'Expect regular disruptions in trading environment': Gan Kim Yong | Singapore Business Review - The Latest News, Headlines, Insight, Commentary & Analysis

'Expect regular disruptions in trading environment': Gan Kim Yong

Stronger links with China could help Singapore face these changes, the Minister of Trade and Industry said.

Singapore should be ready to face the continued challenges and instabilities brought by the pandemic, Minister of Trade and Industry Gan Kim Yong said in a speech delivered at the FutureChina Global Forum on 12 July.

“In a state of ‘Never Normal,’ we should learn to expect regular disruptions and constant shifts in our trading environment. But we need to be ever-ready for these changes. We must be nimble and ensure our supply chains remain resilient and open to one another,” Gan said.

There is a need to anticipate supply chain disruptions arising from crises like the COVID-19 pandemic and to bolster Singapore’s readiness to face future crises, he added.

“In this regard, the Southeast Asia region and China are well-placed for businesses to capture new opportunities for trade,” said Gan.

Stronger digital trade with China is amongst the ways cited by the Minister to help not only Singapore, but also the Association of Southeast Asian Nations (ASEAN). Programmes and events in this regard include the Electronic Origin Data Exchange System under the upgraded China-Singapore Free Trade Agreement, the ASEAN Single Window which would be extended to dialogue partners, including China, and China's participation in the World Trade Organization Joint Statement Initiative for E-Commerce.

"Singapore and ASEAN can continue to build on our strong economic linkages with China and uncover new opportunities to enhance physical and digital trade. In doing so, Singapore and  ASEAN can maintain our relevance and continue to thrive as a region," Minister Gan concluded in his speech.

Get Singapore Business Review - The Latest News, Headlines, Insight, Commentary & Analysis in your inbox
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

And SG, US affirm American presence in Southeast Asia as “vital.”
This chart from the inaugural Independent Reserve Cryptocurrency Index shows that more than 50% of Singaporeans believe Bitcoin’s value will increase past $50,000 in 2030.
This included one-off partial distribution of divestment gains of S$20m.
This is attributed to the lower rental reliefs to retail tenants at Festival Walk and higher average occupancy from IXINAL Monzen-nakacho Building.
The Tripartite Committee on Workplace Fairness targets to complete its work by H1 2022.
A total of 811 condos were sold in the last quarter, the highest since Q4 2010.
The SMAs are focused on global infrastructure projects.
The company said their income was driven by its latest acquisitions.
The Jobs Support Scheme has been extended to 18 August.
The bank is now allowing small- and medium-sized enterprises to avail the loan digitally.
Inflation for all items meanwhile remained unchanged at 2.4% YoY.
SMEs that qualify for the UOB Start digital pack will be offered six months of free access.
This was supported by grants extended by the government, such as the Jobs Support Scheme.
The group’s profits after tax ballooned by as much as 138.4%.