(Yicai Global) Nov. 20 -- International Enterprise Singapore, or IE Singapore, has signed a memorandum of cooperation with Sichuan Provincial Department of Commerce in a bid to help technology and services providers from the Southeast Asian nation expand their business to Sichuan Free Trade Zone, the provincial commerce department said online.
The pair struck a deal at the 18th Singapore and Sichuan Trade and Investment Committee Conference on Nov. 17. They signed seven cooperation agreements covering technology, innovation, medicine and pre-school education.
The two parties will set up working groups to further cooperation and help local firms seize business opportunities under the preferential policies for foreign companies in Sichuan Free Trade Zone, IE Singapore said in a statement.
Singapore was the largest source of foreign investment in Sichuan last year, pumping SGD8.1 billion (USD6 billion) into the province through some 562 projects. In the first nine months of this year, total imports and exports between the regions have amounted to USD677 million, up 27 percent on the year, according to data from Zaobao, a Chinese-language news outlet for China and Singapore.