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07 Nov 2018, Aleen Joy Jarasa, EMIS Editor

Singapore and China agree to improve free trade pact

China and Singapore have recently concluded negotiations to improve the China-Singapore Free Trade Agreement, which highlights the two countries’ shared commitment to improve economic collaboration and bilateral relations. The proportion of services and experiences in the upgraded China-Singapore FTA is expected to increase, China Daily has noted referring to a Chinese official’s statement.

The Belt and Road Initiative also contributed to the two countries’ improved relationship. Industry players say the collaboration will bring out the strengths of the two countries, which will eventually enable them to invest in other countries as well.

For five consecutive years, Singapore has been China’s biggest source of foreign investment. Meanwhile, a third of China’s investments abroad has gone through Singapore to reach other countries for projects, China Daily has added.

Sign in and read the full article in emis.com, or find out more about EMIS. Original source: China Daily