The future of bilateral relationship between Singapore and China is very bright, Singapore Foreign Minister George Yeo said at a dinner marking the35th anniversary of the Singapore-China Business Association on Thursday.
"It is a relationship which spans a broad spectrum, not only government-to-government. Our people-to-people links, including links between young people, have become stronger. Our business connections are also growing year by year," Yeo said.
Noting that Singapore benefited from trading with and investing in China, Yeo pointed out that Singapore is China's 7th largest foreign investor in terms of cumulative utilized foreign direct investment (FDI) till 2004 while bilateral trade volume is expected to surpass 60 billion Singapore dollars (about US$36 billion) by the end of this year.
Yeo said that it has been Singapore's policy all along to "help China establish enduring good relations" with all members of the Association of Southeast Asian Nations (ASEAN), which is important to the entire region as well as to Singapore.
Established in 1970, the Singapore-China Business Association has been playing an active role in promoting the economic and trade cooperation between the two countries.
(Xinhua News Agency December 30, 2005)