Singapore and eastern China's Jiangsu province have increased their
bilateral ties by signing 20agreements worth about US$2.03 billionand
identifying economic cooperation areas yesterday.
Among the 20 agreements signed on the sidelines of the second
Singapore-Jiangsu Cooperation Council meeting is a landmark memorandum of
understanding (MOU) by both sides to support a commercially-driven project by a
Singapore consortium to develop an eco high-tech city in Nanjing, the capital of
Jiangsu province.
Both sides agreed to deepen bilateral economic cooperation in key areas of
business process outsourcing, logistics and environmental services among others.
As the top recipient of Singapore's foreign direct investments among the
provinces in China, Jiangsu has enjoyed close bilateral economic relations with
Singapore since the early years.
Singapore has invested 3,150 projects and a total paid-in capital of about 14
billion U.S. dollars in Jiangsu. This year, the trade between Singapore and
Jiangsu will exceed 10 billion U.S. dollars.
