Singapore, China JV a "bright spot: officials

By Cheryl TayEmeritus Senior Minister (ESM) Goh Chok Tong and Chinese Premier Wen Jiabao have announced that the bilateral financial cooperation between the two countries for the Tianjin Eco-City, Suzhou Industrial Park is on good progress.The two countries are also sharing how to battle the challenges faced by the joint venture (JV) development.Over the past few years, there has been rapid growth in the Tianjin Eco-city, which validates the sustainability of economic progress that can be achieved in China.The officials regard the financial cooperation as a "new bright spot" in terms of bilateral relations, as the subject was covered during Premier Wen and ESM Goh's meeting in April last year. They noted that cooperation in this area would boost trade and investment between Singapore and Malaysia.ESM Goh, who is on a four-day trip to attend the annual plenary meeting of the InterAction Council (IAC) in China, has spoken with Premier Wen on the sidelines of the meeting. The 30-year old IAC was founded as an independent international organisation through the initiative of former Japanese Prime Minister Takeo Fukuda.Goh joined the council in November 2008 and attended two plenary meetings, one in Hiroshima in 2010 and another in Quebec last year. Related Stories:High industrial property prices not sustainable: analystsCache Logistics Trust to acquire Pandan Logistics HubSembcorp unit clinches $376m contract with Chinese firm

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