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: Singapore and Jiangsu economic ties see steady growth; further collaborations in green development and innovation underway

MR No.: 077/22

Economic ties between Singapore and Jiangsu have seen steady growth over the year, with bilateral trade growing 12.5% year-on-year to reach US$12.8 billion in the first three quarters of 2022. In this same period, Singapore’s direct investments into Jiangsu amounted to US$2.1 billion, which surpassed the full year investments of US$1.4 billion in 2021. Singapore companies also continued to explore opportunities and expand partnerships across various sectors in Jiangsu, with 13 commercial agreements inked at the 16th Singapore-Jiangsu Cooperation Council (SJCC) meeting, covering areas such as advanced manufacturing, sustainability, technology and innovation as well as senior living.

The 16th SJCC meeting was co-chaired by Ms Indranee Rajah, Minister in Prime Minister’s Office and Second Minister for Finance and National Development, and Mr Xu Kunlin, Jiangsu Governor. Vice Co-Chairmen, Dr Koh Poh Koon, Senior Minister of State for Manpower and Sustainability and the Environment, and Mr Fang Wei, Jiangsu Vice Governor, were also present. During the meeting, both leaders reaffirmed the strong ties between Singapore and Jiangsu and highlighted opportunities to strengthen cooperation in areas such as green development and innovation.

Click here for the media release.