On July 28, 2022, the "2022 China (Sichuan) - Singapore RCEP Policy Interpretation and Application Conference" jointly sponsored by the Singapore Chinese Chamber of Commerce and Industry and the Sichuan Council for the Promotion of International Trade was held in Chengdu. Weng Wenzhao, Chairman of the International Affairs Committee of the Singapore Chinese Chamber of Commerce and Industry of Singapore, Fu Anqi, Deputy Director of the West China Division of the Singapore Enterprise Development Bureau, and Lei Xuejie, Vice President of CCPIT Sichuan Council attended the meeting and delivered speeches. More than 100 people attended the meeting online and offline, including the Chengdu Representative Office of the Singapore Enterprise Center, the CCPIT Council of various cities and states in Sichuan Province, and representatives of Xinchuan enterprises.
Chairman Weng Wenzhao stated that the RCEP agreement signed by the 10 ASEAN countries and 15 other countries including China will help accelerate regional economic recovery and close cooperation between industrial and supply chains. In the future, ASEAN may become the fourth largest single market in the world, and Singapore, as an important hub for the world and Asia, is an excellent starting point for enterprises to enter the ASEAN market. The Singapore Chinese Chamber of Commerce and Industry encourages Sichuan enterprises to seek new business opportunities in the ASEAN market through Singapore, and the Chamber of Commerce will also help Singapore enterprises to explore the Chinese market.
Deputy Director Fu Anqi stated that China and ASEAN have been each other's largest trading partners since 2020. In 2021, Sichuan's import and export volume to ASEAN reached 181.85 billion yuan, making ASEAN the second largest trading partner of Sichuan. The effective implementation of RCEP will further promote trade and commercial connections between Singapore, China, and other RCEP countries. Singapore, with its unique geographical location, logistics and trade center advantages, and highly developed business environment, has spawned a high-quality commercial service industry, helping enterprises expand overseas markets. As a government agency leading the development of Singaporean enterprises, the Singapore Enterprise Development Authority welcomes and supports more cooperation among Singaporean enterprises.
Vice President Lei Xuejie pointed out that China and Singapore are important member states of RCEP, and Singapore is also a major trading partner of Sichuan Province, with frequent economic and trade exchanges between the two sides. Over the years, CCPIT Sichuan Council has established good cooperative relations with the Singapore Enterprise Development Bureau and the Singapore Chinese Chamber of Commerce and Industry, and the three parties have made positive contributions to promoting the economic and trade development and friendly exchanges between Sichuan Province and Singapore. She emphasized that in the context of the RCEP agreement coming into effect, the Sichuan Council for the Promotion of International Trade is willing to take this opportunity to work with the Singaporean business community to embrace new opportunities for opening up, deepen cooperation in new areas, and work together to seek new development.
At the briefing, two experts, Tang Ziquan, a partner of Lijie Law Firm in Singapore, and Yuan Jia, a senior partner of Taihe Tai Law Firm, respectively interpreted and shared the themes of "RCEP Practice and Benefits for Chinese and New Zealand Enterprises" and "Opportunities and Legal Protection for Singapore Enterprises' Investment and Cooperation in Western China under the RCEP Background", taking into account the hot topics of interest to both companies. Participating enterprises have expressed that they have learned and benefited greatly
