On November 13, Singapore Business Federation (SBF) and China Council for the Promotion of International Trade (CCPIT) renewed their Memorandum of Understanding (MOU) to intensify co-operation and partnership at the Singapore-China Trade and Investment Forum held in Singapore. (Photo: Singapore business federation)

Singapore–Singapore business community and a senior business delegation led by China Council for the Promotion of International Trade (CCPIT) exchanged views and shared insights on cooperation under the Belt and Road Initiative at the Singapore-China Trade and Investment Forum held today ( November 13) in Singapore.

Co-organized by Singapore Business Federation (SBF) and CCPIT, with the support of Singapore Chinese Chamber of Commerce & Industry, Business China, Chinese Enterprises Association and Singapore China Business Association, the forum attracted more than 200 entrepreneurs from China and Singapore.

Important topics, including trade and investment opportunities through enhanced partnership and cooperation, Singapore as an internationalization hub for Chinese Companies, as well as investment and financing opportunities under the Belt and Road Initiative were shared by experts and speakers from both Singapore and China government agencies and business communities.

“Intensifying business collaboration and project partnership with the Chinese enterprises to develop infrastructure along the Belt and Road countries are crucial for Singapore enterprises that focus on internationalization as the key strategy to sustain their businesses in a volatile economy”, said Mr S.S. Teo, the Chairman of SBF in his welcome speech during the forum.

“Together with SBF, CCPIT is committed to co-build a pragmatic platform to enhance cooperation between the business communities of the two countries in all fields,” said Mr Jiang Zengwei, Chairman of CCPIT, adding that the two sides wish to make a significant contribution to infrastructure development under the Belt and Road Initiative.

Together with the high level business delegation are members of Singapore-China Business Council (SCBC) established by SBF and CCPIT in 2016 to strengthen business relations and trade between Singapore and China. The first SCBC meeting held prior to the Singapore-China Trade and Investment Forum, marked a dynamic phase of closer Singapore and China collaboration to map strategies, particularly in relation to working as catalysts and partners in the Belt and Road Initiative.

“Positioned as the gateway to ASEAN markets, our Chinese counterparts recognize the importance of partnering Singapore enterprises to intensify the progress of the BRI initiative. The multiplying benefits to key stakeholders involved in projects under development will boost economic and social growth in the region”, added MrTeo.

The Forum is part of SBF’s activities under the Belt & Road Initiative (BRI), in support of the BRI Connect Platform – an online and offline portal positioned as an aggregator and catalyst for infrastructure development driven by BRI. BRI Connect is expected to benefit Singapore professional service providers whose core competencies will greatly benefit key stakeholders involved in current or new projects.