Singapore well-placed to benefit from changing world trade demands

SINGAPORE - Singapore is well-placed to benefit from a world economy that is en route to making a comeback, said Mr Teo Eng Cheong, chief executive of International Enterprise (IE) Singapore, on Tuesday.

He said that Asia is at the forefront of the growth in world trade - which the World Trade Organisation projected will be back to the 20-year average of 5.3 per cent by 2015 - and Singapore is strategically located in the centre of "this dynamic region".

Mr Teo was speaking at the 6th Annual Asia Trade & Export Finance Conference, held at Raffles City Convention Centre.

He said that Singapore, as a financial hub for the region, has "a pro-business yet effective regulatory environment (which) creates a stable and robust financial system".

"Our economic policies provide stability and confidence to our financial sector. Singapore is the only country in Asia with triple 'A' ratings from all rating agencies."

Mr Teo also noted that Singapore's strong track record in handling commodity trading disputes and its well-developed insurance sector are "well-positioned" to meet the changing needs of businesses.