China and Singapore held their first bilateral talks on the
establishment of a free trade area (FTA) in Beijing Thursday, the
Ministry of Commerce said.
During Thursday's meeting, officials of the two sides exchanged
views on the mechanism, range and timetable of the FTA talks, a
Ministry spokesperson told Xinhua.
The meeting marks the formal launch of FTA talks between China
and Singapore. The process was initiated in August this year by
Chinese Vice-Premier Wu Yi and Singaporean Deputy Prime Minister
Wang Kan Seng at the 3rd meeting of the Joint Council for Bilateral
Cooperation.
The past decade has seen trade between China and Singapore surge
to reach US$33.15 billion in 2005.
The establishment of the FTA will further promote bilateral
trade and economic ties, the spokesperson said.
Singapore is the second developed nation to have entered FTA
talks with China after Australia.
(Xinhua News Agency October 27, 2006)
