Singapore, China Belt and Road Initiative

The Belt and Road Initiative (BRI) Framework will see Singapore and China advancing connectivity, furthering financial cooperation and enhancing training and technology transfer. 

Speaking at a joint press briefing with Chinese counterpart Wang Yi, Foreign Affairs Minister Vivian Balakrishnan said in Beijing on Monday (12 June) that Singapore has always supported the initiative. 

The BRI was launched in 2013 by the Chinese to link Asia, Africa, and Europe through the building of roads, ports, railways, and industrial parks along two ancient trading routes that span over land and via sea.

Dr Balakrishnan said that there remains a lot of work to be done but would eventually be able to allow countries along the two trade routes to integrate their economies and increase opportunities for people and businesses in the region. 

Singapore and China would be making full use of cooperation under the Chongqing Connectivity Initiative to develop a connectivity network across land and sea. 

Leveraging on each other, with Singapore’s strength as a regional financial centre to raise funds for the various BRI projects, both countries will work together to open up third markets in South-east Asia, South Asia and beyond.

Mr Wang said that the BRI would be the biggest highlight of bilateral relations between both countries, and China welcomes Singapore’s support and participation. 

Adding on, Mr Wang shared that Singapore has an important role to play in the BRI due to her strategic location, and that the BRI would enhance bilateral ties and improve the peace and stability of the region. 

Dr Balakrishnan would call on China’s Vice-President Li Yuanchao and State Councillor Yang Jiechi on Monday.

Source: “Singapore, China to work on improving connectivity and cooperation within framework of Belt and Road initiative: Vivian Balakrishnan” (The Straits Times, 13 June 2017)

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