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Singapore and China agreement
May 5 , 2018
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- Singapore and China have inked Memorandum of Understanding (MOU) to promote greater collaboration between companies from both countries in third-party markets along with China’s ambitious Belt and Road routes.
- Belt and Road initiative is a China’s ambitious development strategy and framework that aims to boost its connectivity and trade with Asia, Africa, Middle East and Europe.
- It was proposed by Chinese President Xi Jinping in 2013.
- It comprises two components viz. the Silk Road Economic Belt and the 21st Century Maritime Silk Road.
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