The Singapore and Chinese governments should provide necessary environment and infrastructure to facilitate and encourage the establishment of substantial and win-win partnership between businesses of the two countries, Speaker of the Singapore Parliament Abdullah Tarmugi said on Wednesday.

Addressing the China-Singapore Economic and Trade Forum, Abdullah said that there are many natural complementarities between the Singapore and Chinese economies in terms of investment and internationalization of companies.

"Our governments can pave the first road by creating platforms for frank discussion, so that our efforts and objectives can be aligned for greater impact," Abdullah noted, citing the Joint Council for Bilateral Cooperation (JCBC) between the two sides as a good example.

He added that the two governments should reduce trade and investment barriers, as well as help companies source for opportunities in and find open doors to each other's market.

Visiting chairman of China's National People's Congress Standing Committee Wu Bangguo attended the opening ceremony of the forum, which attracted about 500 participants including government officials, entrepreneurs and businessmen.

The two governments also signed an agreement on the establishment of China-Singapore Bilateral Investment Promotion Committee on Wednesday, while China Great Wall Industry Corp., Singapore Airlines Cargo and Dahlia Investments inked an pact to form a joint venture cargo airline.

Source: Xinhua