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: Digital economy a new focus for Singapore-Zhejiang collaborations

MR No.: 039/23

Singapore and Zhejiang continued to enjoy resilient trade ties, with total trade growing at an annual compounded rate of 16.6% from 2019 to 2022 to reach US$8.25 billion, despite the pandemic. Building on the progressive economic relations, Co-Chairmen of the Singapore-Zhejiang Economic and Trade Council (SZETC) – Senior Minister of State for Foreign Affairs and National Development Ms Sim Ann and Zhejiang Vice Governor Mr Lu Shan – today signed a Memorandum of Understanding (MOU) to deepen bilateral collaborations in trade, investment & connectivity, innovation cooperation and exchanges, as well as to set up a new workgroup to drive efforts in digital economy.

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