S’pore strengthens cooperation with China on Belt and Road initiative

Romesh Navaratnarajah9 Apr 2018

The Belt and Road Initiative involves the construction of roads, ports, railways and industrial hubs to connect around 65 countries across Asia, Africa and Europe.

Singapore signed an agreement with China on Sunday (8 Apr) to improve cooperation on the latter’s ambitious Belt and Road Initiative (BRI), reported the Straits Times.

Under the memorandum of understanding (MOU), the Ministry of Trade and Industry and Enterprise Singapore will team up with China’s National Development and Reform Commission to identify markets and sectors where both countries are keen to do business and organise activities to promote collaboration between firms from both nations.

More: 5 Things To Know About China’s One Belt One Road

This partnership includes infrastructural and financial connectivity, as well as collaboration in other countries, including joint training for officials from nations involved in BRI. Both governments will also join forces with other organisations to provide financing for businesses and projects in other countries.

The MOU signing held at the Diaoyutai State Guesthouse was witnessed by Chinese Premier Li Keqiang and Prime Minister Lee Hsien Loong on Sunday. The event was held during the first day of PM Lee’s visit to China.

“Singapore’s strength as a key infrastructure, financial and legal hub in the region will add value to Chinese companies expanding along the Belt and Road,” noted Minister for Trade and Industry Lim Hng Kiang.

Announced by Chinese President Xi Jinping in 2013, the BRI involves the construction of roads, ports, railways and industrial hubs to connect around 65 countries across Asia, Africa and Europe that creates a trade network similar to the ancient Silk Road.

For the latest property news, trends, resources and expert opinions, visit our Property News page. Home buyers looking for Singapore Properties may like to visit our ListingsProject Reviews and Guides.


Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg


You may also like these articles

S’pore a key player in China’s Belt and Road plan

China's One Belt One Road initiative is a massive infrastructure development plan that will span from Asia to Europe.The city-state is the most needed market for the successful implementation of China

Continue Reading1 Feb 2018

Chinese cash policy puts the squeeze on ambitious Johor project

The beach at Forest City in Johor, Malaysia. BroNrw/ShutterstockWhat do Beijing's capital outflow controls mean for the future of Forest City?By Steve Finch As the old philosophical question goes: "I

Continue Reading5 Feb 2018

Southeast Asia is still a prime target for Chinese property investors

While their interest in overseas property has largely slumped, investors from the Middle Kingdom remain key to sales strategies in neighbouring markets. By Steve FinchThe flag-waving Chinese tour guid

Continue Reading6 Apr 2018