Singapore Minister for Trade and Industry Gan Kim Yong encourages businesses to focus on China and explore opportunities for expansion, despite the country's current economic challenges.
While China may face headwinds in its economic recovery in the near term, Singapore trade and industry minister Gan Kim Yong said the country has strong long-term prospects .
China had briefly entered deflation territory late last year, and is still struggling with a debt-laden real estate sector. However,"if you take a deeper look, when I engaged the businesses and the people on the ground, I think the sense it gives me is that China's fundamentals are strong," Gan said on CNBC's"The country's investments in infrastructure will also put it in a good position to recover in the longer term, Gan added.
The FTA in 2004 with Singapore was the U.S.' first with a country in Asia Pacific, and the only such deal with an ASEAN country.
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