The Singapore-China Association for the Advancement of Science and Technology (SCAAST), the first non-governmental body set up on Friday to promote the exchange of science and technology between the two countries.

Speaking at the founding ceremony held here Friday, Grace Fu, Singapore's Senior Minister of State for Ministry of National Development and Ministry of Education, praised China for its economic achievements and development in science and technology.

"China has achieved tremendous advancements and astonishing success in terms of science and technology, manufacturing and city- building. China has now become the base for the manufacturing of worldwide industrial and household products," she said, adding " Industries such as aeronautical engineering, bio-technology, as well as large-scale disease diagnosis and treatment are developing with amazing speed."

She said that there are many areas where Singapore and China can learn from each other. Citing the Suzhou-Singapore Industrial Park and the Sino-Singapore Tianjin Eco-city as joint cooperation examples, Fu said that Singapore is an old friend of China and has the good opportunity to be involved in the process of China's economic liberalization.

She also encouraged the SCAAST to bring about deeper and broader levels of cooperation in science and technology, and enable scientists, inventors, and engineers to forge closer industry ties and collaboration between the two countries.