2015年CRI New Deals Aim to Boost China-Singapore Cooperation

 

Among the accords is a long-anticipated deal over negotiations¹ to upgrade the seven-year-old China-Singapore free trade agreement.

Zhang Jianping, a foreign trade expert with China's top economy planner, NDRC, says it's expected to meet the increasing needs of bilateral² businesses and create more room for future cooperation.

"As free trade and investment is gaining further momentum³ around the world, it's necessary for China and Singapore to upgrade their FTA to boost bilateral trade, mutual⁴ investment and the cooperation between relevant sectors⁵ of the two sides. Once upgraded, it's likely to create more jobs for both sides."

The existing China-Singapore FTA was signed in October 2008.

It came into force on Jan. 1 next year.

It was China's first comprehensive bilateral FTA with another Asian country.

The FTA deal is among those signed earlier Saturday in the presence of President Xi Jinping and Singaporean Prime Minister Lee Hsien Loong.

One of those agreements concerns the third government-to-government project between the two sides.

Under the deal, the two sides will join hands to build Chongqing in southwestern China into an important nodal point for the "Belt and Road" initiative.

The latest deal follows the success of two previous G-to-G projects -- the Suzhou Industrial Park established in 1994 and an Eco-city project inaugurated seven years ago in Tianjin.

Chongqing, one of China's four municipalities, has seen a fast-growing economy since 2014.

The city's economy expanded by 11 percent in the first three quarters of this year.

Singapore Business Federation⁶ chairman Teo Siong Seng says the Chongqing project is different from the previous two as it will target China's central and west regions.

Teo is looking forward to the opportunities the new plan will bring.

"Apart from being an important transit⁷ center for Southeast Asia, Singapore has also advantages in finance, communications, e-commerce and logistics. We hope to fully⁸ play these advantages for the third project."

Xi arrived in Singapore after wrapping up his state visit to Vietnam on Friday.

The two sides have agreed to redefine their ties as a partnership⁹ of 'all-round cooperation' in keeping with the times.

For CRI, I'm Luo Wen.

1 negotiations   

协商( negotiation的名词复数 )； 谈判； 完成（难事）； 通过

参考例句：

• negotiations for a durable peace 为持久和平而进行的谈判
• Negotiations have failed to establish any middle ground. 谈判未能达成任何妥协。

2 bilateral   

adj.双方的，两边的，两侧的

参考例句：

• They have been negotiating a bilateral trade deal.他们一直在商谈一项双边贸易协定。
• There was a wide gap between the views of the two statesmen on the bilateral cooperation.对双方合作的问题，两位政治家各自所持的看法差距甚大。

3 momentum   

n.动力，冲力，势头；动量

参考例句：

• We exploit the energy and momentum conservation laws in this way.我们就是这样利用能量和动量守恒定律的。
• The law of momentum conservation could supplant Newton's third law.动量守恒定律可以取代牛顿第三定律。

4 mutual   

adj.相互的，彼此的；共同的，共有的

参考例句：

• We must pull together for mutual interest.我们必须为相互的利益而通力合作。
• Mutual interests tied us together.相互的利害关系把我们联系在一起。

5 sectors   

n.部门( sector的名词复数 )；领域；防御地区；扇形

参考例句：

• Berlin was divided into four sectors after the war. 战后柏林分成了4 个区。 来自《简明英汉词典》
• Industry and agriculture are the two important sectors of the national economy. 工业和农业是国民经济的两个重要部门。 来自《现代汉英综合大词典》

6 federation   

n.同盟，联邦，联合，联盟，联合会

参考例句：

• It is a federation of 10 regional unions.它是由十个地方工会结合成的联合会。
• Mr.Putin was inaugurated as the President of the Russian Federation.普京正式就任俄罗斯联邦总统。

7 transit   

n.经过，运输；vt.穿越，旋转；vi.越过

参考例句：

• His luggage was lost in transit.他的行李在运送中丢失。
• The canal can transit a total of 50 ships daily.这条运河每天能通过50条船。

8 fully   

adv.完全地，全部地，彻底地；充分地

参考例句：

• The doctor asked me to breathe in,then to breathe out fully.医生让我先吸气，然后全部呼出。
• They soon became fully integrated into the local community.他们很快就完全融入了当地人的圈子。

9 partnership   

n.合作关系，伙伴关系

参考例句：

• The company has gone into partnership with Swiss Bank Corporation.这家公司已经和瑞士银行公司建立合作关系。
• Martin has taken him into general partnership in his company.马丁已让他成为公司的普通合伙人。