Talent is critical to the success of Singapore's trading sector, where decision is key.

To this end, more training programmes will be rolled out to raise the level of talent in the sectors, said Mr S Iswaran, Minister in the Prime Minister's Office, Second Minister for Home Affairs and Trade and Industry.

First, an eight-day Advanced Certificate in Trading programme for graduate students to have foundational knowledge of the trading sector. The inaugural programme started in March, and its pioneer batch of 21 students will complete the course later this month.

Moreover, SMU signed a Memorandum of Understanding with partner university - Singapore University of Technology and Design (SUTD) - to extend some of ITI@SMU's programmes to students of the other school.

Mr Iswaran was speaking to 300 participants who turned up for the fifth anniversary celebrations of the International Trading Institute at the Singapore Management University (ITI@SMU).

In addition, both universities will jointly develop a Trading Associate Programme which will commence next year. Topics covered in the curriculum will include shipping business, trade finance, oil trading and petrochemical trading.

Chief executive of International Enterprise (IE) Singapore Teo Eng Cheong said: "Talent development is a key priority in driving the growth of the trading industry.

"Singapore's trade reahed about $980 million in 2012...about three times our GDP," he added.