Singapore inks 20 deals with eastern Chinese province

  SINGAPORE, Nov. 28 (Xinhua) -- Singapore and eastern China's Jiangsu province have increased their bilateral ties by signing 20agreements worth about 2.03 billion U.S. dollars and identifying economic cooperation areas on Friday.

Among the 20 agreements signed on the sidelines of the second Singapore-Jiangsu Cooperation Council meeting is a landmark memorandum of understanding (MOU) by both sides to support a commercially-driven project by a Singapore consortium to develop an eco high-tech city in Nanjing, the capital of Jiangsu province.

Both sides agreed to deepen bilateral economic cooperation in key areas of business process outsourcing, logistics and environmental services among others.

As the top recipient of Singapore's foreign direct investments among the provinces in China, Jiangsu has enjoyed close bilateral economic relations with Singapore since the early years.

Singapore has invested 3,150 projects and a total paid-in capital of about 14 billion U.S. dollars in Jiangsu. This year, the trade between Singapore and Jiangsu will exceed 10 billion U.S. dollars.