Singapore and China sign upgraded FTA

Chinese Premier Li Keqiang and Singapore Prime Minister Lee Hsien Loong looking on during an MOU exchange between China's International Trade Representative and Vice-Minister of Commerce Fu Ziying (left) and Education Minister Ong Ye Kung at the Ista
Chinese Premier Li Keqiang and Singapore Prime Minister Lee Hsien Loong looking on during an MOU exchange between China's International Trade Representative and Vice-Minister of Commerce Fu Ziying (left) and Education Minister Ong Ye Kung at the Istana yesterday.PHOTO: LIANHE ZAOBAO

Singapore and China signed an upgraded free trade agreement (FTA) yesterday, as Chinese leader Li Keqiang began his first official visit to Singapore as Premier.

The expanded deal will give Singapore businesses greater access to China's legal, maritime and construction service sectors, and stronger protection for their investments.

In turn, Singapore will open up its air transport, courier and environmental sectors to Chinese companies that want to compete here.

Premier Li and Prime Minister Lee Hsien Loong witnessed the signing of the upgraded FTA, alongside 10 memorandums of understanding (MOU). China is Singapore's largest trading partner and top foreign investment destination.

 

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A version of this article appeared in the print edition of The Straits Times on November 13, 2018, with the headline 'Singapore and China sign upgraded FTA'. Print Edition | Subscribe