Singapore and China start talks on Free Trade Agreement

Singapore and China start talks on Free Trade Agreement

By S Ramesh, Channel NewsAsia | 26 October 2006

China and Singapore have held the first round of talks in Beijing on the China-Singapore Free Trade Agreement.

Singapore’s Trade and Industry Ministry says the talks covered the negotiating mechanism and the scope of the agreement.

When concluded, the FTA will be a comprehensive one, extending beyond trade in goods, services and investment.

The agreement will also include cooperation initiatives in various areas.

Singapore is confident the FTA will further enhance the strong bilateral links, and contribute to the development of the ASEAN-China Free Trade Area.

So both sides hope to conclude negotiations as expeditiously as possible.

Both countries agreed to launch the negotiations at the Third Joint Council for Bilateral Cooperation Meeting in August this year, attended by Singapore’s Deputy Prime Minister Wong Kan Seng and Chinese Vice-Premier Wu Yi.

China and Singapore enjoy excellent bilateral ties.

Singapore is China’s sixth largest foreign investor.

Last year, two-way trade totalled S$67.1 billion. - CNA/ch

source : Channel News Asia

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