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Economic relations between Singapore and Zhejiang remained strong despite the COVID-19 pandemic. In 2021, bilateral trade grew 18.4% year-on-year to reach US$6.91 billion, while Singapore’s actual cumulative investments in Zhejiang increased a further 9.8%, bringing the total to US$8.26 billion. Singapore companies continue to seize opportunities across various areas, with 8 projects signed at the 16th Singapore-Zhejiang Economic and Trade Council (SZETC) meeting today. 

The 16th SZETC meeting was co-chaired by Ms Sim Ann, Senior Minister of State for Foreign Affairs and National Development, and Mr Zhu Congjiu, Zhejiang Vice Governor. The leaders reaffirmed the strong economic ties between Singapore and Zhejiang, and noted good progress achieved in the key thematic areas of (i) Trade and Connectivity, (ii) Innovation and People Exchanges, and (iii) Sustainable Urban Management, which were initiated at the 15th SZETC meeting in December 2020. 

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