TNAG-2501-FCO40-3639-Relations-between-Hong-Kong-and-Commonwealth-countries-1992 — Page 25

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CONFIDENTIAL

ANNEX: TRADE BETWEEN CHINA AND SINGAPORE

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Trade with China has been of longstanding importance Singapore, which has benefitted greatly from its role as an entrepot port. Traditional policy on the part of Singapore was to allow its businessmen to attend the Guangzhou (Canton) Trade Fair, as well as actively to encourage all commercial visits to China. Initially the pace was slow. Since the first official

first official Chinese trade delegation visited Singapore in September 1977, the momentum has increased as China has extended foreign trade under its "open door" policy. Between 1979 and 1984 Singapore's trade with China grew by more than one and a half times. Since late 1984 there have been many trade visits and conferences and seminars dealing with trade between the two countries, the latest being the "Gateway to China" conference sponsored in Singapore in April 1986 by the Singapore Society of Accountants. In addition, a great number of Singaporean businessmen have made individual visits, looking to trade with China.

2. In mid-1985 Dr Goh Keng Swee, widely regarded as architect of Singapore's "economic miracle", but by then no longer holding any government office, (though he remains deputy chairman of the Monetary Authority of Singapore), accepted the Chinese government's invitation to serve as economic consultant for

for the development of China's coastal areas. He spent considerable time in China during 1985 and has already made studies of Shanghai, Guangzhou, Shenzhen, Zhuhai and Hainan. In November 1985 he was invited to serve concur- rently as an adviser to China's tourism industry, (though it is not known if he has agreed to). Another senior Singaporean, Major Fong Sip Chee MP, was appointed, in September 1985, adviser for economic and industrial development to Tianjin. Mr Wei Yuming, Deputy Minister of China's Ministry of Foreign and Economic Relations and Trade (MOFERT), made two visits to Singapore in 1985. On one occasion he brought

he brought with him the deputy mayors of six cities who between them had a portfolio of almost 70 projects offering opportunities for Singaporean businessmen.

3. Prime Minister Lee Kuan Yew's visit of September 1985 to Peking further boosted the trend towards economic co-operation.

The delegation accompanying him was 30 strong. The opportunities of improved trade and economic links explored during his 13-day visit included the following areas:

- Civil Aviation

Upgrading by Singapore of civil aviation facilities in any Chinese province with substantial tourism potential.

Tourism

Advice on improving the facilities of the China International Travel Service.

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CONFIDENTIAL

Manpower