SBF markets Singapore as a 21st century maritime silk road

It’s attracting investors to consider the city-state as new trade route.

With China being an important trading partner, the Singapore Business Federation (SBF) courts more Chinese companies to choose the Lion City as a modern trade route.

SBF is leading a business mission in the 13th China-ASEAN Expo (CAEXPO) in Guangxi, China where it is promoting the city-state as a hub for the 21st century maritime silk road and modern connectivity.

“Guangxi is an increasingly important regional gateway between China and ASEAN. It is in close proximity to ASEAN countries and forms an important node connecting the Silk Road Economic Belt and the 21st century Maritime Silk Road. Through this mission, we hope to help businesses better understand and participate in the “One Belt, One Road” initiative, and showcase Singapore’s strengths as a modern connectivity hub to investors from China and the region,” said S S Teo, chairman of SBF.

China has been ASEAN’s largest trading partner for seven years. Trade has grown at 18.5% annually, from $7.9 billion in 1991 to $472 billion in 2015. The economic collaboration between China and ASEAN already translated into a deal to expand trade in the China-ASEAN Free Trade Area, targetting $1 trillion in total bilateral trade by 2020.

SBF, which has been reappointed by the Ministry of Trade and Industry to take charge of Singapore’s participation in CAEXPO, featured 25 Singapore companies in its pavilion. It underscored Singapore’s strengths and experience in hospitality and tourism, info-communication technology, infrastructure, professional services and transportation, as well as the three China-Singapore government-to-government projects. In the Commercial Pavilion, a total of 11 companies and eight trade associations and chambers are featured, SBF added.