SINGAPORE (Thomson Financial) - It may take one to two years for Singapore to conclude a free trade agreement (FTA) with China based on its experience in negotiating with other countries, Deputy Prime Minister Wong Kan Seng said.
Wong's press secretary on Thursday clarified a report in the Straits Times quoting the deputy premier as saying that Singapore can expect to conclude an FTA with China next year.
The press secretary, Toh Yong Chuan, said the newspaper had "misinterpreted" Wong's remarks to journalists following a meeting with visiting Chinese Vice Premier Wu Yi on Wednesday.
Its headline saying that Singapore expects an FTA deal with China by next year was "misleading and incorrect," Toh said.
Asked for a timeline for the Singapore-China FTA, Wong replied that it normally took between one to two years for Singapore to conclude an FTA with other countries, according to an official transcript of his remarks.
"We take between one to two years to have an FTA with the other countries. We think that one and two years could be a reasonable time to look at, and we'll work very hard to make sure we have a good FTA for both sides," Wong said.
Singapore has already signed free-trade pacts with its major trading partners, including the US, Japan, Australia and New Zealand.
Talks on the FTA with China began last October.
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