Current Affairs - National - Discussion

Singapore and China have inked Memorandum of Understanding (MOU) to promote greater collaboration between companies from both countries in third-party markets along China's ambitious Belt and Road routes. The MoU will see the formation of a working group between Singapore's Ministry of Trade and Industry (MTI), China's National Development and Reform Commission and Enterprise. The working group will identify sectors and markets of mutual interest, organise business-matching activities and forums to facilitate third-party market cooperation between Singapore and Chinese companies under Belt and Road Initiative (BRI). Under it, both countries will work with commercial and policy banks, insurers and financial institutions to support financing and project structuring needs of third-party market ventures under BRI by companies from both sides.