Mr Teo Ser Luck at the 5th SJCC Meeting, 24 Oct 2011

CLOSING SPEECH BY MR TEO SER LUCK, MINSTER OF STATE FOR TRADE AND INDUSTRY AND VICE CO-CHAIRMAN OF SINGAPORE-JIANGSU COOPERATION COUNCIL (SJCC), AT THE 5th SJCC MEETING 24 OCTOBER 2011, SINGAPORE 

Your Excellencies Jiangsu Governor Li Xueyong,

Ambassador Wei Wei,

Jiangsu Vice Governor Zhang Weiguo,

Distinguished Council Members,

Ladies and Gentlemen,

Good Morning!

It is my great pleasure to be here this morning to attend the Singapore-Jiangsu Cooperation Council meeting as the new Vice Co-Chairman. Singapore and Jiangsu enjoy very close relations and I am glad to play a part in continuing the strong ties between us.

We have heard both sides elaborate on the achievements of the SJCC in the past year, and the work plan for 2012. It is clear that Asia, especially China, is expected to remain the key engine of growth for the global economy in today’s uncertain climate. To sustain mutual growth, the SJCC needs to focus on deepening our cooperation not only in key industry sectors and platform projects, but also by exploring new frontiers to better meet changing development needs.

To drive growth for the province, the Jiangsu government is pushing ahead to strengthen its economy and fulfill infrastructure needs. The rising need for resources amidst the growing trend of urbanisation will be a key challenge to overcome. Having to find the balance between growth and sustainable development will take time. In this aspect, Singapore can share our experience.

As Singapore progressed over the years, we have undertaken innovative ways and a long-term approach to build up our infrastructure through good planning and cost-effective solutions. There is no doubt that Singapore managed to achieve this because we are a much smaller country. We do not propound to know more because of the different situations we face in each country (国情不同) but we can certainly share our experience with Jiangsu and collaborate in areas like urban solutions, master planning, education, tourism, talent development as well as science and technological innovations. Specifically, we can look at three key areas.

Opportunities abound in Northern Jiangsu Cities

First, potential of the Northern Jiangsu cities. Recognising its growth, the Council and IE Singapore have been facilitating the entry of Singapore companies, including SMEs, into these relatively less-explored cities. To create a better living environment for its people, the Jiangsu government is actively looking to narrow the income gap between the Northern and Southern cities, and hasten the economic development in the Northern region. It is already on track with the rapid development of cities in Northern Jiangsu , which together recorded an average GDP growth of 13.6 per cent in 2010, exceeding that of the Southern cities .

There are three coastal cities highlighted under Jiangsu’s Northern Coastal Development Strategy, Yancheng, Lianyungang and Nantong. I have just visited Lianyungang two weeks ago and was impressed with its developments, especially the port and related industries. Lianyungang is strategically positioned and has a strong multi-modal logistics network, combining sea, rail, road and inland transportation. Singapore and Lianyungang share many similarities as both are deep-water port cities. There are many opportunities for us to work together in areas such as offshore marine related areas, port development, logistics and management. Lianyungang is also an attractive hub for many traders because of its strategic access to Central and West China, as well as East European markets. Yancheng and Nantong are another two potential cities driving the growth of the northern coastal region.

The rapid development of these cities presents opportunities for Singapore to explore opportunities in water treatment, training, petrochemicals processing and related value chain industries. In particular, the increase in petrochemical processing can help drive the development of the logistics sector. The Council has already seen an increase in the number of Singapore companies that are making inroads into the Northern Jiangsu cities and will fully support more companies to do so.

Collaboration in YOG

Second, the announcement of Nanjing as the next host city for the 2014 Youth Olympic Games (YOG) adds a new area of partnership to the multi-faceted Singapore-Jiangsu cooperation.

As the host city for the inaugural YOG last year, Singapore can share its experience and exchange knowledge on the event. Given my familiarity and personal involvement with the YOG in Singapore last year, I led a 18-member strong business delegation to Nanjing about two weeks ago. Our companies met with the Nanjing YOG Organising Committee to better understand the preparations to-date, and the areas where we can potentially work together on.
We established that there needs to be increased exchanges between our Singapore companies and the Nanjing YOG Organising Committee, so as to bring about more partnerships. This will be beneficial for some of our companies involved in the YOG last year, many of which are SMEs and have niche expertise to offer. I believe the increased interaction between our companies and the Committee will help identify opportunities for our companies to become partners, sponsors or suppliers for the 2014 YOG in Nanjing.

Collaboration in Platform Projects

Last but not least, both sides should be committed to ensure the quality and development pace of our two platform projects - the Singapore-Nanjing Eco High-Tech Island and Suzhou-Nantong Science and Technology Park. These strategic projects are aligned to the cities’ needs and developed on a sustainable basis. They carry the Singapore brand name reputed for our world-class standards and quality.

Conclusion

As China dedicates itself to promoting an improved development that enjoys social stability and offers its people a better quality of life, Singapore and Jiangsu should continue to broaden our bilateral exchanges covering social and community development, and encourage interaction at all levels.
In closing, I would like to thank all members for joining us in the meeting today. I hope you have found the discussions and sharing on the latest developments of our collaborative projects fruitful. Let us look forward to yet another year of progress and achievement.

Thank you.