(Yicai Global) Mar. 5 -- As an important economic and trade partner of China, Singapore is actively planning on taking part in the coming China International Import Expo in Shanghai. Commercial associations and government departments will work together to help local SMEs enter the Chinese and international markets at the Expo.
The Singapore Business Federation, or SBF, has been designated as an organizer of the Expo for the Singapore side, bridging the Singapore government and businesses and coordinating Singapore exhibitors, the website of China International Import Expo said. SBF has booked a fair number of booths at Import Expo and actively liaised with major business associations in Singapore, including Singapore Chinese Chamber of Commerce & Industry, Singapore Manufacturing Federation and Association of Small & Medium Enterprises.
China is the main market for Singaporean enterprises outside the Association of Southeast Asian Nations, ASEAN, and the Import Expo will be the top priority for Singapore-China business cooperation this year, said SBF's Chairman Teo Siong Seng at a media briefing held with the participation of the Trade section of Chinese Embassy in Singapore.
Singapore's government departments also attach great importance to the Import Expo. The government has introduced a series of preferential policies to encourage enterprises to participate in international exhibitions. The ministry of trade and industry and the International Enterprise Singapore, the trade promotion agency, will actively provide all kinds of support to help more SMEs explore the Chinese and international markets through the Import Expo, said Shen Ying, Singapore's senior minister of state at both the ministry of trade and industry and ministry of culture, community and youth.
China has been Singapore's largest trading partner and export market since 2013. The bilateral trade volume exceeded SGD137 billion (USD103 billion) last year, up 17 percent over the same period of last year, while Singapore's exports to China increased 22 percent. China is also Singapore's fourth largest service trading partner and service export market. China International Import Expo will provide a new impetus to further development of China-Singapore trade.