Chinese State Councilor and Foreign Minister Wang Yi made it clear that China is ready to cooperate with Singapore to send clear messages of adhering to multilateralism and fighting against unilateralism and trade protectionism. Wang agreed to join hands with Singapore in this initiative in a meeting with his Singaporean counterpart Vivian Balakrishnan in Singapore on this Wednesday.
Both the officials held a meeting to discuss the terms ahead of the China-ASEAN foreign ministers meeting and the foreign minister meetings of the East Asia Summit, according to China Daily. Wang even applauded Singapore's positive approach in pushing forward the bilateral ties between China and the Association of Southeast Asian Nations (ASEAN) as the China-ASEAN country coordinator for consecutive three years at a stretch. He also clarified that China will always support the regional cooperative course of East Asia with the ASEAN at its core.
Chinese Foreign Minister's Take:
According to Vietnam Plus, Wang added: "With growing uncertain and unstable factors in the world, we should make concerted efforts to ensure East Asia's peace and stability as well as maintain its momentum of marching forward," He congratulated Vivian for the association of Singapore for maintaining the terms of free trade between the two developing nations. Wang even assured Vivian for the progress of trade relations in near future with more opportunities for growth.
Singapore's Foreign Minister's Part:
Vivian also agreed to the trade cooperation terms between the two countries on his part and also welcomed China's initiatives to combat against rising unilateralism and trade protectionism and uphold multilateralism as well as free trade and regional economic integration.
He further appreciated China's support for Singapore's role as the ASEAN-China country coordinator. He stated that this will open new doors for the trade relations between China and Singapore. The step will also be fruitful for the development of ASEAN-China ties, Vivian concluded.
Experts' Take on China's Newest Initiative:
Market Analysts have suggested that China's new initiative to tighten the bonds with Singapore, may provide an apparent relief from its trade tensions with the U.S. Some experts even noted that this tie-up may also generate alternative opportunities for China to develop its exports and imports altogether.
