China's Guangdong-Hong Kong-Macao Greater Bay Area to remain key market for Singapore companies

Singapore and China's southern Guangdong will emerge from the COVID-19 pandemic stronger, and the Guangdong-Hong Kong-Macao Greater Bay Area will remain a key market for Singapore companies, according to a joint statement released on Monday.

The 11th Singapore-Guangdong Collaboration Council (SGCC) meeting was held over video-conference in Singapore and Guangzhou, co-chaired by Guangdong's governor Ma Xingrui and Singapore's Minister for Transport Ong Ye Kung.

The two sides reaffirmed the strength and resilience of economic ties and wide-ranging cooperation between Guangdong and Singapore, and the two co-chairs looked forward to enhancing multi-faceted cooperation between the two sides amid the COVID-19 pandemic.

They said in the joint statement that as the global economy faces challenges arising from the COVID-19 pandemic, both sides shall strengthen their cooperation and work together steadfastly to overcome the pandemic. Both sides shall forge ahead with business resumption, strengthen transport connectivity, and facilitate travel under the China-Singapore Fast Lane to promote greater exchange of people.

They said both sides shall continue to explore opportunities and new areas of growth post-COVID-19, and continue to deepen Singapore-Guangdong collaboration for mutual growth and prosperity.

Singapore and Guangdong will strengthen cooperation by keeping economies open, enhancing business environment, and upholding supply chain connectivity, they added.

"This is to provide the necessary conditions for enhanced trade and investment between Singapore and Guangdong, inject vibrancy into our All-Round Cooperative Partnership Progressing with the Times, and work towards a better future for both sides."

According to a statement issued by Enterprise Singapore, there are 15 project signings at the meeting.