In 2023, the bilateral trade between Singapore and China reached 167 billion Singapore dollars ($124.24 billion), with China maintaining its position as Singapore's largest trading partner for the 11th consecutive year.

According to Kok Ping Soon, chief executive officer of the Singapore Business Federation, this success can be attributed to the elevation of bilateral relations to an all-round high-quality future-oriented partnership. With closer ties and the upgraded China-Singapore Free Trade Agreement, opportunities for cooperation are set to expand, particularly in emerging areas such as digital economy and sustainable development.

Kok, who assumed his current position in June 2023, led a business delegation comprising 56 Singaporean companies to participate in the sixth China International Import Expo last November. During the expo, twice as many memoranda of cooperation as the fifth CIIE were signed by SBF.

Source: Knews