Singapore delegation gears up for CIIE
Singapore Business Federation (SBF) will lead a delegation of over 300 senior business representatives from 84 Singaporean enterprises to the second China International Import Expo (CIIE), which will take place Nov 5-10 in Shanghai.
The Singaporean companies will showcase their latest products in trade-in services, food and agriculture, as well as science and technology, in an exhibition area that’s expanded 12 percent from a year earlier to 1,600 square meters.
SBF on Nov 6 will host a discussion session with Singapore’s Minister for Trade and Industry Chan Chun Sing on better facilitating bilateral trade.
Leading companies including DBS Bank, United Overseas Bank, Pacific International Lines, Singapore Airlines and OSIM will have a presence at the show.
SBF chairman S.S.Teo said Singaporean participants at the first CIIE signed 15 memoranda of understanding valued at more than SG$152 million ($110 million).
“This year, I am heartened to see even more Singapore companies showcase their innovative products and services and deepen their network and collaboration with China and the world,” he said.
Singapore and China’s bilateral trade relations deepened with the upgrade of the China-Singapore Free Trade Agreement, which was concluded in November 2018, providing opportunities for deepened collaboration in finance, e-commerce, technology, culture, law and the environment.
Bilateral trade in goods between the two countries reached SG$135 billion in 2018.
Singapore has also become China’s second-largest foreign investment destination, as China’s non-financial direct investment in Singapore grew by 11 percent in 2018, totaling $3.55 billion.