’s CIIE demonstrates the strengths and value propositions of Singapore and our businesses across diverse sectors," said federation chairman S.S. Teo.
"Besides showcasing Singapore’s quality products and services to China and the world, we also hope to promote greater collaboration between Singaporean and Chinese companies in third-party markets in areas of regional connectivity, finance as well as legal cooperation. We hope to see more MOUs signed and deals made in the days to come," Teo said.
Ho Meng Kit, the federation’s CEO, added: "China has been and continues to be a key market for many of our companies. The growing wealth of Chinese consumers and the rapid development of e-commerce are driving the rise of China’s consumer market. And as Chinese consumers become more discerning, the demand for high-end and quality products is also growing and this spells significant opportunities for our companies."
The forum, hosted by the federation and the Singapore branch of the Bank of China,was attended by nearly 300 representatives of Chinese and Singaporean enterprises.
During the first CIIE, the bank served as a bridge for eight pairs of Singaporean and Chinese enterprises which signed 12 MOUs with the total value exceeding 700 million yuan (US$100 million).
The federation launched a WeChat program on October 31 to help buyers connect easily with Singaporean exhibitors, allowing them to send messages and make appointments.