MEDIA STATEMENT

Minister Leads 58-member Delegation To Zhejiang For Bilateral Meeting

Business mission is organised by IE in conjunction with the ninth Singapore-Zhejiang Economic and Trade Council meeting

MR No.: 045/13 Singapore, Monday, 25 November 2013

1. Minister, Prime Minister's Office, Second Minister for the Environment and Water Resources and Second Minister for Foreign Affairs, Ms Grace Fu will lead a 58- member strong delegation to Hangzhou and Shaoxing in Zhejiang province from today until 28 November. She is accompanied by Ms Sim Ann, Minister of State for Communications and Information & Education.

2. Minister Fu will co-chair the ninth Singapore-Zhejiang Economic and Trade Council (SZETC) meeting with Zhejiang Vice Governor Liang Liming in Hangzhou tomorrow. 2013 marks the tenth year since the SZETC was established. The Council will review key initiatives in the last ten years and future collaboration areas for the coming year. Discussions will revolve around new ways to deepen longstanding relations in line with the province’s growth direction.

3. The four-day mission is organised by International Enterprise (IE) Singapore, the Singapore secretariat for the SZETC1. The business delegation comprises companies from a wide range of sectors, including professional, lifestyle and infrastructure services.

1 IE Singapore is also Secretariat to six other bilateral councils, namely with Guangdong, Jiangsu, Liaoning, Shandong, Sichuan and Tianjin.

International Enterprise Singapore is the government agency driving Singapore’s external economy. IE Media Statement 25 Nov’13

4. To explore and deepen economic collaboration and beyond, the delegation will visit Zhejiang University, including a tour of classrooms designed for students from the Singapore University of Technology and Design (SUTD) in Zhejiang. The delegation will also visit Alibaba and China Academy of Art in Hangzhou. In Shaoxing, they will visit China’s Textile City, Oversea Chinese Banking Corporation’s (OCBC) first branch in Zhejiang and first foreign bank in Shaoxing, and the China Rice Wine Museum.

5. Minister Fu will call on Zhejiang provincial leaders including Vice Governor Liang Liming as well as top city leaders from Hangzhou and Shaoxing during the trip.

6. In 2012, Singapore’s actual investments in Zhejiang increased 36.2% from the previous year to S$698.7 million2 (US$560 million). As of end 2012, cumulative actual investments in Zhejiang were S$4.1 billion 3 (US$3.3 billion) with 1,008 projects 4 . Bilateral trade increased 10.5% to hit S$6.1 billion5 (US$4.9 billion) last year.

Annex 1: Chinese terms

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Note to Editor Please use ‘IE Singapore’ or ‘IE’ if an acronym for ‘International Enterprise Singapore’ is required. In addition, unless otherwise stated, the use of statistics cited in our media releases, website or Statlink, should be attributed to IE Singapore.

Issued by IE Singapore. For media enquiries, please contact:

Ms MOK Kai Lynn Manager Media, Corporate Communications Group DID : +65 6433 4706 Email : [email protected] ______

About International Enterprise Singapore

2 Converted to SGD on 15 November 2013 using https://secure.mas.gov.sg/msb/ExchangeRates.aspx 3 Converted to SGD on 15 November 2013 using https://secure.mas.gov.sg/msb/ExchangeRates.aspx 4 Source: Zhejiang Department of Commerce 5 Converted to SGD on 15 November 2013 using https://secure.mas.gov.sg/msb/ExchangeRates.aspx

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IE Media Statement 25 Nov’13

International Enterprise (IE) Singapore is the government agency driving Singapore’s external economy. For the past 30 years, we have been spearheading the overseas growth of Singapore-based companies and promoting international trade. Our vision is a thriving business hub in Singapore with Globally Competitive Companies (GCCs) and leading international traders.

IE Singapore attracts global commodities traders to establish their home base in Singapore. Today, Singapore is a thriving trading hub for the energy, agri-commodities and metals & minerals trading clusters.

Through our Global Company Partnership and Market Readiness Assistance, we work with Singapore-based companies to customise total solutions in capability building, market access and financing for their internationalisation.

Our global network of overseas centres in over 35 locations provides the necessary connections in many developed and emerging markets.

Visit www.iesingapore.com for more information.

About Singapore-Zhejiang Economic & Trade Council

The Singapore-Zhejiang Economic & Trade Council (SZETC) was established on 18 November 2003. The launch of SZETC was witnessed by then Singapore Prime Minister and Chinese Premier Wen Jiabao. Ms Grace Fu, Minister, Prime Minister's Office, Second Minister for the Environment and Water Resources, and Foreign Affairs, and Liang Liming, Zhejiang Vice Governor, are Co-Chairmen of the Council.

The Council aims to promote economic exchanges and cooperation between Zhejiang Province and Singapore and is made up of government and private sector representatives from Singapore and Zhejiang.

The Council endeavours to achieve its objective through the following:

a. exchange of economic data and information, and familiarise each other on the respective economic policies; b. promote, guide, and assist in bilateral trade and investment; c. organise exchange activities in the areas of economic, trade, and investments; d. coordinate and help companies solve problems in joint businesses; e. other work that are mutually beneficial for economic and social development.

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IE Media Statement 25 Nov’13

ANNEX 1

CHINESE TERMS

International Enterprise (IE) Singapore 新加坡国际企业发展局 (企发局)

Singapore-Zhejiang Economic and Trade 新加坡－浙江经济贸易理事会 Council (SZETC)

Ms Grace Fu 傅海燕女士 Minister, Prime Minister's Office, 总理公署部长兼环境及水源部和外交部第二 Second Minister for the Environment and 部长 Water Resources and Second Minister for Foreign Affairs

Co-Chairman 联合主席 Singapore-Zhejiang Economic and Trade 新加坡－浙江经济贸易理事会 Council (SZETC)

Ms Liang Liming 梁黎明女士 Zhejiang Vice Governor 浙江省副省长

Co-Chairman 联合主席 Singapore-Zhejiang Economic and Trade 新加坡－浙江经济贸易理事会 Council (SZETC)

Ms Sim Ann 沈颖女士 Minister of State, Ministry of 教育部兼通讯及新闻部政务部长 Communications and Information & Ministry of Education

Zhejiang University 浙江大学

Alibaba 阿里巴巴

China Academy of Art 中国美术学院

China’s Textile City 绍兴轻纺城

China Rice Wine Museum 中国黄酒博物馆

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