Singapore's Minister for National Development and Second Minister for Finance Lawrence Wong said that Singapore stands ready to partner China to jointly build the Belt and Road Initiative.
Wong told the Singapore Regional Business Forum that Singapore and China have agreed to carry on cooperation in three areas for the building of the Belt and Road - infrastructure connectivity, financing of Belt and Road projects, and cooperation of companies of the two sides for doing projects in third countries.
Both sides are now working to jointly develop the CCI Southern Transport Corridor that will link western China to Southeast Asia through Chongqing, a municipality in western China and Singapore, and connect the overland Silk Road Economic Belt with the 21st Century Maritime Silk Road.
The corridor is expected to offer a shorter and more direct trade route between western China and Southeast Asia, and will lower logistics costs, enhance cross-border trade flows, and catalyze the economic development of both regions, in particular the provinces along the corridor, said the minister.
He said Singaporean companies are natural partners for Chinese companies in expanding to the region, as Singaporean companies have good market knowledge of Southeast Asia and can do engineering design and master-planning, project management, financing, logistics and servicing. (Source: China Daily)
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