Singapore's business delegation to visit Jiangsu, China

Date : 2013-10-29  | From : Xinhua

A Singapore's business delegation comprising 60-strong members is scheduled to visit the cities of Nanjing, Xuzhou and Nantong in Jiangsu Province from Monday to Thursday, the city-state's trade promotion agency International Enterprise Singapore (IE Singapore) said on Monday.

The delegation will be led by Education Minister Heng Swee Keat and Minister of State for Trade and Industry Teo Ser Luck, covering companies from a wide range of sectors, including finance, education, logistics, environmental and infrastructure solutions.

The business mission will be held in conjunction with the seventh Singapore-Jiangsu Cooperation Council (SJCC) meeting in Xuzhou city.

According to the IE Singapore, the council will review collaboration initiatives in the past year, as well as cooperation areas for the coming year. "Several Memoranda of Understanding for projects will be signed during the meeting, including the renewal of the SJCC cooperation framework for another three years," the IE Singapore added.

The delegation is scheduled to visit Xuzhou city, which was one of the "less-trodden northern Jiangsu cities". The IE Singapore said Xuzhou ranked first within Jiangsu Province for three consecutive years in terms of GDP growth. In 2012, Xuzhou's GDP increased 13.2 percent, reaching 81.8 billion Singapore dollars ( 66.2 billion U.S. dollars), ranking 5th in the province.

The agency said business opportunities in the Xuzhou city are mainly in areas like mixed-use development, transport logistics and elderly care.

On Tuesday, Teo will attend an internationalization seminar in Nanjing. The seminar is scheduled to discuss how "Singapore can partner Jiangsu enterprises in their internationalization and third-country collaborations".

Singapore representing the third largest foreign investor in Jiangsu Province, with actual investments there reaching 2.1 billion U.S. dollars. Bilateral trade increased 7.6 percent to hit 12.7 billion U.S. dollars in 2012, ranking Singapore as Jiangsu's tenth largest trading partner.