China and Singapore held their first bilateral talks on the establishment of a free trade area (FTA) in Beijing Thursday, the Ministry of Commerce said.

During Thursday's meeting, officials of the two sides exchanged views on the mechanism, range and timetable of the FTA talks, a Ministry spokesperson told Xinhua.

The meeting marks the formal launch of FTA talks between China and Singapore. The process was initiated in August this year by Chinese Vice-Premier Wu Yi and Singaporean Deputy Prime Minister Wang Kan Seng at the 3rd meeting of the Joint Council for Bilateral Cooperation.

The past decade has seen trade between China and Singapore surge to reach US$33.15 billion in 2005.

The establishment of the FTA will further promote bilateral trade and economic ties, the spokesperson said.

Singapore is the second developed nation to have entered FTA talks with China after Australia.

(Xinhua News Agency October 27, 2006)