BRITISH Minister for Trade and Investment Gareth Thomas arrived in Singapore on Monday evening to kick-off his 10-day tour of South-east Asia and Taiwan to further trade ties.

Free trade and open markets are essential in the global economic downturn, said Mr Thomas, at the start of his visit.

He added: 'In the current economic climate, we must help UK companies to diversify their markets. Exporting can be key to survival for many small businesses'.

'South-East Asia is a growing market for UK companies and my visit is proof that the British Government is committed to doing all it can to help companies make the most of global opportunities.'

Exports to South-East Asia were worth 9.2 billion pounds in 2007 compared to 5.22 billion pounds with China and 4.65 billion pounds with India.

Singapore is a leading investor in the UK and Mr Thomas will be meeting a range of Singaporean investors during his visit.

As the premier location for businesses wanting to expand into Europe, 78 per cent of all Singaporean investment into Europe goes to the UK.

Discussions will also take place with Minister of Trade and Industry Lim Hng Kiang on important trade issues between the UK and Singapore.

The Ministers will discuss the latest situation in the WTO's negotiations - the successful conclusion of these negotiations remains a key priority for the UK.

They will also discuss progress in the EU-Asean Free-Trade Agreement (FTA) negotiations.

Mr Thomas on Tuesday signed a memorandum of understanding on Tuesday with Singapore on the inaugural 2010 Youth Olympics. The MOU will deepen co-operation and sharing of knowledge between Singapore and London in delivering major sports projects, like the London 2012 Olympics, and maximising the business legacy of these events.