SINGAPORE: Education Minister Heng Swee Keat and Minister of State for Trade and Industry Teo Ser Luck are leading a 60-strong business delegation to the cities of Nanjing, Xuzhou and Nantong in China’s Jiangsu province, from Monday to Thursday.
Organised by International Enterprise Singapore (IE Singapore), the Singapore secretariat for the Singapore-Jiangsu Cooperation Council (SJCC), the delegation includes companies from a range of sectors, including finance, education, logistics, environmental and infrastructure.
On Wednesday, Mr Heng will co-chair the 7th SJCC meeting with Jiangsu Governor Li Xueyong in Xuzhou.
In a statement on Monday, IE Singapore said the council will review collaboration in the past year and areas for cooperation in the coming year.
Several memoranda of understanding (MOUs) will be up for signing, including the renewal of the SJCC cooperation framework for another three years.
During the trip, the Singapore delegation will visit Xuzhou.
This is in line with the council's efforts to encourage Singapore companies to explore opportunities in the less-trodden northern Jiangsu cities.
IE Singapore said Xuzhou has seen remarkable economic growth, ranking first in Jiangsu province in GDP growth for three consecutive years.
In 2012, Xuzhou's GDP increased 13.2 per cent, reaching S$81.8 billion, and its GDP ranked fifth in the province last year, said the agency.
Business opportunities there include mixed-use development, transport logistics and elderly care.
On Tuesday, Mr Teo will be guest-of-honour at a seminar in Nanjing, organised by the Singapore Chinese Chamber of Commerce and Industry and Jiangsu Chamber of International Commerce.
According to IE Singapore, Singapore's actual investments in Jiangsu increased 1.9 per cent in 2012 from the previous year to reach S$2.6 billion.
That made Singapore the third largest foreign investor in the province.
Bilateral trade increased 7.6 per cent to hit S$15.8 billion in 2012, ranking Singapore as Jiangsu's tenth largest trading partner, said the agency. - CNA/xq
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