- April 1, 2023
- Posted by: admin
- Category: Daily News
- Singapore and China have completed substantive negotiations on an upgraded free trade agreement that will boost market access for businesses, a day after the countries announced the upgrading of bilateral ties.
- The countries also signed six agreements on 1 Apr, expanding cooperation in areas ranging from food safety to the arts and biodiversity conservation.
- Both sides also welcomed the conclusion of substantive talks to upgrade the China-Singapore Free Trade Agreement (CSFTA), which will improve market access for businesses from both countries to trade and invest in each other’s markets.
- The six agreements signed on 1 Apr included one on food security, with China and Singapore agreeing to exchange information on food safety regulations and to boost cooperation in food trade.
- The two countries also inked MOUs on the management of international commercial disputes for the Belt and Road Initiative, and water and environmental research. Agreements were also signed to foster cultural and artistic exchanges and to work together on biodiversity conversation.
- A seventh agreement on strengthening Singapore-Beijing cooperation and people-to-people exchanges was signed on 31 Mar by Singapore’s ambassador to China Lui Tuck Yew and Beijing mayor Yin Yong.