Chinese, Singaporean business organizations expected to enhance cooperation, facing COVID-19 "new normal"

Chinese and Singaporean business organizations have been called on Wednesday at a forum to proactively explore new ideas and help enterprises to tap new markets, facing normalization of the COVID-19 pandemic prevention and control.

President of China Enterprises Association (Singapore) (CEA) Cheng Jun made the remarks at the second China-Singapore Economic and Trade Cooperation Forum on Wednesday, adding business organizations of both countries should build up a cooperation matching platform for the enterprises.

CEA signed Strategic Cooperation Memorandums at the forum with Singapore Manufacturing Federation, Singapore's Association of Small and Medium Enterprises, Tian Fu Association (Singapore) and Jiangsu Association (Singapore) respectively, according to Cheng.

He said that CEA would like to cooperate with various friendly business organizations, expand the cooperation scope of CEA's service platforms, and organize economic, trade and investment promotion activities in more forms, so as to help enterprises accurately match with each other and promote the steady and long-term cooperation between the two countries.

Chinese and Singaporean enterprises need to seize the opportunity of the newly-signed Regional Comprehensive Economic Partnership (RCEP) to promote the restructuring of supply chains and value chains in the Asia-Pacific region, and make full use of the complementary advantages of industries in both countries, he said.

Ten member countries of the Association of Southeast Asian Nations (ASEAN) and China, Japan, South Korea, Australia and New Zealand signed RCEP on Sunday, launching the world's biggest free trade bloc.