Building the Belt and Road together will be the biggest highlight of our bilateral relations: Chinese Foreign Minister Wang Yi

During Foreign Minister Vivian Balakrishnan's official visit to Beijing (11 - 12 June), his Chinese counterpart, Wang Yi proposed 3 platforms for cooperation between Singapore and China as part of the BRI (Belt Road Initiative).

They are:

1. A trade network that spans and interconnects China, Central Asia, Europe and South East Asia.

2. Financial cooperation which will see China leverage on Singapore's strength as a regional financial centre to raise funds for the various BRI projects.

3. Training and transfer of technology. The two countries will work together to open up third markets in South East Asia, South Asia and beyond, tapping the respective strengths of both countries.

Dr Vivian said that ties between China and Singapore are strong and based on solid foundation that goes back four decades.

"The BRI is a wonderful idea and we have always been an early supporter of the initiative," he said at a joint conference with Mr Wang.

Mr Wang told reporters that China welcomes Singapore's support of and participation in the BRI. He noted that Singapore is well-positioned to play an important role, given its unique strategic position.

"Building the Belt and Road together will be the biggest highlight of our bilateral relations," Mr Wang said.

Being partners in the BRI will add more substance to bilateral ties and bring about peace and stability in the region, he added.

It was Dr Balakrishnan's fourth meeting with Mr Wang in six months and his second visit to Beijing this year.