A 60-strong business delegation from Singapore will visit China's Jiangsu province this week, led by Singapore's Minister for Education Heng Swee Keat and Minister of State for Trade and Industry Teo Ser Luck.
The group will visit the cities of Nanjing, Xuzhou and Nantong from Monday to Thursday, according to a statement released on Monday by trade agency IE Singapore, which organised the trip.
The business mission is being held in conjunction with the seventh Singapore-Jiangsu Cooperation Council meeting in Xuzhou, which will take place on Wednesday, Oct 30, IE Singapore added.
Mr Heng will co-chair the meeting along with Jiangsu governor Li Xueyong. Mr Teo and Jiangsu vice-governor Fu Ziying are the council's deputy co-chairmen.
Several memoranda of understanding for new projects will be signed during the meeting, as well as one to renew the council's cooperation framework for another three years.
Mr Teo will also be the guest-of-honour at an internationalisation seminar in Nanjing on Tuesday. The seminar, organised by the Singapore Chinese Chamber of Commerce and Industry and the Jiangsu Chamber of International Commerce, will discuss how Singapore can partner Jiangsu businesses in their internationalisation and third-country collaborations.
Last year, investments by Singapore firms in Jiangsu rose 1.9 per cent from the year before to $2.6 billion, making Singapore the third-largest foreign investor in the province. Singapore has invested a cumulative total of $26 billion across some 3,750 projects in Jiangsu as at the end of last year.
Singapore is also Jiangsu's 10th largest trading partner, with bilateral trade climbing 7.6 per cent last year to reach $15.8 billion.
The Singapore delegation comprises companies from a wide variety of sectors, including finance, education, logistics, environmental and infrastructure solutions, said IE Singapore.