On July 19, China National Chemical Information Center (CNCIC) and Singapore Manufacturers' Federation (SMa) signed a cooperation memorandum to announce a global strategic partnership.
The signing ceremony took place at the 2012 China Petrochemical Industry Conference.
Petrochemical trade between China and Singapore has increased by 52 percent in recent years with trade value rising from S$0.89 billion ($715.55million) to S$1.35 billion.
Singapore has become China's second largest petrochemical trade partner in Asia, and China stands as Singapore's largest investment target country.
Cooperation would boost CNCIC’s international influence and help Singaporean enterprises better understand the chemicals market in China.