DPM Gan: JCBC shows 'substantive & multi-faceted nature' of SG-China relations

While the world has experienced opportunities for growth and massive productivity gains driven by technological progress, every country is currently grappling with economic headwinds and challenges posed by climate change.

Against this "complex global environment", the Joint Council for Bilateral Cooperation (JCBC) is an important platform, said Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong.

Speaking at the 20th JCBC held at Shangri-La Singapore on Nov. 11, DPM Gan emphasised how this year's JCBC not only deepened cooperation in traditional areas, but also expanded partnerships in emerging sectors.

Case in point, DPM Gan highlighted how this year's edition discussed the strengthening of both countries' bilateral economic partnership.

Both countries have also renewed cooperation and launched new initiatives, such as the establishment of green and digital shipping corridors as well as the facilitation of green financing flows, he added.

"As our countries face similar challenges ranging from demographic pressures to supply chain vulnerabilities, it is timely that we step up cooperation on food security, healthcare, and leadership development. We will continue tapping on our longstanding partnerships in innovation and science and technology to find solutions to these challenges, including new drivers of growth."

The advancing of "many concrete initiatives across a wide spectrum of sectors" over the past editions of JCBC demonstrates the "substantive and multi-faceted nature" of Singapore's bilateral relations with China, as well as the "firm commitment at the highest levels" to advance the Singapore-China partnership, said DPM Gan.

What is the JCBC?

Held annually, the JCBC is the apex bilateral platform that sets strategic direction for cooperation between Singapore and China.

It is typically an opportunity for both countries to sign memorandums of understanding (MOU) across a wide range of issues.

A total of 25 MOUs and agreements were announced at this year's JCBC.

They include a protocol to export locally farmed fish products to China, the establishment of the Singapore-Shandong Green and Digital Shipping Corridor, as well as a framework for collaboration on joint research initiatives focused on climate resilience and adaptation.

The meeting was co-chaired by China's Vice Premier Ding Xuexiang.