Singapore keeps hopes up for trade deal amidst global uncertainties

It vows to push ahead with Trans-Pacific Partnership.

Singapore's fate is on the uncertainty as rising protectionism poses risks for the export-dependent nation. According to a report from Bloomberg, it is on its track to post its worst economic performance since the 2009 global financial crisis.

While it is forecasting a 3% growth next year, the city-state faces mounting global concerns that could affect trade, including financial market volatility following the U.K.’s vote to leave the European Union, the threat of debt defaults in China and the aftermath of the U.S. election.

In particular, Ministry of Trade and Industry permanent secretary Loh Khum Yean said Singapore is vowing to push ahead with Trans-Pacific Partnership, the one U.S. President-elect Donald Trump pledged not to revive.

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