Singapore Business Federation and China Council for the Promotion of International Trade renews Memorandum of Understanding to strength cooperation at the Singapore-China Trade and Investment Forum held in Singapore on Nov 13. (Photo: People's Daily)

Singapore (People's Daily)–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 on 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, how Singapore can become an internationalization hub for Chinese companies, as well as investment and financing opportunities under the Belt and Road Initiative have been 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 under the Belt and Road initiative are crucial for Singapore enterprises, as they focus on internationalization as the key strategy to sustain their businesses in a volatile economy,” said S.S. Teo, the chairman of SBF 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.

In addition to the high level business delegation, members of Singapore-China Business Council (SCBC), which was established by SBF and CCPIT in 2016 to strengthen business relations and trade between Singapore and China, also participated in the meeting.

"Positioned as the gateway to ASEAN markets, our Chinese counterparts recognize the importance of partnering Singapore enterprises to intensify the progress of the Belt and Road initiative. The multiplying benefits to key stakeholders involved in projects will boost economic and social growth in the region", added Teo.