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ESM Goh urges Chinese, S'pore firms to cooperate in tech drive

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There is vast potential for tech companies from Singapore and the Chinese city of Chongqing to cooperate, as they can leverage each other's strengths and open up new opportunities, Emeritus Senior Minister Goh Chok Tong said yesterday.

This cooperation will also lead to dividends on the bilateral account, as greater information and communications technology (ICT) connectivity will help boost physical and digital trade between Singapore and China, said Mr Goh.

He was delivering the keynote address at the opening ceremony of the inaugural Smart China Expo. He described how technology was a key aspect of cooperation under the Chongqing Connectivity Initiative, a joint government project between Singapore and China.

It aims to spur growth in China's less developed western region by enhancing transport and trade links.

A key part is the Southern Transport Corridor, which links the Belt and Road Initiative's land and sea trade routes.

The project has exceeded the initial expectations of both countries since its launch in 2015, said Mr Goh.

But there is still a lot of potential for cooperation in ICT.

China is the second largest ICT market in the world, Mr Goh noted, adding this market is expected to reach US$880 billion (S$1.2 trillion) by 2025.

Urging companies from both countries to cooperate, he said: "A vibrant and dynamic ICT connectivity between Singapore and Chongqing will help further facilitate physical and digital trade between the two countries."

There has been "good progress" so far, with smart city and tourism pilots launched in Chongqing.

Mr Goh said Singapore can be a bridge for Chinese companies seeking to expand to South-east Asia.

The expo is one of the highest-level events Chongqing has held, and the organisers, including the Chongqing city government and other national agencies, have attracted more than 500 enterprises with exhibits at the Chongqing International Expo Centre.

Chinese and foreign leaders including Chinese Vice-Premier Han Zheng also attended the opening ceremony event.

Mr Han said smart tech is changing the world and major countries are trying to form national strategies to develop their smart industries.

China is as well, and the country is pushing for increased digitisation in commerce, politics and civil life, he said.

Technology