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Trade Policy Review Body    
 
* In Original language only/ En langue originale seulement /En el idioma original solamente . 
  
SINGAPORE  
DRAFT MINUTES  OF THE MEETING* HELD ON 22 AND 24 SEPTEMBER 2021  
Delegations are invited to submit factual corrections, if any, on their own statement to the 
Secretariat ( Mrs Barbara Blanquart: barbara.blanquart@wto.org , or to  tprd@wto.org ) no later 
than 22 October 2021 . 
 
Organe d'examen des politiques commerciales  
 
SINGAPOUR  
PROJET DE COMPTE RENDU DE LA RÉUNION* TENUE LES 22 ET 24 SEPTEMBRE 2021  
Les délégations sont invitées à soumettre  leurs éventuelles corrections factuelles concernant leurs 
propres déclarations au Secrétariat ( Mme Barbara Blanquart: barbara.blanquart@wto.org , ou 
tprd@wto.org ) le 22 octobre 2021  au plus tard.  
 
Órgano de Examen de las Políticas Comerciales  
 
SINGAPUR  
PROYECTO DE ACTA DE LA REUNIÓN* CELEBRADA LOS DÍAS 22 Y 24 DE SEPTIEMBRE DE 2021  
Las delegaciones pueden enviar a la Secretaría (Sr a. Barbara Blanquart: 
barbara.blanquart@wto.org , o tprd@wto.org ) a más tardar el 22 de octubre de 2021  las 
correcciones fácticas que deseen introducir en sus propias declaraciones.  
 
_______________  
 
  WT/TPR/W/ 195 • Singapore  
 
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  TRADE POLICY REVIEW  
 
SINGAPORE  
DRAFT  MINUTES OF THE MEETING  
Chairperson: H.E. Dr Athaliah Lesiba Molokomme (Botswana)  
CONTENTS  
 
1  INTRODUCTORY REMARKS BY THE CHAIRPERSON  ................................ ......................  3 
2  OPENING STATEMENT BY THE REPRESENTATIVE OF SINGAPORE  ...............................  5 
3  STATEMENT BY THE DISCUSSANT  ................................ ................................ ...............  9 
4  STATEMENTS BY MEMBERS  ................................ ................................ .......................  11 
5  REPLIES BY THE REPRESENTATIVE OF SINGAPORE AND ADDITIONAL COMMENTS  ... 56 
6  CONCLUDING REMARKS BY THE CHAIRPERSON  ................................ ........................  61 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Note: Advance written questions and additional questions by WTO Members, and the replies provided 
by Singapore are reproduced in document WT/TPR/M/413/Add.1 and will be available online at 
http://www.wto.org/english/tratop_e/tpr_e/tp_rep_e.htm.  WT/TPR/W/ 195 • Singapore  
 
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  1  INTRODUCTORY REMARKS BY THE CHAIRPERSON  
1.1.  The eighth Trade Policy Review of Singapore was held on 22 and 24 September 2021. The  
Chairperson, H.E. Dr. Athaliah Lesiba Molokomme (Botswana), welcomed the delegation of 
Singapore, headed by Mr. Lee Chuan Teck, Permanent Secretary (Development), Ministry of Trade 
and Industry; H.E. Ambassador Mr. Tan Hung Seng, Permanent Representative of Singapore to the 
WTO; the rest of the delegation; and the discussant, H.E. Ambassador Mr. Dagfinn Sørli (Norway).  
1.2.  The Chairperson was pleased that, in addition to physical presence, the meeting also benefited 
from the Interprefy online connection, allow ing for a wider participation of the Membership, in 
particular of officials who could not make the journey from Singapore given the current 
circumstances.  
1.3.  The Chairperson recalled the purpose of TPRs and the main elements of procedures for the 
meeting. Th e report by Singapore is contained in document WT/TPR/G/413, and that of the WTO 
Secretariat in document WT/TPR/S/413.  
1.4.  Questions by the following delegations were submitted in writing before the deadline: Canada; 
United States; Australia; Mexico; Republic of Korea; the European Union; Malaysia; the United 
Kingdom; the Philippines; Hong Kong, China; Costa Rica; Oman; Chile; China; Iceland; Brazil; 
Chinese Taipei; and Thailand. The following delegations submitted written questions after the 
deadline: India; J apan; Turkey; Bangladesh; and Indonesia.  
1.5.  At the time of its previous Review in 2016, Members had congratulated Singapore for its strong 
economic fundamentals and successful development model. Members had also praised Singapore's 
openness to trade and inves tment, and for creating an exemplary environment for doing business.  
1.6.  In this context, the Chairperson first focused on Singapore's economic developments since its 
last Review. The Secretariat's report indicates that between 2016 and 2019, Singapore's econ omy 
expanded at an average annual rate of 3.1%. However, in 2020, the COVID -19 pandemic had a 
severe impact on the economy. As a result, GDP contracted by 5.4% in 2020.  
1.7.  In response to the pandemic, the Government put in place a range of fiscal and monetary  
measures through the implementation of five budgets between February and October 2020, worth 
a total of about 20% of Singapore's GDP. The support measures included cash transfers and income 
support, wage subsidies, support for skills upgrading, incentives  to adopt new technologies, and 
other financial support.  
1.8.  The Chairperson was encouraged to read from the Government report prepared for this Review, 
that Singapore had a digitization strategy that enabled its economy to benefit from globalization and 
trade, in which small and medium enterprises accounted for two thirds of the workforce and 
contributed about half of GDP. The Chairperson also noted that Singapore had strategies to build a 
sustainable, resource efficient and climate resilient nation.  
1.9.  In the pr evious Review in 2016, Members had encouraged Singapore to liberalize its remaining 
restrictions on investment and trade in services. A recurring issue of interest was the role played in 
the economy by the State, government -linked companies, statutory boar ds, and their companies. 
Some of these issues had been raised again by Members in the context of the current Review.  
1.10.  During the period covered by this Review, Singapore simplified its banking licensing regime, 
and created a legal framework and development scheme for fintech and e -payment systems.  
1.11.  In addition, some changes were made to the competition legislation and gui delines, mainly to 
enhance the enforcement powers of the competition authority and increase the transparency and 
clarity of the regime. Singapore also amended or promulgated several laws and regulations to update 
its intellectual property regime, facilitat e IP enforcement, and promote innovation and 
commercialization of the resulting IP.  
1.12.  A survey of advance written questions submitted for this Review showed the wide range of 
topics of interest to Members regarding Singapore's trade and investment regimes. M any questions 
were raised concerning export support and promotion, tax and non -tax incentives, competition WT/TPR/W/ 195 • Singapore  
 
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  policy, intellectual property, fintech and e -payments, as well as gender issues, sustainability and 
green economy, including the carbon tax regime, d igital transformation and e -commerce.  
1.13.  Singapore received around 500 advance written questions from 23 Members for this Review, 
out of which 409 were sent within the established deadline. Prior to this meeting, Singapore had 
already provided written replie s to almost all of these questions and the Chairperson looked forward 
to hearing Singapore's updates on these matters during the two -day meeting.  
1.14.  This meeting was a good opportunity for Members to discuss in greater detail issues of interest 
to them and of  systemic importance to the multilateral trading system.  
1.15.  It was also an opportune moment for Singapore to update the Membership on the impact of 
the COVID -19 pandemic on its economy and the measures it had taken in response. The Chairperson 
looked forward to a fruitful exchange.  
1.16.  The Chairperson closed her introductory remarks by wishing Singapore a very successful 
eighth Trade Policy Review.  
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  2  OPENING STATEMENT BY THE REPRESENTATIVE OF SINGAPORE (MR. LEE CHUAN TECK)  
2.1.  Madam Chair, Ambassadors, distinguished R epresentatives, I am pleased to be here in Geneva 
to participate in Singapore's 8th Trade Policy Review. Allow me to first express my appreciation to 
Ambassador Sorli, Permanent Representative of Norway, for being the discussant for Singapore's 
TPR, and to  the Secretariat for the hard work in preparing the report and organizing the proceedings.  
2.2.  Singapore attaches great importance to the trade policy review process, which we regard as a 
critical function of the WTO. The TPR process enhances accountability an d encourages Members to 
learn from each other. This year, we have received an unprecedented number of questions from 
Members – 500 questions. We are honoured by the keen interest that Members have shown in our 
policies and practices even amidst the hectic preparations for the 12th Ministerial Conference.  
Transition to a COVID -Resilient State  
2.3.  Allow me to first share with you a brief update on the state of the Singapore economy. Madam 
Chair has already touched on this previously. The COVID -19 pandemic is the crisis of a generation 
that has inflicted devastating human and economic costs globally. It has upended our economies 
and the lives of people everywhere. Like all Members, Singapore has been severely impacted by the 
pandemic, especially given our openness and heavy reliance on trade. We experienced our worst 
full-year ever recession in 2020. The Singapore economy contracted by 5.4% as we grappled with 
both demand and supply -side shocks. Our outward -oriented sectors such as tourism, logistics, and 
profession al services were particularly impacted due to the precipitous fall in external demand and 
extensive supply chain disruptions. As an air hub, Singapore suffered badly as visitor arrivals 
plummeted by more than 85%, and commercial aircraft movements plunged by more than 67% in 
2020.  
2.4.  To help support our people, workers and businesses through this unprecedented crisis, 
Singapore committed fiscal resources amounting to about 20% of our GDP to provide economic and 
social support, as well as public health measures  in 2020. The bulk of our support was delivered in 
the Job Support Scheme – where we encouraged firms to preserve jobs by defraying 25% to 75% 
of employees' wages.  
2.5.  One and a half year since the onset of COVID -19, the COVID -19 cases continue to rise globall y, 
including in Singapore, due to the spread of highly transmissible variants. But we are beginning to 
see some light at the end of the tunnel. Despite a rise in infections due to the Delta variant, our high 
vaccination rates have given us comfort as our e xperience thus far suggests that vaccination can 
significantly weaken the link between infections and deaths. If this observation can be affirmed over 
time, it will pave the way towards a calibrated re -opening of our economy as we learn to adapt to 
an ende mic COVID -19 world.  
2.6.  Responding to the challenges of the pandemic requires a fine balance between the twin 
objectives of ensuring public health safety and preserving economic livelihoods. Striking the right 
balance is made even more challenging because we a re dealing with a novel virus and there are 
many "unknown unknowns".  
2.7.  We will need to adjust this balance constantly. So far, our economy has rebounded fairly well 
this year. Our manufacturing sector grew by 14% in the first half of 2021, supported by outpu t 
expansions in most manufacturing clusters. In particular, we expect robust growth in our electronics 
and precision engineering clusters on the back of strong semiconductor and semiconductor 
equipment demand.  
2.8.  The challenges brought about by the pandemic h ave also not deterred companies from 
investing in Singapore, including in new segments of growth in areas such as Agri -food tech and 
advanced manufacturing. In the case of agri -food tech, we are leveraging on Singapore's unique 
farm-to-fork ecosystem and t rack record for technical capabilities, quality branding, and IP 
protection. We are also committed to growing our manufacturing sector by 50% in the next 10 years 
for Singapore to become a global business innovation and talent hub for advanced manufacturin g. 
2.9.  We want to ride on the exigencies of the crisis to spur upgrading and transformation in our 
firms. We have convened industry -led coalitions called "Alliances for Action" that work in partnership WT/TPR/W/ 195 • Singapore  
 
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  with the Government to act on emerging growth opportunitie s, such as supply chain digitalization, 
sustainability, digitalizing construction, smart commerce, robotics, and so on. Take supply chain 
digitalization, for example. We recently launched the Singapore Trade Data Exchange to facilitate 
trusted and secure s haring of data through the regulatory, logistical, and financial ecosystems in 
trade. As a public and neutral infrastructure that can connect to local and global data systems, 
SGTraDex, as it is called, can become an end -to-end enabler of supply chain ecos ystems in 
Singapore and globally.  
2.10.  Taking these factors and policies into consideration, Singapore recently upgraded our GDP 
growth forecast for 2021 from 6% to 7%. Barring a major setback in the global economy and a 
significant spike in COVID -19 cases loca lly, we should attain our pre -COVID level of GDP by the end 
of the year.  
2.11.  However, our economic recovery will be uneven. The outlook for sectors worst hit by the 
pandemic like tourism - and aviation -related sectors remain weak as a substantial re -opening of 
international borders will not occur in the near term. Similarly, consumer -facing sectors such as 
retail, and food and beverage services are also not expected to return to pre -pandemic levels within 
the year, partly because of the slow recovery in tourist arrivals. The outlook of labour -intensive 
sectors such as construction has been dampened by manpower shortages due to border restrictions. 
As a small open economy, we are also subject to the vagaries of the global economy and will need 
to be nimble to over come any challenges that come our way.  
Seizing Opportunities in Digital Economy and Sustainability  
2.12.  While the pandemic has brought disruptions, it has also thrown up many opportunities. 
Singapore hopes to work with Members in these new areas of growth so th at we can collectively 
emerge stronger from the crisis. Allow me to highlight two areas which Singapore sees as the next 
frontier of economic recovery and growth.  
2.13.  First, the digital economy. Singapore recognizes the importance of digitalization. The growth  
of the digital economy has been hastened by the pandemic. Our goal is to transform our economy 
to be digital end -to-end. This includes:  
a) Actively reaching out and on boarding small local companies, even food hawkers, to also be 
part of the digital economy;  
b) Digitalizing each stage of the business process within firms by fully integrating front -end 
operations with back end, so that transactions are fully paperless and presence -less; and  
c) Ensuring that digital systems are inclusive and inter -operable ac ross firms.  
2.14.  We are also interested to work with like -minded partners to create an open, trusted global 
digital commons to unlock more opportunities for all countries, large and small companies, and 
individuals alike.  
2.15.  To this end, Singapore has developed a network of digital economy agreements (or DEAs) 
with countries such as Australia, Chile, and New Zealand to complement our efforts at the Joint 
Statement Initiative (JSI) on E -Commerce. Through our DEAs, we aim to help establish common 
frameworks, inter -operable standards and rules for digital trade that would allow businesses to 
connect seamlessly with overseas partners. This includes promoting the use of electronic trade 
documents and cross -border e -payment and e -invoicing networks. Further, by facilitati ng the cross 
border flow of data, which underpins the digital economy, in a trusted and secure manner, the DEAs 
seek to open up new possibilities to businesses and how they operate, be it in data analytics, 
providing insights on consumer trends and prefere nces to payroll processing.  
2.16.  Second, sustainability and the green economy. Climate change and environmental policies 
are increasingly shaping economic growth and trade. Sustainability must be mainstreamed into 
economic activities to achieve global carbon em ission reductions, while supporting prospects for new 
green activities. In particular, Singapore sees a need to develop new green capabilities such as green 
financing, carbon services and low carbon solutions. Earlier this year, we launched the Singapore WT/TPR/W/ 195 • Singapore  
 
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  Green Plan, which sets out a Whole -of-Nation movement to advance Singapore's agenda on 
sustainable development with ambitious and concrete targets over the next 10 years.  
2.17.  As in the case of the digital economy, we are also exploring Green Economy Agreements (or 
GEAs) with like -minded partners. We believe that sustainable development and economic growth 
must go hand in hand and ensure that environmental protection is upheld, even as we achieve 
economic growth. Some issues that Singapore would be keen to addres s both in and outside of the 
GEAs include:  
a) Carbon trading and related services to provide quality and cost -effective ways to meet 
emissions reduction targets;  
b) Green financing to facilitate investments into green technologies, products and services; and  
c) Low carbon energy solutions, such as hydrogen.  
2.18.  Climate change is a challenge that demands all Members, big or small, to work together. 
There is tremendous scope for us to learn from each other, share experiences, and test ideas through 
cooperative projects. S ingapore is committed to play our part in the global fight against this 
generational challenge.  
Singapore's Commitment to the WTO  
2.19.  The rules -based multilateral trading system, as embodied in the WTO, is the cornerstone of 
our trade policy and we continue to play an active and constructive role at the WTO.  
2.20.  First, Singapore has, and will continue to support efforts to strengthen the WTO. Singapore 
hosted the first Ministerial Conference (MC) in 1996. In fact, the current WTO logo was adapted from 
the logo originally created by Singapore -based Su Yeang Design for the first MC. Over the years, 
Singapore has continued to contribute wherever and whenever we can by serving in WTO's bodies 
and collaborating with Members to strengthen the WTO as the corners tone of the rules -based 
multilateral trading system. Given Singapore's commitment to maintain a two -tier binding dispute 
settlement mechanism, we became a founding participant of the Multi -Party Interim Appeal 
Arbitration Arrangement (or MPIA), which ensur es that disputes at the appeal stage can continue to 
be adjudicated via arbitration amongst MPIA participants notwithstanding the ongoing Appellate 
Body impasse. However, we view this as a temporary arrangement which should not replace the 
restoration of t he Appellate Body. Singapore will continue to support all efforts aimed at restoring 
the full functioning of the Dispute Settlement Mechanism.  
2.21.  Second, Singapore recognizes the importance of ensuring that the WTO remains open and 
inclusive to all Members an d stakeholders. Since 1995, we have collaborated with the WTO to deliver 
training and technical assistance on international trade issues through our Third Country Training 
Programmes. To date, Singapore and WTO have jointly conducted 45 Third Country Train ing 
Programmes for over 900 government officials from the Asia -Pacific, Africa, and Latin America 
regions. Despite the COVID -19 restrictions this year, Singapore and the WTO jointly organized two 
virtual workshops on Food Supply Chains and Advanced Dispute  Settlement, with a third virtual 
dialogue in the pipeline that is scheduled for October 2021.  
2.22.  Third, we believe that the WTO should be relevant and equipped to respond to evolving global 
challenges, especially the relentless pace of digital transformation  that is re -shaping the global 
economy and trade. In this context, Singapore plays an active role in the Joint Statement Initiatives 
(or JSIs), as co -convener of the JSI on E -Commerce alongside Australia and Japan.  
2.23.  I am pleased to announce that Singapore w ill join the JSI on Services Domestic Regulation. 
We have taken time to review our regime and are ready to actively participate in the discussions. 
We will be submitting our draft schedules shortly and look forward to working closely with 
participants to s ubstantially conclude this initiative at MC12.  
2.24.  In addition to supporting efforts to strengthen the WTO, Singapore continues to pursue deeper 
economic integration and connectivity with key partners. These two prongs complement each other 
to strengthen the r ules-based multilateral trading system and help to grow global trade. At the onset WT/TPR/W/ 195 • Singapore  
 
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  of and throughout the pandemic, Singapore has strived to be a responsible member of the 
international community. We continued to maintain free flow of goods and services and  did not 
impose export controls. For example, we initiated, together with New Zealand, the Singapore -New 
Zealand Joint Ministerial Statement in March 2020 to affirm our shared commitment to ensure that 
supply chains remain open and connected for essential goods. We are pleased that 10 additional 
Members subsequently joined us as co -sponsors. At the regional level, Singapore and other ASEAN 
Member States issued the MOU on Implementation of Non -Tariff Measures of Essential Goods under 
the Hanoi Plan of Action  in November 2020 as part of the regional response to the pandemic. 
Similarly, Singapore has strongly supported initiatives such as the COVAX Facility. We have also 
contributed to the COVAX Advance Market Commitment, to support affordable and equitable acc ess 
to vaccines for low and lower -middle income economies.  
2.25.  We have also been deepening our bilateral and regional engagements with a view to 
complement the rules -based multilateral trading system. During the period under review, Singapore 
signed five new a greements – namely, the Sri Lanka -Singapore FTA (SLSFTA), the Comprehensive 
and Progressive Trans -Pacific Partnership (CPTPP), the EU -Singapore FTA (EUSFTA), the 
UK-Singapore FTA (UKSFTA), and the ASEAN -led Regional Comprehensive Economic Partnership (or 
RCEP).  
Conclusion  
2.26.  Throughout our history, Singapore has always been a place where goods, people, and ideas 
congregate. This remains our aspiration – to be a global node for technology, innovation, and 
enterprise – a "nerve centre" that adds value to the flo w of capital, goods, services, and people. As 
a small and open economy, Singapore cannot afford to be closed off to the world. The global economy 
and the multilateral trading system are critical for our economic growth and improving the lives of 
our people . We will continue to do our best and look forward to working alongside other Members 
to strengthen the WTO's role and relevance for the future.  
2.27.  In closing, allow me to reiterate my appreciation to Members for all your questions and active 
participation in Singapore's 8th Trade Policy Review. Thank you.  
  WT/TPR/W/ 195 • Singapore  
 
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  3  STATEMENT BY THE DISCUSSANT  
Introduction  
3.1.  I am delighted to act as discussant in this 8th Trade  Policy Review of Singapore. I would like 
to join in welcoming the delegation from Singapore, headed by Permanent Secretary of the Ministry 
of Trade and Industry, Mr Lee Chuan Teck, as well as my good colleague, Ambassador Tan Hung 
Seng and his team here i n Geneva.  
3.2.  Sir Winston Churchill is credited with the phrase that one should "Never let a good crisis go to 
waste". The point being that a crisis provides an opportunity to learn from failures and successes, 
to adjust our course of action, and to be better prepared for the future.  
3.3.  This Review covers an extraordinary period when the global economy was shaken and is still 
reeling under pressure from the ongoing pandemic. In addition, the signs of the challenges related 
to climate change have become more freque nt and alarming. This period has also seen increasing 
challenges for international cooperation in general and for the multilateral, rules -based trading 
system in particular – challenges that have been augmented by the pandemic.  
Macroeconomic trends  
3.4.  Let me start by highlighting a few points related to macroeconomic policies, which, on the 
background of the global shock caused by the pandemic, merits particular attention.  
3.5.  A first point to note is that Singapore was in a relatively good position to deal wit h the fall -out 
from the pandemic. This position was not the result of luck or divine intervention, but rather the 
result of hard work and consistent policies over many years. As the Secretariat's report points out, 
Singapore's economy has long been charact erized by solid growth, an inflation under control, very 
low unemployment, comfortable fiscal and monetary reserves, financial stability, and openness to 
international trade and investment.  
3.6.  This stability and fundamental soundness in macroeconomic policies  has not only resulted in 
impressive improvements in people's living standards. It also provided the government with ample 
policy space to address effectively the challenges related to the pandemic, including through fiscal 
measures.  
3.7.  As a consequence, Sing apore has been able to prevent a more drastic trajectory, and recovery 
seems to be on track even if external risks persist. Both unemployment and inflation seem to be 
back at a normal level. And the current account surplus has been resilient throughout the  period 
under review.  
3.8.  A second point to take note of is Singapore's focus on addressing longer -term challenges. 
Singapore has been successful in overcoming limitations related to the size of its territory and limited 
natural resources, while successfully l everaging its comparative advantages such as its strategic 
location. Today, Singapore is a regional and global hub for trade, transport, and finance.  
3.9.  Singapore's position also means exposure to trade tensions and volatility in international 
markets. In the  short term, the further development of the pandemic and how this effects the global 
economy, represents significant uncertainty. While openness to the outside world will continue to be 
fundamental to Singapore's prosperity, the risk factors must be acknow ledged and addressed.  
3.10.  Looking ahead, Singapore faces challenges related to the labour market, innovation, 
technological changes, as well as an ageing population. In this context, the ambitious agenda for 
economic transformation that Singapore has embarked upon should be acknowledged. The stated 
objective is to build a value -creating economy that is open and connected to the world, by building 
skills and capabilities, and supporting innovation and digitalization. Singapore's plans for investing 
in climate -resilient infrastructure deserves mention as well, as these will benefit both current and 
future generations.  
3.11.  In other words, there are lessons to be learned from Singapore's example. Consistency and 
prudence in macroeconomic policies not only creates a soli d foundation for economic growth and WT/TPR/W/ 195 • Singapore  
 
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  improved living conditions, but also a robust foundation for addressing external shocks. Secondly, 
limitations and challenges can be overcome by strategic policy choices, including by leveraging 
strengths in an open exc hange with the rest of the world.  
Trade and investment regime  
3.12.  Singapore is one of the most open economies of the world and has been able to benefit 
immensely from that openness, lifting the living standard of its population beyond the level of many 
develop ed economies.  
3.13.  Both the Government and Secretariat reports point to the fact that policies in relation to trade 
and investments remain largely unchanged. Whether we are talking about tariffs, customs 
procedures, import controls, export controls, technical b arriers to trade, the investment regime, the 
framework for government procurement or the IP regime, the fundamentals have remained 
unchanged during the review period, with any adjustments being just that. I have also noted the 
statement that the negative c onsequences of the pandemic have reinforced the commitment of 
Singapore to stay connected with and open to the world.  
3.14.  Given the fact that Singapore is deeply embedded in regional and global value chains, while 
still being a relatively small player, it is n ot surprising that Singapore is among the strongest 
defenders of the multilateral rules -based trading system, while at the same time pursuing regional 
and plurilateral agreements that complement the multilateral system. In the WTO we have long 
benefitted f rom Singapore's engagement and insight across the board of our work in our regular 
bodies, as well as in multilateral and plurilateral processes.  
3.15.  Trying to find elements in Singapore's trade and investment policies that are worthy of a more 
critical light is actually quite challenging. Permit me, however, to touch upon a few issues that I 
believe merits some attention.  
3.16.  One of those elements is the fact that some 30% of all tariff lines are still unbound. I am of 
course aware of the fact that tariffs are app lied at zero, except for a few product lines, but this is 
nevertheless an area where additional predictability to traders could be achieved, in addition to being 
of systemic significance.  
3.17.  Another point I would like to comment on is the major role played by  state-owned enterprises 
or government -linked corporations in Singapore. I mention this because SOEs or GLCs are associated 
with non -market practices in some member economies, meaning that this is an issue that we may 
have to deal with in a more forceful w ay in this House in the future. Now, in my view, ownership is 
not the main question, but how these corporations operate. If they operate on the basis of market 
principles, then the ownership structure is less relevant. But to understand how SOEs operate an d 
to be able to conclude whether their activities are based on market principles or not, transparency 
is fundamental.  
3.18.  On my final point, I will have to deviate from my original manuscript. My intention was to 
encourage Singapore to join the Services Domest ic Regulation Joint Statement Initiative. I am very 
happy and pleased to hear the recently announcement that you have decided to join the JSI on 
Services Domestic Regulation and you are, indeed, very welcome in this group of countries who now 
represent mor e than 85% of global trade in services.  
Concluding remarks  
3.19.  Stability is a word that comes to mind when describing Singapore, also as a general 
characterization of its approach to trade policy. Singapore's openness to trade and integration into 
the world economy has laid the foundation for steady growth and economic and social development, 
resulting in one of the highest living standards in the world. There are many good reasons to 
congratulate Singapore on its achievements. Nevertheless, in all coun tries there are room for 
improvements and adjustments. Constructive input and feed -back from fellow Members of the WTO 
can hopefully contribute positively in that regard. I wish Singapore a successful Trade Policy Review. 
Thank you.  
  WT/TPR/W/ 195 • Singapore  
 
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  4  STATEMENTS BY MEMBERS  
CANADA  
4.1.  Canada joins other WTO Members in welcoming Mr. Lee Chuan Teck and the other members 
of the delegation of Singapore today . We are very pleased to participate in the eighth Trade Policy 
Review of Singapore. We thank the Singapore Government and the WTO Secretariat for their reports.  
4.2.  I think it is fair to say that Canada and Singapore share the objective of developing our 
knowledge -based economies and by preparing for the challenges of the future. We both recognize 
that supporting and contributing to  the global multilateral system, enhancing regional trade 
cooperation, and promoting an inclusive and sustainable trade policy will be key to navigating the 
post-pandemic economic landscape.  
4.3.  We would like to thank Singapore for its steadfast commitment to  upholding the multilateral 
trading system and being a strong advocate for maintaining open supply chains throughout the 
pandemic. The Joint Ministerial Statement on Ensuring Supply Chain Connectivity, spearheaded by 
Singapore and New Zealand, sends a stro ng signal of our commitment to ensure the continuity and 
interconnectivity of supply chains both during the pandemic and during the post -pandemic recovery 
period. We also appreciate Singapore’s strong engagement and support on strengthening the WTO 
includi ng through its work within the Ottawa Group on WTO Reform, and active participation and, in 
fact, leadership in Joint Statement initiatives, particularly on e -commerce and on investment 
facilitation for development, and also on efforts to promote the adopt ion of a declaration that would 
prohibit the use of export restrictions on foodstuffs purchased for non -commercial humanitarian 
purposes by the World Food Programme. We also welcome Singapore’s engagement and 
endorsement of the Multi -Party Interim Appeal -Arbitration Arrangement (MPIA). Furthermore, we 
welcome the news that Singapore will be joining the JSI on Services Domestic Regulation, and we 
encourage Singapore to endorse the Buenos Aires Declaration on Women and Trade.   
4.4.  In the period under review, Sin gapore has made significant strides in pursuing open and freer 
trade, for example with the entry into force of the EU -Singapore FTA, the conclusion of bilateral FTAs 
with both Sri Lanka and the United Kingdom, and plurilateral agreements, including the CPT PP and 
the RCEP. We are very proud to partner with Singapore under the umbrella of the CPTPP as Canada 
deepens its economic integration in the region, and as we work together on the accession of new 
members, including the United Kingdom.   
4.5.  During the perio d under review, Singapore had the foresight to both develop global digital 
infrastructure and implement initiatives to help small and medium sized enterprises capitalize on 
digital technologies and pursue international opportunities for growth. With COVID -19 having 
transformed the way companies do business, these efforts will have positioned Singaporean 
companies well to weather the economic storm. The Digital Economy Agreements that Singapore is 
party to will help ensure a level playing field for internati onal trade flow in global digital economies.  
4.6.  We also note the active role that Singapore plays in the Association of Southeast Asian Nations 
(ASEAN), and I would like to point out that, as a group, ASEAN ranks as Canada’s fifth largest trading 
partner, an d remains a top priority for the Government of Canada.  
4.7.  Singapore, it appears, like Canada, is committed to creating a more inclusive economy to 
ensure that the benefits of globalization and international trade are enjoyed by all of our citizens. 
Singapore  will note that we have asked a number of questions seeking to better understand 
Singapore’s experience in this regard.  
4.8.  We look forward to a constructive exchange of views on all aspects of Singapore’s trade regime 
and its multi -faceted economy. We do app reciate the responses from Singapore to our questions 
and wish the delegation of Singapore the utmost success during this Trade Policy Review.  
UNITED  STATES  
4.9.  The United States welcomes Permanent Secretary, Mr. Lee Chuan Teck and all other members 
of Singapo re’s delegation. We look forward to today's discussion, in part because of our strong WT/TPR/W/ 195 • Singapore  
 
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  partnership with Singapore and the significant contributions Singapore has made to the global 
trading system.  
4.10.  As the discussant noted, Singapore's importance as a trading  nation surpasses its size and 
population. For the United States, Singapore is our 17th largest goods trading partner, with 
USD 57.8 billion in two -way goods trade. Singapore is our 10th largest services trading partner, with 
USD 35.9 billion in two -way se rvices trade. Our bilateral FTA with Singapore, our first in Asia, has 
been in effect since 2004 and has led to a 116% increase in our total two -way goods and services 
trade, significantly benefiting both our nations. The combined stock of our investment i n each other's 
country is USD 298.1 billion. We also note that for more than two decades, Singapore overall has 
maintained exceptionally large trade surpluses in relation to its total economic output.  
4.11.  We commend Singapore's leadership on trade, particularl y during the global pandemic. 
Singapore understands the importance of trade for resolving this century’s most pressing challenges, 
including climate change. Over the past year, Singapore has worked with trading partners on supply 
chain resiliency for medic al goods such as personal protective equipment and continues to serve as 
a co-convener of WTO discussions on rules for digital trade, which has grown exponentially since the 
conclusion of the Uruguay Round in the mid -1990s.  
4.12.  The United States warmly welcome s Singapore’s participation in the Joint Statement Initiative 
on Services Domestic Regulation.  
4.13.  We are working with other members of the JSI to ensure that we achieve a strong substantive 
outcome on services domestic regulation by MC12.  
4.14.  Recalling a recent s tatement of the APEC Group on Services that notes the benefits of this 
agreement and calls upon others to join, we hope that Singapore’s announcement today will 
encourage its regional neighbours to also join.  
4.15.  Singapore has been an important partner in the WTO and we want to acknowledge the efforts 
of Ambassador Tan and his whole Mission here, in their leadership and vision as both chair and active 
participants across a wide range of committees and in the important digital trade work. Singapore 
has been a pa rtner in addressing longstanding problems that have undermined the negotiating arm 
of this Organization. In September 2019, Singapore announced that it would no longer seek S&D in 
current and future WTO negotiations. This act of leadership serves as an exa mple to others who 
seek to support the multilateral trading system. We are also pleased that Singapore has joined on 
as one of 18 co -sponsors of the proposal to enhance transparency and improve compliance with 
notification requirements, recognizing that no tification reform is essential if the WTO is to function 
as a viable forum for meaningful negotiations that are beneficial to all Members. We look forward to 
continuing to work with Singapore to advance that issue.  
4.16.  Singapore is also a supporter of a statement that recognizes the contribution of the Trade 
Facilitation Agreement to the pandemic response and a co -sponsor of the joint proposal to establish 
a work programme in the SPS Committee to help WTO Members understand new and emerging 
issues in SPS.  As we noted before, Singapore has also played a valuable role in seeking a solution 
for export restrictions facing purchases of foodstuffs for humanitarian purposes as Canada noted 
before. The United States finds itself in the rather unusual position of b ringing very little criticism to 
this TPR. In advance of this Review, we provided a short list of questions to Singapore on several 
trade policy issues, including those related to bilateral and regional trade agreements, budget and 
taxation, environment, f ood labelling, intellectual property, and technical barriers to trade. We thank 
Singapore for its responses. During the discussion today, we are also interested in learning more 
about Singapore’s ideas for a worker -centric trade policy.  
4.17.  We look forward to further cooperation with Singapore on all fronts – bilaterally, regionally, 
and here at the WTO. Thank you and best wishes for a successful TPR.  
AUSTRALIA  
4.18.  Australia welcomes the opportunity to participate in Singapore’s Trade Policy Review. We have 
a longs tanding, close and comprehensive bilateral relationship with Singapore, anchored in strategic 
trust and economic cooperation. The upgraded Singapore -Australia Free Trade Agreement (SAFTA) WT/TPR/W/ 195 • Singapore  
 
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  (signed December 2017) forms the central pillar of our trade and eco nomic relationship alongside 
the Comprehensive Strategic Partnership (CSP) which underpins the entirety of our bilateral 
relationship.  
4.19.  Singapore is a substantial bilateral trading partner for Australia — our largest trading partner 
in ASEAN and our sixth la rgest trade relationship overall — with a total of AUD26.5 billion 
(USD  18.3 billion) in two -way trade in 2020. Singapore is also the sixth -largest source of foreign 
investment in Australia (valued at AUD 116.5 billion in 2020, representing 2.9% of total fo reign 
investment in Australia).  
4.20.  Australia recognises Singapore’s commitment to an open global trade and investment regime 
and the importance it places on supporting and promoting free trade and open markets. The open, 
rules-based, multilateral trading sys tem will be a critical component of global restoration and 
recovery as the world confronts and eventually transitions from the economic impact of the 
COVID -19 pandemic. Australia commends Singapore’s own economic recovery.  
4.21.  Australia and Singapore are both strong, long -time supporters of the WTO and share a 
commitment to transparency and the maintenance and strengthening of the multilateral trade 
system. We have worked together to advance many initiatives in the WTO aimed at liberalising and 
promoting global  trade and its institutions. We commend Singapore’s role as co -convener, along 
with Australia and Japan, of the E -commerce Joint Statement Initiative (JSI) and today’s decision 
that you just announced on domestic regulation highlights that leadership conti nuing. Your decision 
today will add new momentum to the initiative which is gathering strong number of Members and 
momentum as we hit the MC12. So, we commend for that decision too. We value your commitment 
to the dispute settlement mechanism at the WTO an d your participation in the Multi -Party Interim 
Appeal Arbitration Arrangement is an example of your commitment to the system.  
4.22.  Australia continues to welcome Singapore’s commitment to bilateral trade liberalization. The 
Singapore -Australia Free Trade Agree ment (SAFTA) has been critical to the economic integration of 
our economies and continues to deliver real trade and investment outcomes, including professional 
services gains. Through the implementation of the Digital Economy Agreement (DEA), which 
upgrade d the SAFTA E -Commerce Chapter, we are implementing strong digital trade rules and 
cooperation on emerging digital economy issues. Leveraging technological change and the trade 
opportunities it presents will make a valuable contribution to our countries’ e conomic recoveries 
from COVID -19. 
4.23.  Australia would also like to acknowledge Singapore’s ratification of the Regional 
Comprehensive Economic Partnership Agreement (RCEP) in April this year - a sign of Singapore’s 
continued progress towards regional trade lib eralisation. We also commend your commitment to the 
Comprehensive and Progressive Agreement for Trans -Pacific Partnership (CPTPP) and your 
commitment to the upgrade of the ASEAN -Australia Free Trade Area (AANZFTA).  
4.24.  Australia would like to make specific men tion of Singapore’s Green Plan as a core strategy to 
address climate change. The Plan promotes the adoption of clean energy technologies that are 
scalable and commercially competitive. Increasing trade in these technologies is a key channel 
through which t he Plan will be realised. We are also pleased to be working with Singapore to 
negotiate a bilateral Green Economy Agreement (GEA), following on from our Low Emissions MOU. 
The GEA will complement the Green Plan and will be critically important in integrati ng our two 
economies in ways that increase our ability to act on climate change, including by developing 
relevant trade, industrial capacity and infrastructure.  
4.25.  Australia is also pleased to be working with Singapore in the WTO on efforts to liberalize 
environmental goods and services trade to foster diverse and resilient low emissions technology and 
facilitate climate change emissions abatement at a global level.  
4.26.  Australia has submitted several written questions to the TPR and we appreciate Singapore's 
prompt responses. We comment their efforts on trade policy and on transparency through this 
Review and we wish them all the best with the rest of the review process.  
  WT/TPR/W/ 195 • Singapore  
 
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  MÉXICO  
4.27.  México da la más cordial bienvenida a la delegación de Singapur, encabezada por el S eñor 
Lee Chuan Teck, Secretario Permanente en el Ministerio de Industria y Comercio. Asimismo, 
agradezco al Embajador Dagfinn Sørli (Noruega) por su análisis minucioso y a la Secretaría de la 
OMC por el arduo trabajo realizado para la elaboración de su inf orme.  
4.28.  Por otra parte, me permito reconocer el compromiso de Singapur con el sistema multilateral 
de comercio que se ve reflejado en la destacada labor del Embajador Hung Sen y su equipo en los 
trabajos de la OMC.  
4.29.  Actualmente, Singapur tiene uno de los PIB per cápita más elevados de Asia, esto gracias a 
la aplicación de políticas públicas sólidas y consistentes, lo que ha derivado en que el ingreso per 
cápita se haya más que duplicado y que el nivel de vida denote una mejora considerable en las dos 
últimas d écadas. Destaca que, en 2020, Singapur ocupó la onceava posición (de 189 países) en el 
índice de desarrollo humano del Programa de las Naciones Unidas para el Desarrollo.  
4.30.  Respecto al manejo de la pandemia de COVID -19, México felicita a Singapur por la ejec ución 
de los cinco programas de apoyo a la economía, entre las medidas figuran: desgravaciones de los 
impuestos sobre los bienes inmuebles y sobre la renta de las sociedades; exenciones de alquileres; 
la concesión de financiación asequible, especialmente p ara las pequeñas y medianas empresas 
(pymes), entre otras, para mitigar los efectos de la caída del 5,4% de su PIB en el 2020. Al respecto, 
las autoridades esperan que la economía se continúe recuperando gradualmente durante el resto de 
2021, aunque de for ma desigual entre los sectores.  
4.31.  Singapur y México sostienen una relación comercial bilateral importante, gracias al Tratado 
Integral y Progresista de Asociación Transpacífico (CPTPP por sus siglas en inglés), a través del cual 
el 88% de los aranceles del c omercio se eliminaron a partir de la entrada en vigor. Esperamos que 
nuestros intercambios comerciales y de inversión se fortalezcan en los siguientes años en beneficio 
de nuestros consumidores.  
4.32.  En la OMC, valoramos el liderazgo y compromiso de Singapur co n el fortalecimiento del 
Sistema Multilateral del Comercio, al coordinar, junto con Japón y Australia, las negociaciones sobre 
Comercio Electrónico, así como de su destacada participación en las iniciativas conjuntas de 
facilitación de las inversiones y a las microempresas y pequeñas y medianas empresas.  
4.33.  México reconoce los esfuerzos que Singapur ha llevado a cabo en materia del régimen 
inversión, al implementar una política dirigida a atraer la inversión extranjera. Sin embargo, llama 
a nuestra atención la s limitaciones respecto de la propiedad extranjera y el ámbito de actividad y 
ciertas restricciones en materia de residencia en sectores considerados estratégicos y/o 
fundamentales para la seguridad nacional, como la radiodifusión, los medios informativos 
nacionales, los servicios bancarios minoristas, los servicios jurídicos y de contabilidad, los puertos y 
aeropuertos, y la propiedad de inmuebles residenciales.  
4.34.  Con relación a los compromisos de acceso a mercados de la Ronda de Uruguay, el 30% de 
las líne as arancelarias siguen sin consolidar, confiamos que Singapur trabajará en este tema, a fin 
de dotar de previsibilidad a los operadores comerciales.  
4.35.  Por otra parte, México felicita a Singapur por los apoyos que concede a las empresas para 
que adopten nueva s tecnologías e inviertan en investigación y desarrollo (I+D), especialmente por 
el nuevo programa de Incentivos para el Desarrollo de la Propiedad Intelectual.  
4.36.  En materia de servicios, Singapur continúa contando con un sector financiero sólido y con un 
alto grado de internacionalización. Durante el periodo de examen, implementó una serie de mejoras 
en su marco legal en materia de lucha contra el blanqueo de dinero y financiación del terrorismo, 
así como la introducción de simplificaciones en su régimen de  licencias bancarias. Estamos 
convencidos, que con estas medidas Singapur seguirá siendo un referente internacional y uno de los 
principales centros financieros del mundo.  
4.37.  Así mismo, México reconoce y felicita a Singapur por otorgar una de las proteccione s más 
sólidas del mundo a los derechos de propiedad intelectual. Para lo cual, Singapur implementó nuevas WT/TPR/W/ 195 • Singapore  
 
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  leyes y reglamentaciones sobre patentes, dibujos y modelos industriales, marcas, indicaciones 
geográficas, derechos de autor y solución de diferencias . México coincide con Singapur en la 
importancia y beneficios que tiene la propiedad intelectual, especialmente para dar a los innovadores 
y a las empresas seguridad en cuanto al alcance de sus derechos.  
4.38.  Para finalizar, reconocemos el gran trabajo que Singapur ha llevado a cabo en materia de 
eficiencia energética, aunque el suministro de energía creció durante el período objeto de examen, 
a partir de 2017 sus emisiones de CO2 comenzaron a disminuir en términos absolutos, lo que podría 
sugerir una crecie nte ecologización de la economía de Singapur en general y una posible tendencia 
de desvinculación entre el crecimiento, que siguió siendo sólido, y las emisiones.  
4.39.  Por último, agradecemos a Singapur por las respuestas proporcionadas a las preguntas 
formulad as por mi delegación y le deseamos el mejor de los éxitos en el presente Examen.  
REPUBLIC  OF KOREA  
4.40.  I would like to join other speakers in welcoming His Excellency, Mr. Lee Chuan Teck, 
Permanent Secretary in the Ministry of Trade and Industry and his delega tion to the 8th Trade Policy 
Review of Singapore. I also thank Ambassador Dagfinn Sørli for his role as a discussant and the 
Secretariat for its comprehensive and informative report.  
4.41.  Korea and Singapore have maintained a strong bilateral economic relation ship with the Korea -
Singapore Free Trade Agreement  (FTA) at its center. Our bilateral FTA with Singapore, Korea’s 
second in the world, has been in effect since 2006 and has led to a 40% increase in our two -way 
trade, significantly benefiting both nations.  
4.42.  In 2020, Singapore was Korea’s eleventh(11th) largest trading partner with total bilateral 
merchandise trade reaching approximately 18 billion US dollars, and the eighth(8th) largest export 
market.   
4.43.  On investment, the two countries have continued to expa nd the size of mutual investment as 
well since the Korea -Singapore FTA. In particular, Korea’s investment bound for Singapore has 
increased almost 10 times over the last decade, with cumulative investment reaching USD 19 billion. 
Going forward, Korea has h igh hopes that this bilateral investment relationship will keep going.  
4.44.  Turning to Singapore’s trade policies and practices, Korea takes note that the economy of 
Singapore has performed well since its last Trade Policy Review except in 2020 when COVID -19 
pandemic struck a severe blow, for example, with a remarkable average growth rate, low 
unemployment rate, and stable current account surplus.   
4.45.  All the good performance of the Singaporean economy can be attributed to its openness, a 
defining characteristic.  Korea commends Singapore’s active approach to trade liberalization, 
including its network of 26 FTAs, and new efforts on Digital Economy Agreements  (DEAs) and Green 
Economy Agreements  (GEAs) to complement the bilateral FTAs, not to mention its active 
participation in the WTO.  
4.46.  In particular, Korea would like to draw attention to the ongoing negotiation of DEAs: The two 
nations are currently discussing ways to improve collaboration between our SMEs in the digital 
economy. As strong supporters of t he multilateral trading system, and active participants in the WTO 
Joint Statement Initiative on E -commerce, we would like to find ways to make a greater contribution 
to this area.  
4.47.  Korea would also like to applaud Singapore for its constructive role in th e trade and 
environment discussions in the WTO. Like Korea, Singapore is an active proponent in trade of 
environmental goods and services (EGS) liberalization. Together with Singapore and other 
participants, we look forward to the further development of th is issue and a meaningful outcome in 
the future.  
4.48.  Also, Korea would like to welcome Singapore’s decision to join the JSI on Services Domestic 
Regulation negotiation.  WT/TPR/W/ 195 • Singapore  
 
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  4.49.  In advance of this review, Korea provided a short list of questions to Singapore and we t hank 
Singapore for its responses. During the discussion today, we are interested in learning more about 
Singapore’s bound duty commitments.  
4.50.  As part of UR market access commitments, Singapore has bound almost 70% of its tariff lines. 
As the Secretariat’s r eport says, “the fact that some 30% of tariff lines remain unbound could impart 
some degree of unpredictability to trade operators.” In the 7th TPR in 2016, Singapore commented 
that it is taking steps to increase the bound duty commitments in various ways.  Korea would like to 
welcome Singapore’s further explanation on the prospect of increasing the binding coverage and 
reducing the gap between the bound and applied rates to enhance predictability.  
4.51.  In addition to that, Korea has submitted written questions on FDI restrictions, carbon tax 
regime, and the SMEs Go Digital programme. We look forward to the further constructive exchange.  
4.52.  Again, we commend Singapore for its efforts to make the overall trading environment more 
open, transparent, and efficient. Kor ea is confident that the efforts put forth by Singapore will 
contribute to a successful MC12 in November.  
4.53.  Thank you for your attention and we wish Singapore a successful 8th TPR.  
MALAYSIA  ON BEHALF  OF ASEAN  
4.54.  It is a great pleasure to warmly welcome the del egation from Singapore led by Mr. Lee Chuan 
Teck, Permanent Secretary (Development) of the Ministry of Trade and Industry to their 8th Trade 
Policy Review.  
4.55.  We thank Government of Singapore and the WTO Secretariat for the comprehensive reports, 
and H.E. Am bassador Dagfinn Sørli of Norway for his role as discussant.  
4.56.  Singapore is a small and open economy that has been traditionally characterized by robust 
growth underpinned by sound macroeconomic policies. It has one of the highest GDPs per capita in 
Asia bol stered by its commitment to keeping its markets open, promoting competition, and 
supporting businesses and workers particularly amidst a challenging economic landscape brought 
about by the COVID -19 pandemic.  
4.57.  It has introduced a series of support measures t o cushion the impact of the pandemic on its 
economy by committing a total of SGD 97.3 billion or 20.8% of its GDP to provide economic, social, 
and public health support to businesses, workers, and households. It also worked closely with other 
ASEAN Member States (AMS) to maintain supply chain connectivity in order to tackle the disruptions 
caused by the pandemic.  
4.58.  As a founding Member of ASEAN, Singapore strongly supports ASEAN’s goal of building a 
resilient, prosperous and rules -based ASEAN. Singapore has strong economic and trade relations 
with all ASEAN Member States. In 2020, Singapore’s exports to ASEAN Member States accounted 
for 25.1% of its total exports, while ASEAN accounted for 24.3% of Singapore’s imports in the same 
year. Riding on stronger regi onal economic integration through the ASEAN Economic Community, 
the Singaporean economy expanded at an average annual rate of 3.1% between 2016 and 2019. 
However, the economy contracted in 2020 due to the COVID -19 pandemic.  
4.59.  During Singapore’s ASEAN Chairma nship in 2018, Singapore worked closely with ASEAN 
Member States and external partners to advance ASEAN’s continuing journey towards deeper 
regional economic integration by focusing on 21st century issues to ensure that ASEAN remains 
relevant to our partne rs, businesses, and citizens. It has facilitated the conclusion of the ASEAN 
Agreement on E -Commerce, the endorsement of the ASEAN Digital Integration Framework, the 
launch of the ASEAN Single Window, the signing of the Protocol to Implement the 10th Packa ge of 
Commitments under the ASEAN Framework Agreement on Services (AFAS) in 2018 and the 
conclusion of the ASEAN Trade in Services negotiations, amongst others. These milestones have set 
an important foundation for the next phase of ASEAN’s collective grow th. 
4.60.  ASEAN has also taken prompt and decisive action to respond to the COVID -19 pandemic since 
2020 by adopting the Hanoi Plan of Action on Strengthening ASEAN Economic Cooperation and WT/TPR/W/ 195 • Singapore  
 
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  Supply Chain Connectivity (“Hanoi POA”) and by concluding the Memorandum  of Understanding 
(MOU) on the Implementation of NTMs on Essential Goods. These concrete steps reflect Singapore’s 
and ASEAN’s commitment to systematically address NTMs and maintain supply chain connectivity.  
4.61.  Over the review period, Singapore has actively  and constructively engaged in ongoing WTO 
negotiations and regular work, including the discussions on WTO reform. Our colleagues at the 
Permanent Mission in Geneva, including Ambassador Tan Hung Seng, have also contributed to the 
WTO by chairing several W TO Councils and Committees over the review period.  
4.62.  Singapore, along with Australia and Japan, are co -conveners of the Joint Statement Initiative 
on E-Commerce, which comprises over half of the WTO Membership and over 90% of world trade. 
We also note from t he Secretariat report that Singapore has continued to place importance on the 
commitment to transparency which will help boost trade between Singapore and its trading partners, 
including ASEAN.  
4.63.  Some ASEAN Member States have submitted written questions to Singapore and we would 
like to express our appreciation in advance for Singapore’s written responses.  
4.64.  We would also like to thank the delegation of Singapore for their constructive engagement, 
and we wish Singapore a successful eight Trade Pol icy Review.  
MALAYSIA  
4.65.  Allow me to join others in welcoming the delegation of Singapore, led by Mr. Lee Chuan Teck, 
Permanent Secretary (Development) of the Ministry of Trade and Industry (MTI) of Singapore and 
the Singaporean colleagues in Geneva. We would also like to express our gratitude to the WTO 
Secretariat for the reports and to Ambassador Dagfinn Sørli for his invaluable insights, and to you 
Chair for facilitating the meeting today.  
4.66.  Malaysia is pleased to take part in this eighth Trade Policy Review of Singapore.  
4.67.  Malaysia would like to commend Singapore for the success in steering their economy towards 
continued growth and ensuring financial stability. Nevertheless, Singapore has not been spared from 
the health and economic challenges brought upon by the unprecedented COVID -19 under the review 
period. Malaysia would also like to laud Singapore for its commitment in ensuring an open market, 
promoting competition and supporting businesses to combat the crisis, and continue contributing 
20.8% of Singapore ’s GDP.  
4.68.  Singapore’s positioning as a global business hub has significantly helped the country's two -
way trade (both goods and services) to register strong growth. Singapore is one of the world’s most 
prosperous nations, with a business -friendly regulatory  environment and a very low unemployment 
rate.  
4.69.  Historically, Malaysia has enjoyed a strong partnership with Singapore, particularly in the 
economic sphere. In 2020, Singapore was Malaysia’s 2nd largest trading partner, 2nd largest export 
destination and 2 nd largest source of import. Although the total trade between Malaysia and 
Singapore in 2020 decreased by 5.8% to USD 51.48 billion, the two -way trade from January to 
June 2021 has already shown significant recovery, registering an increase of 30.1% to 
USD 30.54  billion as compared to USD 23.48 billion for the corresponding period in 2020. In the 
same period, the total exports increased by 30.9% to USD 19.95 billion as compared to 
USD 15.24  billion, while total imports increased by 28.5% to USD 10.59 billio n as compared to 
USD 8.24 billion.  
4.70.  On investment, in 2020, Singapore was listed as the largest source of foreign investments 
with USD 37.21 billion (21.7% of Malaysia’s total FDI stock). Similarly, Singapore was listed as the 
top destination for investment  by Malaysia, with Direct Investment Abroad (DIA) position valued at 
USD 26.87 billion (21.3% of Malaysia’s total DIA stock). In 2020, a total of 120 manufacturing 
investments from Malaysia, worth of approximately USD 2.13 billion and 9,080 employments wer e 
approved.  WT/TPR/W/ 195 • Singapore  
 
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  4.71.  For this current review, Malaysia had submitted written questions on areas such as COVID -19 
response, green policy, government procurement, MSMEs and investment. We would like to take 
this opportunity to thank the delegation of Singapore for th e responses provided to our questions 
and we shall examine the responses with great interest.  
4.72.  With that, we wish the delegation of Singapore a productive and successful eighth Trade Policy 
Review.  
UNITED  KINGDOM  
4.73.  Let me add my own personal welcome to Lee Chuan Teck and all his colleagues from 
Singapore who are with us here today. I would like to express our gratitude to the Government of 
Singapore as well as to colleagues from the WTO Secretariat for their respective reports in front of 
us today. And I wou ld like to thank you, Chair, and Ambassador Dagfinn Sørli as discussant, for 
facilitating – and indeed enriching - this Trade Policy Review.  
4.74.  The UK and Singapore are like -minded partners with shared deep historical ties and excellent 
economic relations, as  demonstrated by our Free Trade Agreement, which provides a platform to 
continue to grow trade and investment between our two countries.  
4.75.  Singapore was our largest trade and investment partner with ASEAN in 2020. And the UK is 
very honoured to be amongst S ingapore’s top investment destinations in Europe.  
4.76.  In the WTO, too, we see Singapore as one of our most like -minded partners. And I believe 
there is a lot that all Members can learn from the way that Singapore works in this Institution as a 
Member that is always engaged and thoughtful, and which brings deep expertise as well as ideas for 
building bridges between us. When I watch the Ambassador in action I am given some extra hope 
about our ability to make progress on the challenges we face. And let me just echo everybody else 
in really warmly welcoming the announcement you made this morning in regard to the JSI in Services 
Domestic Regulation. It is a very valuable step forward in our collective endeavours.  
4.77.  I’m pleased to say that the UK -Singapore relations hip continues to go from strength to 
strength. While it has been less than a year since our FTA was signed, our bilateral relationship has 
continued to develop. In March this year, then UK Foreign Secretary Raab and Singapore Foreign 
Minister Balakrishnan agreed a joint political statement that expands cooperation between our two 
countries for mutual prosperity and security. And then in June, our countries announced a pioneering 
UK-Singapore Financial Partnership, and also began negotiations on a Digital Ec onomy Agreement 
(DEA). We hope that this DEA will enable us to work together as likeminded trading partners, ready 
to embrace the extraordinary opportunities of the digital economy. Our joint aspiration is for that 
agreement to be a model for international  digital trade rules, and to form a strong basis for our 
ongoing cooperation in the WTO and in other multilateral fora in pursuing a common approach to 
global trade rules - for example, we think that the DEA will strengthen and complement the 
e-commerce Jo int Statement Initiative negotiations that are currently underway in this House.   
4.78.  My government has also prioritized striking a ‘data sharing agreement’ with Singapore. The 
free flow  of data between our two countries will underpin future innovation and th e global digital 
economy, the use of everyday apps as well as cloud computing systems. It will allow businesses to 
trade, drive international investment, support law enforcement agencies tackling crime, as well as 
the delivery of critical public services a nd health and scientific research. We look forward to 
concluding such an arrangement with Singapore to capitalize upon and unlock the potential of our 
relationship on data.  
4.79.  We are, of course, also pleased to have launched negotiations to accede to the Com prehensive 
and Progressive Transpacific  Partnership. We look forward to working with Singapore in their role as 
Chair of the Parties in 2022, to bring the UK’s accession to what we hope will be a successful 
conclusion.  
4.80.  Turning to the detail of today’s TPR,  I note that we have posed a rather large number of 
written questions to Singapore as part of this Review, reflecting our strong interest in supporting 
Singapore’s continued economic prosperity. I will, inspired by the style of Ambassador Hung Seng, 
touch on just three areas of particular interest today.   WT/TPR/W/ 195 • Singapore  
 
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  4.81.  First, financial services. Trade in financial services is a large part of the UK and Singapore’s 
bilateral trade, making up the second most imported and exported service between our two countries 
after ot her business services. The strength of trade in this sector is also demonstrated by the annual 
Joint Financial Dialogue that we hold between the UK and Singapore, which took place just a few 
months ago in June this year. We very much support Singapore’s on going work to develop its digital 
financial services ecosystem. A number of our written questions are related to financial services, 
specifically in the digital space, and we thank Singapore for their responses.  
4.82.  Second, we also take a keen interest in how Singapore is to approach the regulation of its 
State -Owned Enterprises, including how those SOEs access capital in the future. We believe that in 
some cases, state -owned enterprises have the potential to distort markets, trade and investment, 
and so we thi nk it is important that open and fair competition exists between those state -owned and 
privately -owned businesses. We look forward to better understanding Singapore’s plans for 
managing the SOE sector in the future.   
4.83.  Third and finally, we welcome Singapor e’s commitment to addressing climate change as a 
policy priority and we welcome the strong commitment to upholding the Paris Agreement and to 
achieving net -zero emission targets, as well as Singapore’s active participation in the work of the 
Trade and Envi ronmental Sustainability Structured Dialogue. As one of the UK’s top policy priorities 
and in line with our Presidency of COP26, we are committed to supporting and working with our 
international partners – not least Singapore - on this agenda and deliver t he results that our Planet 
requires.   
4.84.  In closing, I would just like to reiterate my thanks to our colleagues from Singapore for their 
excellent engagement in this process and wish them a very happy Trade Policy Review.  
PHILIPPINES  
4.85.  At the outset, the Phil ippines associates itself with the ASEAN Statement delivered by 
Malaysia, highlighting Singapore’s strong economic and trade relations with the ASEAN Member 
States.  
4.86.  The Philippine delegation warmly welcomes and congratulates the delegation of Singapore le d 
by Mr. Lee Chuan Teck, Permanent Secretary (Development) of the Ministry of Trade and Industry, 
and Ambassador Tan Hung Seng of the Permanent Mission of Singapore to the WTO on their 8th 
Trade Policy Review. We would also like to thank Ambassador Dagfinn  Sørli of Norway for his 
insightful comments as discussant, and the WTO Secretariat for a comprehensive report.   
4.87.  The Philippines enjoys a longstanding bilateral relationship with Singapore since the 
establishment of our diplomatic relations in May 1969. For more than 50 years, we have bolstered 
our bilateral ties through mutually beneficial cooperation in areas of ec onomics, defense, information 
technology, environment, and cultural and people -to-people exchanges.  
4.88.  An estimated 200,000 Filipinos live and work in Singapore and actively contribute to its 
economy. Approximately 60% of which are professionals and skilled workers.  
4.89.  Singapore is also the Philippines’ 9th biggest tourism market worldwide and the 1st in ASEAN 
in terms of passenger arrivals in 2019.  
4.90.  The Philippines -Singapore Action Plan signed in December 1998 provides a comprehensive 
framework for bilateral c ooperation between our two countries. Informal Consultations on the 
Philippines -Singapore Action Plan or ICPSAP are convened regularly as the primary bilateral 
mechanism by which the Philippines and Singapore review the implementation of the action plan. 
The 5th and latest round of the consultations were held on 14 July 2021 despite the COVID -19 
pandemic, which is a testament to the unstinting desire of the Philippines and Singapore to prevail 
over challenges and advance bilateral collaboration in the new n ormal.  
4.91.  In 2020, Singapore ranked as the Philippines’ 6th major trading partner worldwide and 1st in 
ASEAN with total bilateral trade valued at USD 9.40 billion. Given the economic disruptions brought 
about by the pandemic, Philippine exports to Singapore marginally decreased by 1.49% from 
USD 3.83 billion in 2019 to USD 3.77 billion in 2020, while imports decreased by 15.56% from WT/TPR/W/ 195 • Singapore  
 
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  USD 6.66 billion in 2019 to USD 5.62 billion in 2020. Singapore also ranked as the Philippines 4th 
major source of foreign inves tments last year amounting to USD 201 million.  
4.92.  Singapore is a small and open economy with high reliance on trade. Its two -way trade 
represents 320% of its GDP. Thus, it supports and depends on an open, fair, transparent, and 
rules-based trading system. It  also actively pursues regional integration and global cooperation 
through an extensive network of FTAs, which it considers complementary to and building blocks for 
multilateralism. Among these FTAs, are the 7 agreements signed under the aegis of the ASEAN  
which include the recently signed largest FTA to date – the Regional Comprehensive Economic 
Partnership or RCEP.  
4.93.  In response to the repercussions brought about by the COVID -19 pandemic, the Philippines 
notes Singapore’s main trade policy objective to mai ntain connectivity and openness to the world. 
We commend Singapore’s commitment to the multilateral trading system and for consistently 
supporting efforts to strengthen the WTO and ensuring it remains relevant for the future. The 
Philippines acknowledges S ingapore’s leadership role in the Joint Statement Initiative on 
E-Commerce and its active engagements in the joint statement initiatives on investment facilitation 
and on micro, small and medium enterprises, in the trade and environmental sustainability 
structured discussions, and in their announcement today of joining the Services Domestic Regulation 
JSI.   
4.94.  The Philippines also recognizes Singapore’s focus on accelerating its transformation into an 
innovation -led economy as it aims to position itself as a Global -Asia node of technology, innovation, 
and enterprise, that is sustainable, resilient, and inclusive.   
4.95.  The Philippines has submitted advance written questions on the TPR reports and we thank 
the delegation of Singapore for their prompt replies.  
4.96.  In closing, the Philippines looks forward to further enhancing the mutually beneficial economic 
relations with Singapore in the bilateral, regional, and multilateral fora. We wish you a very 
successful Trade Policy Review.  
EUROPEAN  UNION  
4.97.  I would first like to welcome the delegation of Singapore led by H.E. Mr. Lee Chuan Teck, 
Permanent Secretary, Ministry of Trade and Industry. I would like to thank the WTO Secretariat and 
the delegation of Singapore for their reports, which form the basis for our discussion to day. My 
appreciation is extended to the discussant, H.E. Dagfinn Sørli (Ambassador of Norway) for getting 
us started today with his remarks.  
4.98.  The European Union warmly welcomes this opportunity to take a closer look at the trade 
practices of Singapore since  the last Trade Policy Review in 2016.  
4.99.  Looking back at 2016, it feels as if we are looking at a different era. The fundamentals then 
were in many ways the same as now. In 2016, just as today, the EU considered Singapore as a clear 
example of how trade and  foreign investment can bring prosperity to a country. The decision taken 
by Singapore years ago to build its economic development strategy on sound policies and an open 
and transparent trade and investment regime has given extremely good results. Foreign investment 
poured into the country and Singapore rapidly became a business and trade hub in the region.  
4.100.   However, as pointed out by Singapore in its TPR report “The review period (2017 -2021) was 
marked by an unprecedented health and economic crisis triggere d by the COVID -19 pandemic”. In 
other words, the pandemic has changed everything. Singapore’s economy expanded between 2016 
and 2019 at an average annual rate of 3.1% but GDP contracted by 5.4% in 2020 as a result of the 
pandemic. Singapore, like most othe r countries in the world, has had to re -focus economic activity 
towards mitigating the impact of the pandemic on the economy and to plan for a post -pandemic 
recovery. The EU supports those efforts by Singapore, especially as the country continues to be ver y 
open to trade in both goods and services.  
4.101.   Another important factor that differs from 2016, from the EU point of view, is the Free Trade 
Agreement between the EU and Singapore, which entered into force on 21st November 2019. The WT/TPR/W/ 195 • Singapore  
 
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  EU and Singapore are clos e partners in a rapidly changing world. The Free Trade Agreement has 
brought us even closer.  
4.102.   We are reinforcing collaboration in areas that are equally important to both of us, such as 
sustainability and climate change, which also have significant impact on trade. We have convened 
the first Trade and Sustainable Development Board under the EU -Singapore Free Trade Agreement, 
which gives us an opportunity to reinforce joint efforts towards a resilient and sustainable post -
pandemic economic recovery.  
4.103.   To this  end, both of us adopted new climate -oriented  strategies: the European Green Deal 
is the EU’s broad roadmap for climate neutrality - just like the Green Plan 2030 is the guiding 
roadmap for Singapore’s efforts. Clearly, by working together and building on synergies we can have 
an even bigger impact at a global scale.  
4.104.   The EU and Singapore both are also strong supporters of multilateralism. We work jointly in 
the World Trade Organization and support its reform, so it can continue playing a pivotal role in 
developing global trade rules. We hope that we can count on Singapore’s continued engagement in 
ensuring that the WTO’s 12th Ministerial Conference delivers results that will restore the credibility 
of the Organisation and provide it with the tools it needs to face today’s challenges.  
4.105.   In this regard, we welcome the decision announced this morning that Singapore is joining 
the Joint Statement Initiative on services domestic regulation. Taking this important decision 
involved significant coordination and consu ltation efforts. We trust that this step sets example for 
other Members who have not joined the JSI yet to follow suit.  
4.106.   We both joined the International Platform on Sustainable Finance to support the objective 
of scaling up the mobilisation of private cap ital towards environmentally sustainable investments. 
Singapore and EU also support international solidarity in the fight against COVID -19 by contributing 
to the COVAX mechanism aimed at rolling out vaccinations at a global scale.  
4.107.   It has been under the ste wardship of Singapore, having held the role of ASEAN coordinator 
for relations with the EU over the past three years, that we were able to announce the elevation of 
relations between the EU and ASEAN to a strategic partnership in December 2020. This is tru ly 
indicative of a new chapter in the long -standing relationship between our two regional organisations 
in the spirit of shared values and mutual cooperation. As partners in integration, the EU and ASEAN 
have many shared interests, from the immediate such as cooperation in overcoming the COVID -19 
crisis, including on vaccines and rebuilding our economies in a green and sustainable way, to the 
overarching objective of promoting effective multilateralism.  
4.108.   On behalf of the EU, I wish Singapore a very successfu l 8th Trade Policy Review.  
COSTA  RICA 
4.109.   En primer lugar, deseo unirme a la bienvenida a la delegación de Singapur encabezada por 
el Sr. Lee Chuan Teck, Secretario Permanente del Ministerio de Comercio e Industria, y me complace 
saludar al Embajador Tan Hung Seng y a su equipo aquí en Ginebra. De igual manera, quisiera 
agradecer a la Secretaría por su informe, así como al ponente, el Embajador Sørli, por sus valiosos 
comentarios.  
4.110.   Costa Rica se complace en participar en este Examen de Políticas Comerciales . Singapur es 
un Miembro con el que compartimos muchos puntos de vista en la OMC; y ha demostrado su 
compromiso con la OMC y con su proceso de reforma.  
4.111.   El sector de los servicios representa el 70% del PIB y es la columna vertebral de la economía 
de Singapu r. Esto, unido a los avances alcanzados tanto a nivel nacional como regional, en foros 
como APEC o bajo el Regional Comprehensive Economic Partnership, en el desarrollo de disciplinas 
sobre reglamentación nacional en el campo de los servicios, hacían de Si ngapur un candidato ideal 
para participar en la iniciativa conjunta sobre reglamentación nacional de la OMC. A Costa Rica le 
complace el anuncio realizado esta mañana de que se unen a esta iniciativa y los felicita por este 
paso. Como coordinador de estas negociaciones, me complace darles personalmente la bienvenida. WT/TPR/W/ 195 • Singapore  
 
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  La participación de Singapur en la misma nos acerca todavía más a un resultado exitoso en la 12ª 
Conferencia Ministerial, un objetivo compartido por todos los participantes.  
4.112.   Costa Rica reconoce en Singapur a un socio con una política comercial transparente y abierta 
y reconoce su apego con los compromisos ante la OMC. Entre otras cosas, agradecemos el trabajo 
y el liderazgo mostrado por Singapur en la iniciativa conjunta sobre  comercio electrónico y su 
participación en otras iniciativas conjuntas como la facilitación de las inversiones y las 
microempresas y pequeñas y medianas empresas, así como en los debates sobre comercio y la salud 
y comercio y la sostenibilidad ambiental. Reconocemos también el liderazgo mostrado por Singapur 
en la propuesta para no imponer prohibiciones o restricciones a la exportación de productos 
alimenticios adquiridos con fines humanitarios no comerciales por el Programa Mundial de Alimentos.  
4.113.   El comer cio internacional sigue jugando un papel fundamental como principal fuente de su 
crecimiento y ha sido un elemento crítico en su estrategia de desarrollo. Tal y como señala el Informe 
de la Secretaría, el comercio bidireccional de bienes y servicios del pa ís representa el 320% de su 
PIB. 
4.114.   Al igual que el resto del mundo, la economía de Singapur se vio fuertemente afectada por la 
COVID -19. Bajo estas circunstancias, Singapur ha reiterado la importancia que le da a mantener un 
régimen comercial abierto, foment ar la competencia y prestar apoyo a las empresas como respuesta 
a la pandemia. El crecimiento sólido de su economía, con una inflación moderada y amplias reservas 
fiscales y monetarias, hicieron que Singapur estuviera en posición sólida para enfrentarse a esta 
crisis y responder a ella de manera oportuna, asignando los recursos necesarios para su 
recuperación.  
4.115.   Como países pequeños y abiertos, compartimos con Singapur una visión común sobre el 
papel transformador de la inversión y de la innovación en el com ercio de bienes y servicios en la 
economía mundial. Como parte de la estrategia de diversificación de mercados y con el fin de 
fomentar las relaciones comerciales, aumentar la inversión y promover la cooperación, Costa Rica 
decidió estrechar su relación co n Singapur con un Tratado de Libre Comercio que entró en vigor en 
julio de 2013. Desde entonces el flujo bilateral de comercio entre ambos países ha mostrado un 
crecimiento sostenido; las exportaciones aumentaron a una tasa anual promedio de 14,5% entre 
2011 y 2020 y las importaciones lo hicieron a un ritmo de 15,3%. Estas cifras son alentadoras, pero 
reconocemos que todavía hay mucho margen para fortalecer esta relación debido al potencial que 
ofrece este tratado y a la complementariedad de nuestras econom ías. 
4.116.   Finalmente, Costa Rica quisiera agradecer las respuestas de Singapur que les presentamos. 
Muchos éxitos en este Examen de Políticas Comerciales.  
OMAN  
4.117.   It is an honor and a pleasure to participate in the Trade Policy Review of Singapore.  
4.118.   We offer our si ncere congratulation to Mr. Lee Chuan Teck, Permanent Secretary, for an 
excellent and comprehensive opening statement.  
4.119.    The Sultanate of Oman enjoys close relations with Singapore and both countries have 
excellent maritime, historical, and economic relatio ns.   
4.120.   The free trade agreement between the Gulf Cooperation Countries (GCC) and Singapore 
which came into force in 2013 would lead to a further increase in the volume of the trade exchange 
between both parties.  
4.121.   Oman congratulates Singapore on its impressiv e achievements. Since its previous Trade 
Policy Review in 2016 and between 2016 and 2019.  
4.122.   Singapore has made efforts to attract foreign direct investment by ensuring an enabling 
business environment in several areas. Singapore has also successfully follow ed the policy of 
diversification of its economy.  WT/TPR/W/ 195 • Singapore  
 
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  4.123.   Singapore is faithfully adhering to the rules and disciplines of the WTO and is abiding by its 
commitments under the multilateral trade agreements. It staunchly supports and depend on an 
open, fair, transpa rent, and rules -based trading system with the WTO at its core and will continue 
to actively participate in the work of the WTO, and support efforts to ensure that the WTO stays 
relevant and ready to meet the needs of the future economy.  
4.124.   To conclude, the Su ltanate of Oman wishes Singapore a very successful Trade Policy Review.  
CHILE  
4.125.   Saludamos a la delegación de Singapur encabezada por el Sr. Lee Chuan Teck, Secretario 
Permanente del Ministerio de Comercio e Industria.  
4.126.   Saludamos también a todos los miembros de la Misión Permanente de Singapur, y en 
especial al Embajador Tan Hung Seng, con quien hemos trabajado estrechamente el último tiempo 
buscando avanzar en objetivos comunes dentro de esta organización.  
4.127.   Asimismo, quisiéramos reconocer el notable trabajo r ealizado tanto por la Secretaría como 
por Singapur en la elaboración de los respectivos informes y felicitamos al ponente, el Representante 
Permanente de Noruega, Embajador Dagfinn Sørli.  
4.128.   Chile y Singapur son dos economías abiertas al mundo que comparten u na visión común en 
su estrategia de integración, promotores del libre comercio, y que buscan continuamente 
coordinarse en los grandes temas de la agenda internacional.  
4.129.   Las relaciones económico -comerciales entre Chile y Singapur dan cuenta de su carácter d e 
países like minded y de su estrecha colaboración a través de diversas iniciativas.  
4.130.   En 2005 firmamos el Acuerdo de Asociación Económica, conocido también como P4, el cual 
incluye también a Brunei Darussalam y Nueva Zelandia. El P4 fue ideado como una alia nza 
estratégica para enfrentar en conjunto los desafíos asociados a los grandes mercados y sus 
dinámicas, especialmente en Asia. Este acuerdo trasciende lo comercial e incluye un memorando 
sobre cooperación laboral y otro de cooperación ambiental, así como  entendimientos en materia de 
cooperación en ciencia y tecnología, patentes y servicios vinculados a la economía digital.  
4.131.   La Cláusula de Adhesión del P4, que refuerza la intención original de perseguir una mayor 
integración y liberalización comercial en la  zona Asia Pacífico, llevó al proceso de expansión conocido 
como Trans -Pacific Partnership (TPP) y luego al Comprehensive and Progressive Trans -Pacific 
Partnership.  
4.132.   Nuestra relación económica comercial también pasa a través de la Alianza del Pacífico y la 
recientemente anunciada conclusión de las negociaciones entre la AP y Singapur como Candidato a 
Estado Asociado convertirá a Singapur en el primer Estado Asociado a la Alianza del Pacífico. 
Esperamos reforzar la cooperación económica en áreas como infraest ructura, tecnología digital e 
innovación, energía y comercio de alimentos.  
4.133.   Pero ambos países no descansamos ahí. En junio de 2020, junto a Nueva Zelandia, 
suscribimos digitalmente el primer Acuerdo de Asociación sobre Economía Digital (DEPA), pionero 
de es te tipo en el mundo y que nació de nuestro interés común por beneficiar a las economías más 
pequeñas, brindando más oportunidades a nuestros ciudadanos, especialmente a las MiPymes. De 
ese modo, el acuerdo busca establecer un marco amigable para las empres as TIC, fomentando su 
exportación de productos y servicios a través de la regulación de pilares fundamentales en materia 
de libre flujo de datos y no discriminación a productos digitales, inteligencia artificial, identidad 
digital, privacidad, entre otras materias.  
4.134.   A nivel de la OMC los intereses y visiones de Chile y Singapur coinciden, por ejemplo, en 
relación al Acuerdo sobre Facilitación de Comercio, servicios, reglamentación doméstica, 
antidumping , Comercio electrónico, y, en particular, apoyamos un s istema multilateral fuerte basado 
en reglas transparentes y no discriminatorias que otorgue previsibilidad a nuestros empresarios. En 
esa línea trabajamos junto a otros miembros en buscar una reforma a esta organización, incluyendo 
una solución permanente al impase en el Órgano de Apelación.  WT/TPR/W/ 195 • Singapore  
 
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  4.135.   Adicionalmente, Singapur y Chile son activos miembros de APEC donde aspiramos a una 
mayor integración económica regional, a través de la cooperación y el intercambio de buenas 
prácticas, creando un régimen de comercio e  inversión libre y abierto. Durante nuestro año APEC en 
2019, Singapur apoyó con entusiasmo nuestras prioridades: economía digital, integración, comercio 
inclusivo, en particular mujeres y PYMEs y crecimiento sustentable.   
4.136.   Singapur sigue figurando entre l as economías más abiertas y competitivas del mundo, 
gracias a su firme adhesión al libre mercado y búsqueda activa de políticas económicas orientadas 
al exterior, ampliando las oportunidades internacionales para las empresas establecidas en el país.  
4.137.   Dichas políticas, junto a la aceleración de su transformación hacia una economía de futuro, 
guiada por la innovación y la tecnología, representan una fuente de inspiración para muchos otros 
miembros, incluido Chile.  
4.138.   Para finalizar, para este Examen, Chile ha formulado preguntas en el área de propiedad 
intelectual, economía justa e inclusiva, PYMES y facilitación de comercio. Agradecemos desde ya las 
respuestas a dichas consultas.  
4.139.   Deseamos a Singapur un exitoso octavo Examen de sus políticas comerciales.   
CHINA  
4.140.   China would like to extend our warm welcome to the delegation of Singapore led by Mr. Lee 
Chuan Teck, the Permanent Secretary of Ministry of Trade and Industry, to the eighth Trade Policy 
Review. I would like to thank the discussant, Ambassador Sørli , for his insightful remarks. My thanks 
also go to the Secretariat for their hard work to prepare this exercise with the high -qualified 
document.  
4.141.   China highly commends Singapore for its high -level openness of economy and pro -business 
environment. Singapore  topped the rankings of both IMD’s report on World Competitiveness in 2020 
and World Economic Forum (WEF)’s report on Global Competitiveness in 2019. Meanwhile, Singapore 
provides excellent global connectivity to serve the fast -growing markets of the Asia -Pacific region 
and beyond.  
4.142.   Singapore's open and transparent trade and investment regime helped it demonstrate strong 
economic resilience in the hit of COVID -19 pandemic. Based on the Secretariat report, Singapore 
experienced last year a 5.4% GDP contracti on. But we are very pleased to see the quick recovery 
as according to its Ministry of Trade and Industry, the second quarter of 2021 surprisingly recorded 
a 14.7% growth, higher than the previous forecast. China congratulates Singapore on its strong 
econom ic rebound.  
4.143.   Singapore’s contribution to the multilateral trading system is widely acknowledged and 
appreciated. The first Ministerial Conference of WTO was hosted by the Government of Singapore. 
Moreover, WTO’s first plurilateral trade agreement, the Info rmation Technology Agreement was 
concluded in Singapore, and the negotiation of WTO’s first multilateral trade agreement, the Trade 
Facilitation Agreement, was also initiated in Singapore. As a champion of the multilateral trading 
system, Singapore has bee n playing an active role in supporting the WTO's regular work in trade 
monitoring, dispute settlement, and capacity building.   
4.144.   We commend Singapore for co -convening the Electronic Commerce and actively participating 
in other JSIs such as Investment Facili tation for Development, MSMEs and Services Domestic 
Regulation.  
4.145.   Singapore’s active role in the ongoing WTO discussions on issues like trade and health are 
also applaudable. In this regard, I would wish to place on record our deep appreciation for the 
constructive contribution of Ambassador TAN Hung Seng and his team in Geneva in the ongoing 
work of the WTO.  
4.146.   In the context of regional integration and cooperation, China commends Singapore’s 
contribution in the areas of APEC initiatives, the upgrade of China -ASEAN Free Trade Agreement and 
the creation of Regional Comprehensive Economic Partnership (RCEP). In April 2021, Singapore WT/TPR/W/ 195 • Singapore  
 
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  completed the official process for ratification of RCEP Agreement, becoming the first participating 
country of the world's largest free Trade Agreement.  
4.147.   China and Singapore share longstanding and substantive bilateral economic ties, 
underpinned by strong trade and investment flows. Since 2013, China remained the largest trade 
partner of Singapore, accounting for 13.7% of total export s and 14.4% of total imports in 2020, 
while Singapore remained China’s largest foreign investor. By the end of June 2021, Singapore’s 
cumulative investment in China totalled USD 116 billion.  
4.148.   On the other hand, China’s cumulative investment in Singapore al so ranks the highest 
compared with its investment in other ASEAN countries, totalled USD 70.87 billion by June 2021. In 
2020, FDI from China to Singapore hit a growth point of 75.1%, making Singapore the second 
largest destination for China’s new overseas investment.  
4.149.   Looking ahead, China is confident that our bilateral economic cooperation will be further 
enhanced under the Belt and Road Initiative.   
4.150.   China has submitted written questions in connection with this trade policy review, in areas 
such as export  control, import licensing requirements, tax and non -tax incentive schemes etc. We 
greatly appreciate Singapore for their timely responses to our questions.  
4.151.   In conclusion, I would like to express, once again, my appreciation to the delegation of 
Singapore  and Ambassador Tan Hung Seng for their hard work in preparing the Review, and I wish 
them a very successful TPR.  
ICELAND  
4.152.   Iceland joins others in welcoming the distinguished delegation of Singapore to their Trade 
Policy Review. We also express appreciation to the WTO Secretariat and Singapore for the reports 
prepared, as well as to the discussant, H.E. Mr. Dagfinn Sørli, for his excellent framing of the issues 
for our discussion today.  
4.153.   Iceland welcomes the good cooperation that has characterized  the longstanding running of 
the FTA between Singapore and the four EFTA countries, Iceland, Lichtenstein, Norway, and 
Switzerland, giving our citizens the opportunity to enjoy the economic benefits of such an 
agreement.   
4.154.   As with other countries, Singapor e´s economy has received a severe blow by the COVID -19 
pandemic. After enjoying annual growth rate of 3.2% in the previous years the economy contracted 
by 5.4% in 2020. Being one of the worst recessions since Singapore’s independence, as is stated in 
the report.  
4.155.   Iceland welcomes the various initiatives undertaken by Singapore seeking to mitigate the 
economic impact following the pandemic and its commitment to keeping markets open, supporting 
businesses and worker at the same time promoting competition.  
4.156.   As the impact of this health crisis are still unfolding, new challenges arise related to trade 
and trade -related activities. It is now widely recognised that women are likely to be harder hit than 
men by trade disruptions caused by the pandemic.  
4.157.   Following the  Buenos Aires Declaration on women’s empowerment 2017, a group of WTO 
Member States established an Informal Working Group on Trade and Gender. Important tool in 
advancing women’s economic empowerment is sharing of best practices of respective experiences 
relating to policies and programs to encourage women's participation in national and international 
trade and thus promoting sustainable socioeconomic development. The trade policy review provides 
an excellent opportunity to do that.  
4.158.   Iceland submitted advanc e written questions on the participation of women in the economy 
of Singapore. Iceland welcomes Singapore’s replies as - the answers will be useful as we gather best 
practices.  WT/TPR/W/ 195 • Singapore  
 
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  4.159.   Iceland appreciates Singapore’s active engagement in WTO and their continued su pport for 
the multilateral trading system. We wish the delegation of Singapore every success for their Trade 
Policy Review.  
BRAZIL  
4.160.   Let me start by welcoming the Singaporean delegation headed by Mr Lee Chuan Teck, 
Permanent Secretary in the Ministry of Trad e and Industry, and by thanking the Singaporean Mission 
in Geneva, and especially Ambassador Tan, for their efforts and contributions to this important 
exercise.  
4.161.   I would also like to express our sincere appreciation to the Singaporean Government and 
the WTO Secretariat for their reports, as well as to the discussant, Ambassador Dagfinn Sørli, for his 
insightful observations, and you, Chair, for your opening comments.  
4.162.   Brazil attaches significant importance to trade policy reviews, especially to ensure grea ter 
transparency and predictability for trade stakeholders. This is demonstrated by the dozens of 
questions submitted to Singapore for the present meeting. The COVID -19 pandemic that we are still 
facing and its impact on trade are additional elements that reinforce the relevance of this review.  
4.163.   Both the reports submitted by Singapore and the Secretariat confirm that Singapore's 
economic growth and high level of human development provide a very emblematic case of the 
benefits of international trade. Singapor e has a very strong external position, trades thrice the value 
of its GDP and is a renowned international financial hub, being the world`s third largest FDI recipient 
in 2019.  
4.164.   Singapore is very well integrated into Asia’s regional value chains. The number of trade 
agreements already concluded or under negotiation by the country, such as CPTPP and RCEP, is 
impressive.  
4.165.   The impacts of the pandemic on the world and in particular on Singapore’s economy, which 
added to other exogenous shocks such as those provoke d by trade tensions, demonstrate how 
important it is for us to maintain and reform a rules -based multilateral trading system. Since last 
year, after the outbreak of the COVID -19 pandemic, Singapore has been one of the leading voices 
in the call to maintain  open trade and to moderate the adoption of measures to restrict exports.  
4.166.   Notwithstanding the drop in GDP recorded in 2020, which was more the rule than the 
exception in most countries, and in spite also of the distinct impacts of the recession on differen t 
economic sectors, growth prospects for Singapore's economy in 2021 are positive. And trade will 
have an important role in the recovery.  
4.167.   Singapore is Brazil’s main trade destination in ASEAN. Last year, despite the COVID -19 
pandemic, our exports to Singap ore rose by more than one quarter. In the first semester of 2021, 
considering all our trading partners, Singapore was the 8th main destination of our exports.  
4.168.   Our bilateral investment flows are just as significant. In 2019, Singapore was the third 
largest direct investor in Brazil. Its investments are spread in many sectors, such as shipyards, 
airports services, telecommunications, information technology and agribusiness. Brazil also 
maintains investments in Singapore in different sectors, such as aviation,  oil and gas, mining and 
agribusiness.  
4.169.   Both our trade and investments flows are closely related and reinforce each other. 
Investments explain the presence of products such as petroleum oils, vessels, and poultry, pork and 
bovine meat on our trade agenda.  
4.170.   It is in our interest to further strengthen our economic relationship with Singapore. For this 
reason, together with our other MERCOSUR partners, we have been negotiating a free trade 
agreement with Singapore since 2018.  
4.171.   In the WTO, Brazil and Singapore hav e been working together to uphold and reform the 
multilateral trading system. We are both members of the Ottawa Group and of the MPIA. Brazil is WT/TPR/W/ 195 • Singapore  
 
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  an active participant in the Joint Statement Initiative on E -Commerce, which is co -convened by 
Singapore. Singa pore is the leading proponent of an exemption to the World Food Programme from 
the scope of export restrictions applied to food purchases by Members, whose negotiations have 
been facilitated by Brazil. We welcome Singapore’s announcement today on joining t he JSI on service 
domestic regulation.  
4.172.   In this trade policy review, Brazil is very interested in understanding better Singaporean`s 
insertion in global and regional value chains, the already observed and expected benefits and 
impacts of trade agreements an d initiatives it has been putting forward to cope with the COVID -19 
pandemic effects.  
4.173.   Brazil thanks Singapore for the written replies to our questions, which comprises some issues 
I touched upon today, such as economic recovery, effects of trade tensions o n Singapore’s economy 
and 5G. They were forwarded to our capital for examination and follow -up. 
4.174.   We wish Singapore a successful Trade Policy Review.  
THE SEPARATE  CUSTOMS  TERRITORY  OF TAIWAN,  PENGHU,  KINMEN  AND  MATSU  
4.175.   On behalf of the Separate Customs Territo ry of Taiwan, Penghu, Kinmen and Matsu, I would 
first like to extend our warm welcome to the Singapore delegation led by His Excellency Permanent 
Secretary Lee Chuan Teck. I would also like to thank the Secretariat for its comprehensive Report, 
and Ambassa dor Dagfinn Sørli of Norway too for his helpful observations and comments.  
4.176.   As mentioned in the reports by Singapore and the Secretariat, the review period from 2017 
to 2021 has been seriously marked by the unprecedented health and economic crises caused b y the 
COVID -19 Pandemic. Despite its slight fall in the annual growth rate in 2020, Singapore has now 
regained its previous upward momentum and recorded positive growth for the 1st Quarter of 2021.   
4.177.   We would also like to commend the Government of Singapor e on its achievements in 
combating and containing the spread of COVID -19. In particular, we welcome the resolve shown by 
the Singapore Government to maintain its trade and investment regimes as free and open as possible 
during these difficult times. We are  also pleased to learn that as part of its new economic 
transformation strategy, it still intended to deepen and broaden links with the global supply and 
value chain.  
4.178.   Singapore’s free and open trade and investment regimes, along with its position as a cri tical 
and trusted participant in the global supply chain, are extremely important, not only with regard to 
our bilateral economic and trade relations, but also to our relations with the whole of Southeast Asia.  
4.179.   The reason our bilateral trade with Singapor e has been able to weather the negative impact 
of the Pandemic and maintain steady growth is mainly due to the solid foundation of our FTA with 
Singapore. This is a high -quality FTA covering all aspects of trade. Since taking effect in April 2014, 
our rela tionship has deepened significantly,  and bilateral trade volumes are continuing to grow.  
4.180.   Singapore has long been a pivotal station for our trade with its neighbouring countries in 
Southeast Asia, due in great part to its division of labour and complementa rity with us as well as the 
fact that most of our businesses choose Singapore as a hub or operational centre for their trade or 
investment in the region.  
4.181.   On the multilateral trade front, we are pleased to see Singapore remaining as an active 
participant i n, and strong supporter of, the multilateral trading system. Singapore has been active 
on almost all fronts in the campaign for the further liberalization and opening up of trade on a 
multilateral level. We are pleased that Singapore strongly supports effo rts to reform the WTO by 
adopting innovative pathways, including the JSIs, in order to ensure it is fit -for-purpose in the 21st 
century. We greatly appreciate Singapore’s contribution to advancing the negotiations under JSIs 
on E-Commerce, and we especiall y welcome its announcement today to join the JSI on Service 
Domestic Regulation negotiation.    
4.182.   We wish Singapore a constructive and successful TPR, and we look forward to even closer 
and more mutually beneficial economic ties with Singapore in the future.  WT/TPR/W/ 195 • Singapore  
 
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  THAILAND  
4.183.   At the outset, Thailand would like to associate itself with the ASEAN statement delivered by 
Malaysia.  
4.184.   It is our pleasure to participate in the eighth Trade Policy Review of Singapore. We would 
like to extend our warmest welcome to the Singaporea n delegation led by Permanent Secretary for 
Development of the Ministry of Trade and Industry Mr. Lee Chuan Teck.  
4.185.   We would like to thank the TPRB Chair, Ambassador Dr Athaliah Lesiba Molokomme of 
Botswana, and the discussant, Ambassador Mr. Dagfinn Sørli o f Norway, for their insightful 
comments. We also thank the Government of Singapore and the WTO Secretariat for their useful 
and comprehensive reports.  
4.186.   Thailand and Singapore have enjoyed friendly diplomatic relationship for 56 years. As the 
two countries share a great deal of similarities, not least in relation to geographical proximity, 
institution, economic, as well as culture, the goodwill between the two countries will, without a 
doubt, continue to grow and prosper both in the near and distan t future.  
4.187.   Thailand commends Singapore for her solid and stable macroeconomic performance which 
is underpinned by sound macroeconomic policies and management. This has made Singapore one 
of the countries with the highest GDP per capita in Asia, the highest standard of living, and the most 
competitive economy in the world.  
4.188.   The trade ties between Thailand and Singapore are exceptionally strong. In 2020, Singapore 
is Thailand’s 5th largest trading partner and 2nd among ASEAN, while Thailand is Singapore’s 9th 
largest trading partner and 3rd among ASEAN. Total trade value between the two countries 
amounted to approximately USD 17 billion in 2020, an increase of 3.18% from 2019, and a yearly 
average increase of 3.69% since 2016, notwithstanding the COVID -19 pandem ic. Trade between 
the two countries is dominated by precious stones and jewellery, computers, parts, and accessories, 
refined oil, and electronic integrated circuits.   
4.189.   One of the most notable characteristics of Singapore is the high degree of openness to 
international trade, with two -way trade in goods and services representing 320% of GDP. In this 
regard, Thailand welcomes Singapore’s expansion of her network of Free Trade Agreements which 
now stands at 27 FTAs with 65 different countries in total. We als o appreciate Singapore’s significant 
breakthroughs during her ASEAN chairmanship in 2018 that were indispensable in the conclusion of 
Regional Comprehensive Economic Partnership (RCEP) in 2019 which is probably the world’s largest 
regional trade agreement.  
4.190.   Thailand commends Singapore’s active role in the WTO as a strong supporter of the open 
and rule -based multilateral trading system. The country ratified the Trade Facilitation Agreement 
and is a party to the Information Technology Agreement. Singapore is a  co-convener of Joint 
initiatives on e -commerce and participates in the joint initiatives on investment facilitation and on 
micro, small, and medium -sized enterprises. Moreover, thanks to Ambassador Tan Hung Seng’s 
great contribution, the country has co -sponsored several statements on trade and supply chain 
connectivity and has served as a bridge builder in the current Trade and Health debate.  
4.191.   As Singapore is highly open to international trade and investment, the country, has, 
therefore, been particularly h ard hit by the COVID -19 pandemic and the potential decline in world 
merchandise trade. This caused the country’s real GPD growth to decline at -5.4% in 2020. However, 
the country has been able to recover swiftly as the GDP growth rate in the second quarter  of 2021 
amounted to 14.7%, making the growth forecast in 2021 to be at an impressive rate of 6.0 -7.0 %.  
4.192.   Thailand is excited and welcomes Singapore’s various initiatives to transform the country 
into a green, innovation -led, and business friendly economy t hat is ready to face the challenges of 
the future. Most notable initiatives that have caught our attention are Industry Transformation Maps, 
Bright Green Spark and creating Green Finance, and Green and Digital Economy Agreements. With 
these visionary econo mic policies, we are confident that the Singaporean economy will continue to 
withstand any challenge and crisis and emerge even stronger and more powerful.  WT/TPR/W/ 195 • Singapore  
 
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  4.193.   In this review, Thailand submitted a set of questions. We take the opportunity to thank 
Singapore f or her responses and will certainly study them in detail with great interest.  
4.194.   Thailand would like to express our appreciation to Singapore for excellent cooperation in all 
aspects. In particular, we would like to thank Ambassador Tan Hung Seng and his team  in Geneva 
for the generous and unwavering support to promote the interest and goodwill between our two 
missions in Geneva as well as his substantial contribution to the WTO so far. We look forward to 
further strengthening our partnership in all areas of m utual interest and we wish Singapore every 
success in its 8th Trade Policy Review.  
INDIA  
4.195.   My delegation is very pleased to participate in the 8th Trade Policy Review of Singapore and 
we would like to extend a very warm welcome to the delegation of Singapore  led by Permanent 
Secretary, Ambassador Lee Chuan Teck. My delegation would like to commend the Government of 
Singapore and the WTO Secretariat for their comprehensive reports and would also like to thank the 
discussant, Ambassador Mr. Dagfinn Sørli, for h is insightful comments.  
4.196.   India and Singapore share close and multifaceted partnership and deepen strong economic 
cultural and people -to-people linkages. The robust bilateral ties were elevated to a steady 
partnership in 2015 on the occasion of the anniversa ry of the establishment of diplomatic relations 
between our two countries. Trade and economic cooperation is one of the key pillars of our expanding 
ties. 
4.197.   The Comprehensive Economic Cooperation Agreement of 2005 provides an important 
framework of promoting  bilateral trade and investment flows. Bilateral trade expanded up to the 
conclusion of SICA from USD 6.7 billion in 2004 -05 to reach USD trade 7.85 billion in 2018 -19. 
Singapore is India's six largest trading partner with a share of 3.2% of India's overal l trade. In 
2020-21, the bilateral trade stood at nearly USD 22 billion.  
4.198.   Singapore is not only a foremost trading partner in the ASEAN region. Singapore remains 
the largest source of FDI in India for the past few years. Our two way investments were over 
USD 17 billion last year, despite the pandemic slowing things down. These investments were in 
diverse sectors such as services sector, computer software and hardware, trading, 
telecommunications and drugs and pharmaceuticals.  
4.199.   We cooperate within the framewor k of the India -ASEAN Trade in Services and Investment 
Agreement which entered into force in July 2015. We are hopeful about the potential for expanding 
trade and economic ties with Singapore. Singapore's economy has performed well since its last Trade 
Policy Review in 2016. With low inflation and unemployment, an ample system and monetary results, 
financial stability and openness to international trade and investment.  
4.200.   Singapore has one of the highest GDP ratios  in the world and is one of the most liberal an  
open trading regime in the world. We have noted that Singapore’s trade is underpinned by expanding 
mutual cohesion and bilateral future agreements with its trading partners and the share of trade 
preferential partners is over 90% for both exports and impo rts. 
4.201.   Due to the COVID -19 pandemic, Singapore faces challenges of potential slow down. India 
understands the challenges surrounding the economic recovery and in maintaining a steady growth 
in these uncertain times. In this context, we note Singapore's agenda for economic transformation 
and setting the part of economic recovery. We would like to thank Singapore's authorities for the 
replies and answers to the questions posed by my delegation. These questions covered diverse areas 
including tr ade in goods, services, SPS measures, trade facilitation, to name a few.  
4.202.   Finally, we welcome Singapore's strong and longstanding support to the rules -based 
multilateral trading system. Singapore has been an active Member and participant in the world 
across  the WTO agenda. Both our countries have a shared interest in a strong and effective 
multilateral trading system,  and we look forward to working with Singapore in ensuring balance 
outcomes in the ongoing negotiations, as well as in the regular work in vari ous WTO Bodies. We 
commend Singapore for the active and positive engagements and wish the entire delegation of 
Singapore a very successful Trade Policy Review.  WT/TPR/W/ 195 • Singapore  
 
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  JAPAN  
4.203.   Let me first extend a warm welcome to this eighth TPR meeting to the distinguished 
delega tion of Singapore headed by Mr. Lee Chuan Teck, Permanent Secretary, Ministry of Trade and 
Industry. We sincerely appreciate the dedicated efforts made by Singapore and the WTO Secretariat 
to prepare the insightful reports shared with the Members in advanc e of today’s Review. We are also 
grateful to the discussant, H.E. Mr. Dagfinn Sørli, Ambassador of Norway, for his insightful remarks.  
4.204.   Japan recognizes that Singapore has been proactively supporting the multilateral trading 
system in various ways. We comme nd Singapore for taking initiatives and playing a significant role 
at the global level.  
4.205.   Singapore’s proposal on agriculture export prohibitions or restrictions relating to the World 
Food Programme is one of these outstanding Singaporean initiatives. We ap preciate Singapore’s 
pioneering efforts to connect the WTO with humanitarian cooperation and address today’s significant 
new policy challenges.  
4.206.   Although the Secretariat’s report says that Singapore’s steady economic growth was hit by 
the negative impacts of the COVID -19 pandemic, we recognize that its economy has been gradually 
recovering as evidenced by the year -to-year GDP growth rate of 7.7% it has achieved. We believe 
this is a result of Singapore’s continued pursuit of a free and open trade policy, wh ich has enabled 
the country to enjoy the benefits of an unrestricted economic environment. We expect to see 
Singapore continuing to enjoy further economic development while showing the world the benefits 
of championing free and open trade.  
4.207.   We welcome Sing apore’s engagement as our strong partner in the effort to maintain and 
consolidate the multilateral trading system centred around the WTO. As one of the co -conveners of 
the JSI on E -Commerce together with Japan and Australia, and as an active participant i n plurilateral 
meetings such as the Trade and Environmental Sustainability Structured Discussions (TESSD), we 
commend Singapore’s contribution to making new rules in response to the changing times under the 
umbrella of the WTO. In addition, Japan welcomes Singapore’s announcement for the participation 
of the Joint Statement Initiative on Services Domestic Regulations which, we believe, will give further 
momentum to conclude the negotiations by MC12.  
4.208.   On the aspect of regional integration, since the last revi ew in 2016, Singapore has signed 
seven new RTAs, including the CPTPP and the RCEP. As exemplified by its participation in these 
agreements, Singapore has been contributing to regional liberalization. In addition, Singapore has 
also signed the ASEAN Agreeme nt on Electronic Commerce. We commend Singapore’s contributions 
to promoting rule -based trade both within and beyond the ASEAN region.  
4.209.   We recognize that Singapore keeps its economy open as a trading hub. We believe the 
ratification of the Trade Facilitati on Agreement (TFA) in 2015 will bolster this approach. We also look 
forward to seeing Singapore channelling the FDI it has long been receiving from many countries, 
including Japan, into continuing with this approach going forward. We commend Singapore’s 
leadership towards enhancing trade facilitation in the ASEAN region through means such as the 
ASEAN Single Window. Such efforts are invaluable for increasing FDI and creating a more attractive 
business environment.  
4.210.   With respect to domestic policy, as the rep ort by the Secretariat points out, Singapore is 
proceeding with a plan for reducing reliance on foreign workers. The government has also been 
strengthening the regulations related to the acceptance of foreign workers in higher positions such 
as professiona l, managerial and executive positions. In addition, Singapore has been strengthening 
the regulations for intra -corporate transferees accompanied by their families. Japanese businesses 
are concerned that this measure discourages the movement of intra -corpor ate transferees, which 
may have a negative impact on FDI inflows into Singapore.  
4.211.   In conclusion, Japan appreciates Singapore’s efforts to proactively support the multilateral 
trading system in spite of the uncertain situation due to the COVID -19 pandemic. Japan looks 
forward to continuing  close collaboration between our two countries an d wishes Singapore a 
successful and productive TPR.  WT/TPR/W/ 195 • Singapore  
 
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  TURKEY  
4.212.   We extend a very warm welcome to the delegation of Singapore headed by Mr. Lee Chuan 
Teck, Permanent Secretary of the Ministry of Trade and Industry.  
4.213.   We would like to thank the Secretariat and the Government of Singapore for their detailed 
reports as well as discussant Ambassador Dagfinn Sørli of Norway for his precious comments.  
4.214.   As stated in the reports, Singapore has remained a steady economy with solid growth, 
subdued inflation, low unemployment,  ample fiscal and monetary reserves and financial stability 
since its previous review.  
4.215.   Singapore’s economy, which is bound to open and free trade, has been affected by the 
pandemic like many other countries. However, Singapore managed to mitigate negative  effects of 
the pandemic by cash transfers and income support, tax rebates and affordable financing for MSMEs 
through implementation of five budgets in 2020.  
4.216.   Another step taken by the Government to overcome the challenges arising from the global 
slowdown of merchandise trade is the economic transformation agenda. We believe that 
implementation of 23 Industry Transformation Maps will help to build value -creating economy and 
support innovation and digitalization.  
4.217.   Singapore is a strong supporter of the rules based multilateral trading system. We commend 
Singapore for being among the first WTO Members to ratify the Trade Facilitation Agreement, 
implementing all of its provisions since its entry into force in 2017.  
4.218.   We are pleased to work together with Singapore regarding Joint Statement Initiatives on e -
commerce, investment facilitation and MSMEs. We are delighted to hear today its decision to join 
the JSI on services domestic regulation.  
4.219.   Considering Turkey’s endeavours to further expand the depth and scope of ti es with Asia -
Pacific countries, Singapore stands out as a dynamic and capable actor in its region and as a reliable 
partner for Turkey.  
4.220.   We also value Singapore’s potential contributions to our “Asia Anew” initiative, which we 
launched in 2019 to deepen Tur key’s connections with South -East Asia in every field.  
4.221.   Singapore is among the countries in the Asia -Pacific region, with which we have a trade 
surplus. For Turkey, Singapore exhibits a significant potential for enhancing cooperation in trade and 
investment . Our bilateral trade volume had surpassed USD 1 billion in 2019. We expect it to gain 
further pace in the post pandemic recovery period.  
4.222.   Turkey and Singapore are strategically located at the epicentre of vibrant markets. 
Therefore, we are working to tap into this potential and cooperate as gateways to new markets in 
our respective regions.  
4.223.   Free Trade Agreement between our countries, which entered into force in 2017, is the most 
comprehensive FTA Turkey has negotiated so far. We hope that this Agreement wi ll boost the 
investment environment and create new cooperation areas between our enterprises.  
4.224.   We welcome Singaporean investors’ interest in the Turkish market. The total value of the 
direct investments from Singapore is approximately USD 500 million and a round 100 Singaporean 
companies operate in Turkey.  
4.225.   Considering Singapore’s progress in cyber security, high -technology, digitalization as well as 
innovation applications for smart cities, we are keen to cooperate in these emerging industries, we 
encourage  Turkish and Singaporean companies to actively engage with each other and explore ways 
to collaborate.  
4.226.   Construction is another field that deserves special attention. We believe that Turkish and 
Singaporean investors can successfully cooperate and invest i n projects in third countries.  WT/TPR/W/ 195 • Singapore  
 
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  4.227.   We also see a substantial potential in agricultural sector that both countries would benefit 
from. We wish to expand our cooperation with Singapore in agriproducts, not only in trade but also 
in investments.  
4.228.   In conclusion, w e would like to take this opportunity to thank the delegation of Singapore, 
Ambassador Tan Hung Seng and his team for the excellent preparation for this Review, as well as 
their constructive contributions to WTO activities.  
4.229.   We wish Singapore a very succes sful Trade Policy Review.  
BANGLADESH  
4.230.   At the outset, my delegation welcomes H.E Mr. Lee Chuan Teck, Permanent Secretary 
(Development) Ministry of Trade and Industry (MTI) and head of delegation for his introductory 
presentation at the 8th Trade Policy Revi ew of Singapore. We also thank H.E. Mr. Dagfinn Sørli 
Ambassador and Permanent Representative of Norway for his insightful observations. Our sincere 
appreciations also go to the Government of Singapore and the WTO Secretariat for the 
comprehensive reports.  
4.231.   We are encouraged to see that solid growth, subdued inflation, low unemployment, ample 
fiscal and monetary reserves, financial stability, and openness to international trade and investment 
have always been hallmarks of Singapore’s economy. Its sound macro economic policies resulted in 
a substantial increase in living standards over the past two decades. As a friendly, Asian neighbour 
country, we take pride in the great strides and significant progress made by Singapore during review 
period. Its prudent macr oeconomic measures have resulted in impressive economic growth with an 
average annual rate of 3.1% and remarkable improvement in almost all indices. Singapore is 
managing the COVID induced economic challenges quite efficiently through effective economic an d 
fiscal management.  
4.232.   Bangladesh and Singapore enjoy a friendly and mutually beneficial relationship ever since 
diplomatic relations between the two countries were established in 1972. Bangladesh views 
Singapore as an Asian Economic power and a key develop ment model to emulate. The companies 
of Singapore are showing an increasing interest to invest in, and doing business with Bangladesh. 
Bangladeshi business community is also keen to enhance trade with Singapore. There are many 
areas which remain unexplored  for our two countries to expand the horizon of our mutual 
cooperation. In this context, Bangladesh particularly flags two issues from Government Report 
(WT/TPR/G /473) Chapter l: Economic Environment:  
• From Sub -Chapter “Main Features of the Economy”, Does  Singapore have any plan to extend 
more facilities to workforce from other countries working in Singapore?  
• From the chapter “Other Regional and Bilateral FTAs and Economic Partnerships” - 
Bangladesh imports USD 2.5 -3.5 billion worth goods from Singapore whereas our export 
figure stands at only USD 200 -300 million per annum to Singapore. Against the backdrop of 
this large trade deficit on our part, both countries need to explore ways to increase trade 
opportunities by taping the potential areas. We would be interested to hear the reflections 
of the Singapore delegation on how we can improve the trade gap between the two countries.  
4.233.   We sent the above two questions through the Secretariat earlier. We thank, in advance, the 
Singapore delegation for an swering the questions.  
4.234.   To conclude, we wish the delegation of Singapore a productive and successful TPR. My 
delegation will continue to work closely with the Singapore delegation, led by Ambassador H.E. 
Mr. Tan Hung Seng to strengthen multilateral trading  system to our mutual benefit.   
  WT/TPR/W/ 195 • Singapore  
 
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  INDONESIA  
4.235.   Indonesia would like to extend its warm welcome to Mr. Lee Chuan Teck – Permanent 
Secretary (Development), Ministry of Trade and Industry of Singapore and the other members of 
the delegation to the Trade Policy Review (TPR) of Singapore. Indonesia wishes to thank Singapore 
for the comprehensive Government report and its statement.  
4.236.   Indonesia also would like to convey its appreciation to H.E. Mr. Dagfinn Sørli of Norway for 
his contribution as a discussant and exte nd its grateful to the Chair of Trade Policy Review Body, 
Ambassador Dr. Athaliah Lesiba Molokomme of Botswana, as well as WTO Secretariat for putting 
their hard work in conducting this eighth Trade Policy Review of Singapore by providing Members 
with insi ghtful perspectives and comments.  
4.237.   Indonesia is pleased to acknowledge its relations with Singapore that can be characterized 
as one of the most trusted and major trading partners in the world, shown by both countries’ 
commitment that has been widely unders tood, to maintain stability and pursuing economic 
development in the region. Indonesia and Singapore have substantive and close cooperation across 
a wide range of sectors, including education, tourism, culture, defence and the environment.  
4.238.   Indonesia is of  the view that Singapore provides a predictable and easiness in terms of doing 
business showed by latest annual ratings concerning Ease of Doing Business (EODB) published by 
the World Bank where Singapore is ranked 2 among 190 countries in 2020. Thus, Indo nesia observes 
that Singapore demonstrates transparency in regulations that support commercial and trade 
environment.  
4.239.   With regards to trade performance between the two countries, Singapore became the 2nd 
largest importer in Indonesia. Indonesia notes that  Singapore enjoyed export value of 
USD 17,5 billion in 2019 and USD 12,3 billion in 2020 to Indonesia from its varied products such as 
petroleum oils, gold, polymers of propylene, cyclic hydrocarbons and polymers of ethylene. On the 
other side, Indonesia r ecorded export value of USD 12,9 billion in 2019 and USD 10,6 billion in 2020 
to Singapore from its gold, petroleum gases, electrical capacitors, crude petroleum oils and palm oil 
and its fractions. By taking into account the beneficiary cooperation betwee n both countries, 
Indonesia remains experienced trade deficit of USD 4,6 billion in 2019 and USD 1,6 billion in 2020 
from Singapore.  
4.240.   In spite of these circumstances, Indonesia would like to underline Singapore’s importance 
for the Foreign Direct Investmen t (FDI). Singapore’s FDI in Indonesia has reached total value of 
USD 2,6 billion in the first quarter of 2021, which currently spreading to more than 3.634 essential 
projects in Indonesia in the area of infrastructure development, tourism sector, health ca re, 
industrial sector, education and other technical assistance. In order to maintain good environment 
for trade and investment, Indonesia and Singapore are looking forward to creating  future business 
potential and to improve economic transformation, among  others, with implementing bureaucracy 
simplification and minimizing barriers.  
4.241.   In terms of Singapore’s role in the WTO, Indonesia takes note that Singapore is a strong 
supporter of multilateralism and it believes in the benefits of an integrated global eco nomic and 
trading system based on transparent and fair rules. In the issue of WTO reform, Singapore is one of 
the 121 Members that support to launch the selection processes for the appointment of Appellate 
Body members and it continues to support efforts t o refresh the WTO in meaningful ways, including 
through the WTO Joint Statement on E -Commerce initiative which aims to establish rules for the 
digital economy.  
4.242.   Singapore is a co -sponsor to three statements on trade and COVID -19 at the WTO. This 
includes th e: (a) COVID -19 and the Multilateral Trading System by Ministers Responsible for the 
WTO; (b) Responding to the COVID -19 Pandemic with Open and Predictable Trade in Agriculture 
and Food Products; and (c) Statement on Highlighting the Importance of Micro, S mall and Medium -
sized Enterprises (MSMEs) in the Time of COVID -19. These statements seek to ensure that supply 
chains remain open and connected amidst the COVID -19 pandemic.  
4.243.   In this special occasion of eight Trade Policy Review of Singapore, Indonesia woul d like to 
seek clarification with regard to Singapore’s trade policies and measures, i.e. implementation of the WT/TPR/W/ 195 • Singapore  
 
- 34 - 
 
  Guidelines for the Implementation of ASEAN Commitments on NTMs on Goods, utilization of 
Certificate of Origin under Rules of Origin provision, i nformation on the Incentive Programme and 
its commitment to SCM Agreement, information on Technical Regulations and Conformity 
Assessment Mechanism as well as information on the inclusion of MSMEs in the global value chain. 
These interests, for more detail s, have been reflected in our written questions and we will take a 
careful look for Singapore’s responses and will follow -up accordingly.  
4.244.   Indonesia believes Trade Policy Review is important mechanism in the WTO for Indonesia 
and the rest of WTO Members to understand Singapore trade policies and measures which may have 
impact to trade. Nevertheless, as our closest neighbour and fellow founding members of the 
Association of Southeast Asian Nations (ASEAN), Indonesia is confident that the two countries will 
share the “ASEAN Way” with the same vision of how to shape economic stability in the region.  
4.245.   To conclude our statement, we would like to reiterate our appreciation to the delegation of 
Singapore, Trade Policy Review Body (TPRB) and WTO Secretariat for their hard work. We wish 
Singapore a successful and fruitful eight Trade Policy Review and we wish everyone staying healthy.  
PANAMÁ  
4.246.   deseo ante todo saludar atentamente a Su Excelencia Lee Chuan Teck y al Embajador Tan 
y a toda la delegación de Singapur por su de stacada preparación. Saludo al Embajador Dagfinn Sørli, 
ponente en este octavo Examen, y agradezco a la Secretaría por preparar los respectivos reportes.  
4.247.   Panamá otorga especial atención a las relaciones con Singapur. En la agenda bilateral 
mantenemos impo rtantes acuerdos en áreas de interés común, las cuales han fortalecido nuestros 
lazos los últimos años. Contamos con un Tratado de Libre Comercio, que entró en vigor el 24 de 
julio de 2006.  
4.248.   Para el período en consideración, Panamá exporto a Singapur carne  bovina, peces espada, 
desperdicios y desechos de la fundición de hierro y acero. Para el mismo período importamos 
medicamentos uso terapéuticos, preparaciones alimenticias de harina, jugos de frutas tropicales, 
estimuladores cardiacos, aparatos oftalmológ icos y a través de la Zona Libre de Colón importamos 
sulfonamidas, ácidos nucleicos y sus sales, aminoácidos con funciones oxigenadas, cigarros que 
contengan tabaco.  
4.249.   Nuestra balanza comercial en el periodo 2016 -2020 ha sido deficitaria para Panamá. Desde 
la entrada en vigencia del Tratado, hemos visto una tendencia positiva en nuestro intercambio. 
Podemos además destacar que Singapur, para el 2019, mantiene una Inversión Extranjera Directa 
de 515,8 millones de dólares, en nuestra economía.  
4.250.   Congratulamos a Singapur por su participación en las actividades de la OMC y su firme 
compromiso con el sistema multilateral de comercio. Durante el período objeto de examen, Singapur 
no participó en ninguna diferencia comercial en el marco de la OMC ni como reclamante ni  como 
demandado. No obstante, participó activamente en el mecanismo de solución de diferencias como 
tercero y además participa en el procedimiento arbitral multipartito de apelación provisional.  
4.251.   Singapur es coorganizador de la Iniciativa relativa a la Declaración Conjunta sobre el 
Comercio Electrónico y además participa en otras dos iniciativas conjuntas, a saber, las relativas a 
la facilitación de las inversiones y a las microempresas y pequeñas y medianas empresas (mipymes) 
y, desde diciembre de 2020 ha participado en los Debates Estructurados sobre el Comercio y la 
Sostenibilidad Ambiental.  
4.252.   Singapur es reconocida por su sólida protección y promoción de la propiedad intelectual. 
Denota su convicción de que los activos intangibles como la propiedad inte lectual impulsarán cada 
vez más su crecimiento económico. Es notable que el actual Secretario General de la OMPI es de 
Singapur.  
4.253.   Además, Singapur es autor de una propuesta sobre las prohibiciones o restricciones a la 
exportación de productos agropecuarios en relación con el Programa Mundial de Alimentos, que es 
aún objeto de debate y la cual Panamá apoya.  WT/TPR/W/ 195 • Singapore  
 
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  4.254.   Las restricciones a los viajes aplicadas para afrontar la crisis del Covid -19, tanto en el país 
como en el extranjero, junto con la disminución de la dem anda externa y las perturbaciones de las 
cadenas de suministro, tuvieron importantes repercusiones en la actividad económica de Singapur.  
4.255.   Frente a esta afectación, el Gobierno puso en marcha una combinación de políticas 
macroeconómicas sin precedentes que comprendía medidas fiscales y monetarias. Las medidas 
tenían por finalidad principal proteger la vida y los medios de subsistencia, salvar empleos y 
preservar la capacidad de las empresas. Esta combinación de políticas macroeconómicas contribuyó 
a mantener  la capacidad productiva de Singapur y permitió a su vez establecer las condiciones 
adecuadas para una recuperación razonable en 2021.  
4.256.   Además, Singapur como Panamá, velan por que las cadenas de suministro mundiales sigan 
abiertas y estén conectadas y para que los Miembros cumplan las obligaciones contraídas en el 
marco de la Organización, incluso en lo relativo a la transparencia y las notificaciones. A tal fin, 
Singapur copatrocinó varias declaraciones o comunicaciones sobre el comercio y la conectividad d e 
las cadenas de suministro.  
4.257.   Nos mantendremos atentos al desarrollo de la discusión durante este examen y reitero la 
disposición de Panamá en reforzar los lazos de cooperación con Singapur, con miras a promover el 
comercio y las inversiones entre ambos paí ses. Le deseamos a Singapur éxito en este octavo examen 
de su política comercial.  
MAURITIUS  
4.258.   The Mauritian delegation welcomes the high-level delegation led by Mr. Lee Chuan Teck, 
Permanent Secretary of the Ministry of Trade and Industry of Singapore. We congratulate Singapore 
and the Secretariat for their strong efforts to complete the 8th Trade Policy Review of Singapore in 
spite of the curre nt global challenges.  
4.259.   We also extend our thanks to the discussant, H.E. Mr. Dagfinn Sørli of Norway for his insights 
on the report.  
4.260.   Mauritius and Singapore share a number of common characteristics, particularly in terms of 
our smallness, population and ec onomic structure. We both don’t have a lot of natural resources and 
we have to rely on our human resources for the creation of value in our economies.  
4.261.   The quality of your people, Permanent Secretary, has always been inspirational for Mauritius, 
from Ambass ador Kesavapany to Ambassador Tan and Jayachandran. We salute this.  
4.262.   Mauritius has always viewed Singapore as a role model. A lot of our development policies 
have been tailored drawing on the achievements of Singapore and as a result of this, Mauritius also  
shares a services -oriented  economy that revolves around tourism, ICT, financial services, among 
others. Like you, we believe that bilateral and multilateral agreements are building blocks for a 
strong multilateral trading system.  
4.263.   It is indeed gratifying t o see the manner by which Singapore keeps innovating and pushing 
the boundaries in a number of sectors. Their 23 Industry Transformation project is indeed testament 
to the country’s constant evolution and adaptation process.  
4.264.   The pandemic has brought to the  fore many of the weaknesses of Africa, especially with 
regards to the adoption of digital technologies to overcome the limitations of social distancing. This 
includes adopting e -commerce, work from home, distance learning, and digitalizing Government 
services, among other things.  
4.265.   As a leader in digitalization and technology integration in society and economy, we believe 
that Singapore could facilitate and accelerate technology penetration in Africa, the more so as 
Singapore is positioning itself as a globa l node of technology. We also note the activities undertaken 
within the emerging technologies programme in Singapore to co -found costs of trials and adoption 
of frontier technologies such as 5G.  WT/TPR/W/ 195 • Singapore  
 
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  4.266.   Singapore, like Mauritius has maintained a largely duty-free market access and is very open 
to business. We would like to see Singapore companies invest in Africa, including Mauritius in 
emerging sectors such as biotechnology , renewable energy and ocean economy, among others. I 
might also highlight, that Mauritius i s constantly improving its regulatory framework and adopting 
new policies in the fields of the future, such as intellectual property, fintech, life sciences and creative 
industries.  
4.267.   We were very impressed by the manner in which Singapore developed new mod alities for 
the international response to trade restrictions during the pandemic.  
4.268.   We are also very impressed by the recovery of cargo volumes which had declined. It would 
be interesting to hear in greater detail how this was achieved as we continue to suff er from a severe 
drop in freight availability and escalating costs.  
4.269.   Like Mauritius, we note that Singapore’s tourism sector has been affected due to global 
lockdowns and increased restrictions on the movement of people meant to curtail the spread of 
COVID.  We are, however, hopeful that the sector will soon recover as Mauritius plans to open its 
frontiers on the 1st of October.  
4.270.   Turning to more WTO related issues. We are glad to note that Singapore is active on a 
number of negotiation fronts, including the Jo int Statement Initiatives. We know that Singapore is 
a strong proponent of the WTO multilateral system and we encourage the country to maintain its 
active participation to strengthen the Organization, especially in light of the upcoming 12th Ministerial 
Conference.  
4.271.   With regards to the elimination of export restrictions for World Food Programme, Africa has 
collaborated fully in this effort to improve global food security.  
4.272.   With that I would like to conclude my statement and I would like to wish Singapore a ve ry 
successful Trade Policy Review.  
HONG  KONG,  CHINA  
4.273.   I would like to start by extending a warm welcome to the Singaporean delegation led by 
Mr Lee Chuan Teck, Permanent Secretary (Development) in Singapore’s Ministry of Trade and 
Industry. I would also like  to thank Ambassador Dagfinn Sørli of Norway for sharing with us his 
insights as discussant, and the Secretariat for the comprehensive reports prepared for this Review.  
4.274.   Hong Kong, China and Singapore have long been enjoying harmonious bilateral trade and 
economic relations. Last year, Singapore was our fourth largest trading partner in the world and first 
among the ten Member States of the Association of Southeast Asian Nations (ASEAN) in merchandise 
trade. During the same period, we were Singapore’s second  largest export market in the world.  
4.275.   Despite the global downturn brought about by the COVID -19 pandemic since last year, the 
total merchandise trade between Hong Kong and Singapore still recorded an increase of 3% in 2020, 
with value amounting to more than  USD 48 billion. We are also encouraged by the impressive surge 
of 32.5% year -on-year in bilateral trade in goods in the first half of 2021.  
4.276.   We are pleased to note that the ASEAN -Hong Kong, China Free Trade Agreement and the 
related Investment Agreement have entered into force in full since February 2021. We appreciate 
Singapore’s effort in bringing the two Agreements into force back in June 2019, making Singapore 
among the first batch of ASEAN Member States ratifying both Agreements. We look fo rward to 
further strengthening our economic ties with Singapore by facilitating more flow of goods, services 
and investments.  
4.277.   Both Singapore and Hong Kong, China are small and open economies and we share a lot of 
commonalities in terms of trade policies. F or example, we both attach great importance to free trade, 
and are staunch supporters of an open, transparent and rules -based trading system with the WTO 
at its core.  WT/TPR/W/ 195 • Singapore  
 
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  4.278.   Hong Kong, China highly appreciates Singapore’s active and constructive participation in the 
WTO. We look forward to working closely with Singapore to further advance the work of the WTO.  
4.279.   Let me now turn to three specific topics in Singapore’s trade policies.  
4.280.   First, Singapore’s efforts to improve trade facilitation have been impressive. Singap ore’s 
customs procedures are entirely digitalised and carried out by its national single window, through 
which applications submitted are generally approved within 10 minutes. Besides, Singapore has 
continued to expand its customs cooperation with other ec onomies.  During the reporting period, 
Singapore has signed Mutual Recognition Arrangements with Thailand, Australia and New Zealand. 
Together with the existing seven WTO Members (including Hong Kong, China), Singapore now has 
made such arrangement with a total of 10 Members.  
4.281.   Meanwhile, Singapore was also actively engaged in other trade facilitation initiatives within 
the ASEAN during the reporting period, including the ASEAN Trade Facilitation Framework, the 
ASEAN Single Window and the ASEAN Customs Transi t System Live Operation. We welcome 
Singapore’s continued efforts in simplifying and modernising its customs procedures.  
4.282.   Second, services. We note that the services sector remains the backbone of Singapore’s 
economy, accounting for 70% of GDP and 76% of e mployment. Since 2018, Singapore has become 
a net exporter of services with a growing surplus reaching SGD 20.5 billion (about USD 15 billion) 
in 2020. We would encourage Singapore to continue supporting a predictable trading environment 
and minimising imp ediments to trade in services.  
4.283.   Last but not least, investment facilitation. Singapore actively supports the Joint Statement 
Initiative on Investment Facilitation for Development (IFD) and co -sponsored the Joint Ministerial 
Statements in Buenos Aires in 20 17 and in Shanghai in 2019. We look forward to working closely 
with Singapore and other like -minded Members to further develop the framework on IFD, with a 
view to working towards a concrete outcome at MC12.  
4.284.   Hong Kong, China always treasures Singapore as a valuable trading partner. We look forward 
to developing stronger bilateral trade and economic relations as well as closer cooperation in the 
WTO on issues of mutual interests. We thank Singapore for responding to our questions and wish it 
a productive an d successful Trade Policy Review.  
RUSSIAN  FEDERATION  
4.285.   Russia appreciates the opportunity to take part in the 5th TPR of Singapore and engage in a 
frank discussion on its trade policy. I would like to extend a warm welcome to the delegation of 
Singapore, tha nking the Government and the WTO Secretariat for their comprehensive reports, as 
well as the discussant for his thoughtful remarks.  
4.286.   Let me start by pointing out that trade and economic cooperation is the highlight of Russia’s 
bilateral relations with Singa pore. Specific focus is attached to fostering collaboration between our 
countries in the energy sector, transport, agro -industrial complex, information and communication 
technologies.  
4.287.   Unfortunately, our trade turnover in 2020 was heavily affected by the gl obal economic 
downturn caused by the COVID -19 pandemic and decreased by 63% to about USD 2 billion (for 
comparison, in 2019 it amounted to USD 5.4 billion). At the same time, in the first quarter of 2021 
Russia's non -resource non -energy exports to Singapor e demonstrated a modest recovery, growing 
by 16% (to USD 22 million).  
4.288.   We hope that the downward trend in trade between our countries will be reversed in the 
near future. The FTA on trade in goods between the Eurasian Economic Union Members and 
Singapore, s igned in 2019, should be instrumental in achieving this goal. We are also looking forward 
to finalizing negotiations on the bilateral FTA on trade in services between Russia and Singapore.  
4.289.   We note with appreciation that Singapore refrains from imposing unj ustified trade barriers, 
maintaining one of the most open trade and investment regimes in the world. This allows major 
Russian oil and gas, innovative and high -tech companies (Gazprom Marketing and Trading, Lukoil WT/TPR/W/ 195 • Singapore  
 
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  Asia Pacific, Novatek Gas and Power Asia, Rosneft, Kaspersky Lab, IB Group) to expand their 
presence on the local market, mutually benefitting our economies. Due to the efforts of the 
Government of Singapore to diversify food imports, first deliveries of Russian confectionery, wine, 
honey, snacks,  frozen chicken and vegetables began recently, with dairy products soon to follow. In 
addition, work continues on negotiating the terms of Russian -made poultry and pork imports.  
4.290.   On the multilateral level, Russia commends Singapore’s strong and consistent s upport for 
the WTO and the multilateral trading system. Singapore actively promotes trade liberalization and 
meaningfully participates in the WTO negotiations, including on the JSIs, while strictly adhering to 
its obligations and demonstrating a commendabl e notifications record. Personal contributions of 
Ambassador Tan, committing his time and energy to sustaining multilateralism, including through 
chairing WTO bodies and involvement in other WTO work (like the preparation of the recent 
pandemic response co mpilation), cannot be overestimated.  
4.291.   In conclusion, I would like to wish Singapore a successful Trade Policy Review.  
BRUNEI  DARUSSALAM  
4.292.   Brunei Darussalam associates itself with the ASEAN statement delivered by Malaysia. We 
would also like to express our war m welcome to Mr. Lee Chuan Teck and his team and commend 
the Government of Singapore and the WTO Secretariat for their clear and comprehensive reports, 
respectively. We would also like to thank H.E. Ambassador Dagfinn Sørli of Norway for his insightful 
overview of both reports under discussion.  
4.293.   Brunei Darussalam and Singapore are more than fellow ASEAN Member States and 
neighbours, we are close friends and partners.  
4.294.   Although diplomatic relations were only officially established in 1984, bilateral ties have 
existed long before that and we have strong and close cooperation in areas of defence, tourism, 
health, aquaculture, education, finance, and trade and investment, among others.   
4.295.   We have, for example, a Currency Interchangeability Agreement, established in  1967, where 
the currency notes and coins issued by the other country are accepted and exchanged at par and 
without charge, into our own currency, by  our respective monetary authorities. This promotes 
monetary cooperation and facilitates the ease of doing  business between our two countries.  
4.296.   In September 2020, we also entered into a Reciprocal Green Lane to facilitate essential 
business and official travel for residents from both countries, which allowed for the safe resumption 
of cross -border movement, es pecially of business people, with the necessary safeguards in place to 
ensure that public  health concerns on both sides are addressed.  
4.297.   Singapore is one of Brunei’s main trading partners and, despite its being adversely affected 
during the pandemic, in 2 020 it became our top trading partner accounting for 22.4% of Brunei’s 
total trade. Between 2016 to 2020, total two -way trade increased by 218% with exports from Brunei 
to Singapore increasing by BND 1.492 billion and imports by BND 1.043 billion. Our main  exports to 
Singapore consist of mineral products, chemicals, metals and textiles, machinery, electrical and 
transport equipment and various manufactured articles, whilst imports from Singapore mainly 
comprise mineral products, machinery, electrical equipm ent, chemicals, foodstuff and beverages, 
live animals and animal products, vegetable products, plastics and rubber.  
4.298.   Over the last three years, we both also entered into a major free trade agreement, codifying 
our common values. The Regional Comprehensive Economic Partnership Agreement (RCEP) signed 
in 2020 accounts for 30% of global trade.   
4.299.   We also share the same belief in the need for an open and rules -based multilateral trading 
system, as embodied by the WTO, and indeed Singapore has been an active and leading player in 
this august organization, recently spearheading, for example, an important initiative exempting 
World Food  Programme food purchases for humanitarian purposes from export restrictions, which 
Brunei Darussalam strongly supports.   WT/TPR/W/ 195 • Singapore  
 
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  4.300.   We would  therefore like to commend the work of H.E. Ambassador Tan Hun Seng, and his 
team in the Permanent Mission, and wish them and Singapore a successful 8th Trade Policy Review.  
LAO PDR 
4.301.   At the outset, I would like to warmly welcome Singapore’s delegation led by H.E. Lee Chuan 
Teck, Permanent Secretary, Ministry of Trade and Industry, to their 8th Trade Policy Review meeting, 
today.  
4.302.   Taking this opportunity, I would like to thank Singapore and the WTO’s secretariat for the 
comprehensive briefings.  And my thanks go to H.E. Ambassador Dagfinn Sørli of Norway for his role 
as discussant.  
4.303.   The Lao PDR associates itself with the ASEAN Statement for the 8th Singapore’s Trade Policy 
Review delivered earlier by Malaysia.  
4.304.   The Lao PDR commends Singapore for th e remarkable progress made in economic and trade 
developments characterized by its sound macroeconomic policies coupled with keeping markets 
open, promoting competition and supporting businesses and workers through the COVID -19 crisis. 
More importantly, in  the rapid disruption of ICT and changing patterns of supply and demand, 
Singapore has focused on accelerating transformation into an innovation -led economy, powered by 
technology and ready to face the challenges of the future. As a result, Singapore's GDP  growth has 
recorded an average annual rate of 3.2% for the period from 2016 to 2019. Singapore also topped 
the World Economic Forum's Global Competitiveness rankings in 2019, and INSEAD's Global Talent 
Competitiveness Index 2020 ranked Singapore top in th e Asia Pacific and third globally for talent 
competitiveness. The Economist Intelligence Unit's Business Environment Rankings forecasted for 
2020 to 2024 have also placed Singapore first in the world for doing business.  
4.305.   Singapore is not only the key tradin g partner of ASEAN, but it is also of the Lao PDR. On Lao 
PDR-Singapore bilateral trade relation, Singapore is the Lao PDR’s No. 17 largest trading partner 
with two -way trade amounted to USD 65.2 million in 2020 compared with USD 43.8 million in 2016, 
increased markedly by 48.6%. Although the volume of our bilateral trade is still not much, we can 
see the gradual upward trend year -by-year and we can tap further potentials.  
4.306.   On FDI, Singapore is the 10th largest investor in the Lao PDR with 83 projects and wi th the 
total value of USD 362.3 million.  
4.307.   On ASEAN Comprehensive Recovery Framework (ACRF) and Regional Comprehensive 
Economic Partnership (RCEP), the Lao PDR looks forward to closely working with Singapore and 
other ASEAN Member States as well as its Dialo gue Partners to have them fully and effective realized.  
4.308.   The Lao PDR commends Singapore, especially Ambassador Hung Seng and his staff, for the 
strong supporter of the multilateral trading system and playing an important role in WTO’s 
negotiations and refo rm processes.  
4.309.   Taking this opportunity, I would like to thank Singapore for its invaluable support and 
cooperation extended to Laos in technical assistance and capacity building activities through 
Singapore -WTO Third Country Training Program (TCTP), Initia tive for ASEAN Integration (IAI), 
Laos-Singapore Technical Cooperation Center in Vientiane, Laos, among others. We hope that these 
support and cooperation in this regard will continue.  
4.310.   To conclude, I wish Singapore a great success in its 8th Trade Policy Review.  
BAHRAIN  ON BEHALF  OF THE GCC 
4.311.   We are delighted to participate in the 8th Trade Policy Review of the Republic of Singapore, 
and would like to warmly welcome H.E. Mr. Lee Chuan Teck, Permanent Secretary of Development 
at the Ministry of Trade and Indu stry in Singapore and H.E. Ambassador Tan Hung Seng, Permanent 
Representative of the Republic of Singapore to the World Trade Organization and the World 
Intellectual Property Organization, and wish them and their delegation a very successful Review.  WT/TPR/W/ 195 • Singapore  
 
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  4.312.   We wo uld also like to thank the WTO Secretariat for their efforts in preparing the detailed 
report.  
4.313.   Singapore has always been an important partner of the states of the Gulf Cooperation 
Council, sharing a strong economic relationship. As developing nations, we share similar challenges 
and opportunities and have learned from each other through continuous co -operation over the past 
3 decades.  
4.314.   Coupled with the implementation of the GCC -Singapore FTA, we foresee this strong 
economic relationship growing even further  in the future.  
4.315.   We are therefore encouraged by the findings of the report, that Singapore’s rate of annual 
economic growth averaged 3.1% per year during the period under review, as well having one of the 
highest GDPs per capita in Asia.  
4.316.   We are also pleased  that the report shows the various efforts undertaken by Singapore to 
embark on an economic transformation agenda in order to build a value -creating economy that is 
open and connected to the world through building skills and capabilities and supporting inn ovation 
and digitalization.  
4.317.   In closing, we would like to thank the discussant for his remarks and active discussion and 
the WTO secretariat for their efforts in preparing the detailed report.  
ARGENTINA  
4.318.   La Argentina da la bienvenida la delegación de Singapu r, encabezada por S.E. Sr. Lee Chuan 
Teck, Secretario Permanente del Ministerio de Comercio e Industria de Singapur.  
4.319.   Agradecemos los informes preparados por Singapur y por la Secretaría, que ofrecen un 
panorama completo de las políticas comerciales de este Miembro. Damos las gracias asimismo al 
Embajador Sørli por sus observaciones y comentarios, que nos han permitido profundizar nuestro 
conocimiento sobre las prácticas comerciales de Singapur y sobre el entorno económico en que el 
que op eran. 
4.320.   Los informes sobre las políticas comerciales de Singapur dan cuenta de una economía sólida, 
abierta, competitiva y dinámica que la sitúan como un centro de negocios de escala mundial.  
4.321.   Para conseguir ese resultado, Singapur ha implementado de manera c onsistente una 
estrategia de largo plazo que involucra una amplia gama de políticas públicas destinadas a generar 
un clima que favorece la actividad empresarial y la innovación, así como un conjunto de programas 
de asistencia y de incentivos a las empresas , incluyendo a las PyMES, que permite que se desarrollen 
y compitan en un mundo cada vez más exigente, tanto en la producción de bienes de alto valor 
agregado como en la provisión de servicios cada vez más sofisticados.  
4.322.   En ese marco, las políticas comercia les de Singapur cumplen un papel central identificando 
y aprovechando oportunidades para la inserción de las empresas y para la creación de un entorno 
comercial previsible.  
4.323.   Como no podía ser de otra manera, una economía fuertemente integrada a los flujos 
comerciales globales de bienes y servicios no fue ajena a las perturbaciones generadas por la 
pandemia de COVID -19.  
4.324.   En efecto, la crisis sanitaria que estamos atravesando generó una contracción de la economía 
de Singapur del 5,4% e interrumpió un ciclo de crecimiento económico que entre 2016 y 2019 había 
promediado un 3,2% anual.  
4.325.   Sin embargo, la solidez fiscal y la estabilidad macroeconómica de Singapur han posibilitado 
la implementación de medidas de respuesta, tanto de contención como de estímulo, que ya están 
arrojando resultados positivos. El FMI prevé para Singapur un crecimie nto del 5,2% en 2021 y una 
estabilización en alrededor del 3,1% en 2022, dependiendo claro de la recuperación de la economía 
mundial.  WT/TPR/W/ 195 • Singapore  
 
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  4.326.   En el plano bilateral, la Argentina ocupa el sexto lugar proveedor de Singapur entre los 
países de América Latina. En los  últimos cinco años el intercambio comercial muestra saldos 
comerciales deficitarios para Argentina. El pico de USD 264 millones de comercio bilateral durante 
ese período registrado en 2019, se desplomó en 2020 con una caída interanual del 41,5% de las 
exportaciones argentinas y de un 60,1% de las importaciones desde Singapur. Sin embargo, esta 
tendencia comienza a revertirse en el primer semestre de 2021, con un aumento de 198% de las 
exportaciones argentinas y un aumento de 20,3% de las importaciones desd e Singapur respecto de 
igual período del año anterior.  
4.327.   Cabe mencionar que se encuentran en curso las negociaciones tendientes a abrir el mercado 
singapurense para el ingreso de carne porcina argentina, un objetivo prioritario para mi país. Luego 
de una re unión virtual entre los equipos técnicos del mes de julio pasado se acordó avanzar en la 
posibilidad de inspecciones virtuales de los establecimientos interesados, que podría tener lugar 
durante el mes de noviembre de 2021.  
4.328.   Singapur constituye uno de los ejemplos más claros de un país que trabaja de manera 
responsable y constructiva en todos los ámbitos de la OMC, a través de su activa y competente 
Misión en Ginebra liderada de manera excepcional por el Embajador Tan, para fortalecer el sistema 
multilatera l de comercio basado en normas y, al mismo tiempo, busca complementar ese sistema 
con una extensa red de acuerdos de libre comercio bilaterales y plurilaterales que en la actualidad 
representan más del 85% del comercio mundial.  
4.329.   En ese sentido, queremos de stacar que el actual proceso de negociación entre Singapur y el 
MERCOSUR es uno de los más activos en la agenda de nuestro bloque regional y se trata del primer 
país de la Asociación de Naciones del Sudeste Asiático (ASEAN) con el que estamos negociando.  
4.330.   Tras haber intercambiado propuestas de texto de las distintas disciplinas que formarán parte 
del Acuerdo en abril de 2019, y luego de meses de inactividad a causa de la pandemia, a partir del 
último semestre de 2020 se han reanudado las conversaciones. Dura nte 2021 se realizaron tres 
reuniones virtuales de Jefes Negociadores y la semana próxima tendrá lugar la Segunda Ronda de 
Negociaciones que permitirá reactivar este escenario en todas sus disciplinas, con el objeto de 
finalizar las negociaciones durante 2 022, así como consensuar una hoja de ruta para cumplir con 
ese objetivo.  
4.331.   Permítame concluir agradeciendo nuevamente a la distinguida delegación de Singapur, a 
usted, al Embajador Sørli y a la Secretaría por esta nueva oportunidad para intercambiar 
conside raciones sobre las políticas comerciales de Singapur.  
4.332.   Reafirmamos la relevancia de este ejercicio en todos sus aspectos; y deseamos a las 
autoridades de Singapur una exitosa conclusión del presente Examen.  
MYANMAR  
4.333.   Myanmar aligns itself with the ASEAN stat ement made by Malaysia.  
4.334.   My delegation would like to join others in welcoming the Singapore delegation led by Mr. Lee 
Chuan Teck, Permanent Secretary (Development) of the Ministry of Trade and Industry and 
congratulate for their 8th Trade Policy Review Proc ess. 
4.335.   Singapore and Myanmar have long -standing cooperation in numerous areas including trade, 
investment and human resource development.  
4.336.   In bilateral trade relations, it can be observed that the trade volume is growing steadily in 
which Singapore is always  in favour of Myanmar.  
4.337.   Singapore ranks as the 5th major export partner and the 2nd major import partner of 
Myanmar for the Financial Year 2019 -2020.  
4.338.   Myanmar would like to appreciate Singapore for its initiatives to help developing members 
integrate into an d benefit from Multilateral Trading System through technical assistance and capacity 
building activities such as Singapore -WTO Third Country Training Programme (TCTP). In addition, WT/TPR/W/ 195 • Singapore  
 
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  Myanmar would also like to express our gratitude and appreciation to Singap ore for its continued 
support to Myanmar through Singapore Cooperation Programme under Initiative for ASEAN 
Integration.  
4.339.   Bilateral Investment Treaties contribute to enhancing investment in Singapore. During the 
period under review, Singapore concluded Bil ateral Investment Agreements with 9 countries 
including Myanmar.  
4.340.   Singapore and Myanmar signed Bilateral Investment Treaty in 2019 and as of August 2021, 
Singapore is the top major investor in Myanmar constituting the 26.77% of Foreign Investment 
Projects i n Myanmar.  
4.341.   Despite challenges of COVID -19, it is commendable that Singapore remains attractive 
investment destination for many global companies due to its adjusted macroeconomic policies in 
response to the pandemic as well as effective strategies to devel op and maintain a business -friendly 
environment.  
4.342.   We believe that, with the current momentum of Singapore’s economic recovery, by staying 
open and connected to the world, Singapore will continue to actively contribute to the work of the 
WTO.  
4.343.   I wish Singapo re every success in its 8th TPR process.  
JAMAICA  
4.344.   Jamaica congratulates Singapore on this its eighth Trade Policy Review and extends a warm 
welcome to its distinguished delegation led by Mr. Lee Chuan Teck, Permanent Secretary for 
Development, in the Minist ry of Trade and Industry. We thank Singapore for the report presented 
and further wish the delegation a successful review. Jamaica also registers its appreciation to our 
discussant, Ambassador Dagfinn Sørli of Norway for his balanced and insightful perspec tives, as well 
as to you, Chair, and the Secretariat for the respective contributions to this exercise.  
4.345.   Jamaica and Singapore share a long history of friendship and cooperation, built on a mutual 
commitment to deepen the existing relations at the bilateral  and multilateral levels.  
4.346.   We note positively that during the period 2016 -2019, Singapore recorded robust economic 
growth, registering an average annual rate of 3.1%. Yet, in 2020, GDP contracted, which coincided 
with the onset of the COVID -19 pandemic. The  pandemic resulted in an unprecedented global health 
and economic crisis, which has significantly impacted the way in which we conduct business and our 
daily lives. For many countries, including small island states like Singapore, its impact has been 
devas tating/severe. Hence, the Government’s commitment to keeping its markets open to trade, 
promoting competition, and supporting businesses and workers throughout this period of significant 
difficulties must be lauded.  
4.347.   We note further that, although the perf ormance and economic outlook for different sectors 
continue to be uneven, the authorities remain optimistic about future economic growth; GDP growth 
for 2021 is expected to be between 4.0% to 6.0%. This is largely attributable to the Government’s 
continued  implementation of sound policy measures, particularly those that support sectors with 
strong prospects for growth and job creation, as well as facilitate digitalisation and work automation.  
4.348.   Singapore’s persistent and/or focused efforts at maintaining a b usiness -friendly 
environment, improving infrastructure, and expanding human capital formulation has contributed to 
the substantial increase in its living standards. It has also boosted its ranking as a major global 
business hub. The country’s services sect or continues to dominate; this is all a part of its successful 
long-term strategy to transform the country into a knowledge -based and innovation -driven economy 
fit for the future. Positive examples of this strategy are: (I) the establishment of the Future Economy 
Council and the Emerging Stronger Taskforce (EST), (II) maintenance of a strong Intellectual 
Property (IP) regime; and (II) the devotion of financial resources for research, innovation, and 
enterprise. We encourage Singapore to continue these effor ts going forward.  WT/TPR/W/ 195 • Singapore  
 
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  4.349.   Like many developing countries, Jamaica is pleased with the high priority that Singapore 
attaches to its participation in the rules -based multilateral trading system. As a mutual partner, 
Jamaica welcomes Singapore’s commitment to the str engthening of the multilateral trading system, 
with the WTO as its core institution, and commends Singapore for its active participation in the WTO 
and in informal groupings of WTO Members, such as the Friends of the System. This is in recognition 
of the c ritical importance of trade to the full realisation of the country’s economic growth and 
development objectives. Its continued support to other developing countries, including through the 
Singapore -WTO Third Country Training Programme (TCTO), should be fur ther encouraged.  
4.350.   At the regional level, Singapore has been seeking to expand its links and capabilities to 
support Asia’s growth, while forging strategic linkages to other key markets. We commend the 
Government’s post -pandemic efforts aimed at positioning the country as a safe destination through 
the strengthening of its air, sea and land transport solutions.  
4.351.   Also commendable is the country’s pledge to meet its commitments under the Paris 
Agreement; we note that there is ongoing investment in lo w-carbon technologies, and action to 
review the country’s carbon tax to encourage companies to become more carbon efficient.  
4.352.   In closing, Jamaica once more extends its best wishes to Singapore for a successful Trade 
Policy Review.  
URUGUAY  
4.353.   Uruguay desea brin dar la más cordial bienvenida a la delegación de Singapur, encabezada 
por el Secretario Permanente del Ministerio de Comercio e Industria, Sr Lee Chuan Teck, en 
oportunidad del octavo Examen de sus políticas comerciales. Agradecemos al Embajador Sørli, por  
su ponencia, y a la Secretaría por su completo informe.  
4.354.   En 2020, la pandemia de COVID -19 asestó un duro golpe a las economías de los miembros 
de esta casa, y Singapur no fue la excepción. No obstante, felicitamos a Singapur por las medidas 
fiscales y mone tarias aplicadas entre febrero y octubre de 2020, y en particular la concesión de 
financiación asequible, especialmente para las pequeñas y medianas empresas, así como los 
incentivos para la adopción de nuevas tecnologías. Observamos la concesión de numero sos 
incentivos fiscales y no fiscales para ayudar a las empresas establecidas en el país. Por lo general, 
estos incentivos han tenido el objeto de alentar a las empresas a que amplíen la producción y la 
inversión, adopten nuevas tecnologías e inviertan en I+D y formación, o apoyar a las pymes y las 
empresas emergentes (start -ups). Notamos que, a pesar de la crisis sanitaria, Singapur mantuvo 
sus mercados abiertos, fomentaron la competencia y prestaron apoyo a empresas y trabajadores 
durante la crisis. Del m ismo modo, se ha centrado en acelerar su transformación en una economía 
guiada por la innovación, impulsada por la tecnología y preparada para afrontar los desafíos del 
futuro.  
4.355.   Singapur est á desde hace mucho tiempo a la vanguardia de las iniciativas de fa cilitación del 
comercio. Es uno de los primeros Miembros en ratificar el Acuerdo sobre Facilitación del Comercio, 
y ha aplicado todas sus disposiciones desde la entrada en vigor del Acuerdo en 2017. Singapur 
también ha participado en iniciativas de facilit ación del comercio en el marco de la ASEAN, entre 
ellas, la aplicación de la Ventanilla Única de la ASEAN a partir de diciembre de 2019.  
4.356.   Singapur y Uruguay coinciden en el gran valor atribuido a la OMC y la función central de la 
misma en el sistema multila teral de comercio basado en normas, así como en la necesidad de 
alcanzar resultados significativos en la Duodécima Conferencia Ministerial. Del mismo modo, ambos 
países compartimos la necesidad de asegurar que la OMC siga siendo pertinente en el futuro y a  la 
altura de las circunstancias. Asimismo, ambos países estamos decididos a colaborar con otros 
Miembros de la OMC para hallar una solución permanente al impasse del Órgano de Apelación.  
4.357.   Singapur se ubicó en el lugar 58 como destino de las exportaciones u ruguayas en 2020. Los 
principales productos uruguayos de exportación fueron los lácteos – leche, manteca y pastas lácteas - 
y placas de plástico no celular. Singapur se encontró en el puesto 57 como origen de las 
importaciones con una participación del 0.09 %, destacándose los aparatos eléctricos, máquinas 
eléctricas y baterías de pilas.  WT/TPR/W/ 195 • Singapore  
 
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  4.358.   Nuestra relación bilateral se sustenta en instrumentos jurídicos en el área económico -
comercial, como el Memorándum de Entendimiento sobre Cooperación en Materia de Comercio  e 
Inversiones entre el MERCOSUR y Singapur y un Acuerdo para Evitar la Doble Imposición vigente 
desde el 2017. Desde el 2018 nos encontramos negociando un acuerdo entre el MERCOSUR y 
Singapur, la primera negociación que el bloque inicia con un país miembr o de ASEAN. Abogamos 
por continuar expandiendo nuestra relación comercial y profundizar nuestro vínculo para el 
desarrollo de nuestros países.  
4.359.   Para finalizar, quisiéramos reiterar nuestra apreciación por este nuevo ejercicio de 
intercambio sobre las prácti cas comerciales de Singapur, al tiempo de reconocer al equipo de su 
Misión en Ginebra, encabezado por el Embajador Tan Hung Seng, por su profesionalismo y 
participación activa en la Organización, y desearles una exitosa conclusión del presente Examen.  
VIET  NAM 
4.360.   I would like to warmly welcome to the distinguished delegation of Singapore led by Mr Lee 
Chuan Teck, Permanent Secretary of the Ministry of Trade and Industry to the eighth Trade Policy 
Review of Singapore.  
4.361.   Viet Nam thanks Singapore and the WTO Secr etariat for their respective reports prepared 
for the purpose of this TPR.  
4.362.   We also would like to express our appreciation to the discussant, His Excellency Ambassador 
Dagfinn Sørli of Norway for his remarks.  
4.363.   We associate ourselves with the ASEAN Statement  made earlier by Malaysia.  
4.364.   We take note with pleasure that during the review period in question, Singapore continues 
to be a true champion for multilateralism, especially the multilateral trading system which benefits 
us all.  
4.365.   Singapore has demonstrated he r leadership with innovative ideas and solutions, and played 
a very constructive role at the WTO by chairing important WTO bodies in a professional manner, 
tabling viable proposals, and helping gather momentum for a number of initiatives to move the WTO 
forward.  
4.366.   Viet Nam applauds Singapore and is happy working with her in the efforts of shared interests, 
such as Fisheries Subsidies negotiations; the WTO Reform; the WTO Response to the COVID -19 
Pandemic including the Joint Statement on Agriculture Export Pr ohibitions or Restrictions relating to 
World Food Program; and the promotion of Micro, small and medium -sized enterprises.  
4.367.   As an important regional hub for global supply chains, Singapore maintains an open economy 
and trading regime with the focus on provi ding services that support and complement other 
manufacturing economies in the region, including Viet Nam. Therefore, Singapore’s strong economic 
and trade growth supports the wellbeing of our regional grouping – ASEAN.  
4.368.   We are pleased to note that from 20 16 to 2019, the real GDP growth rate in Singapore was 
more than 3% per year, and the import and export turnover growth rate was around 7% per year.  
4.369.   Not only contributing significantly to ASEAN’s economic and trade growth, Singapore has 
also helped steerin g ASEAN towards deeper regional and global economic integration through the 
impressive project of ASEAN Economic Community with a great success.  
4.370.   In the context of the COVID -19 pandemic, Singapore plays a role model in the region on 
how to keep trade open while effectively bringing the pandemic under control, working in solidarity 
with the region and the world.  
4.371.   Sharing the membership in ASEAN, APEC and the CPTPP Agreement, Singapore is not only 
Viet Nam’s geographically close neighbour, but also a significa nt trading partner.  WT/TPR/W/ 195 • Singapore  
 
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  4.372.   Allow me to provide some impressive highlights about bilateral trade and investment 
relationship between Singapore and Viet Nam:  
4.373.   Regarding bilateral trade, we are pleased that Singapore has been a long -standing economic 
partner of Vie t Nam. Currently, Singapore is Viet Nam’s fourth -largest trading partner in ASEAN and 
tenth -largest trading partner in the world. In 2020, trade volume between Singapore and Viet Nam 
reached USD 6.7 billion. In the first 7 months of 2021, the total bilater al trade value reached 
USD 4.8 billion, up by 28.4% year on year. These numbers are a clear demonstration of our 
strengthening economic cooperation even during the pandemic.  
4.374.   In terms of investment, Singapore was the biggest foreign investor in Viet Nam in  2020 with 
a total investment of USD 9 billion, accounted for 31.5% of total foreign investment in Viet Nam.  
4.375.   The bilateral trade and investment relationship between Singapore and Viet Nam is now in 
the period of healthy and comprehensive development. We strongly believe that the two countries 
have many potential opportunities to advance. Therefore, to further enh ance bilateral trade, we 
would continue promoting and facilitating the connection of the two economies to make economic 
cooperation more effective and commensurate with the potentials of the two countries.  
4.376.   Lastly, on this occasion, I would like to express  my appreciation to the Singapore’s Geneva -
based team led by His Excellency Ambassador Tan Hung Seng who has been proactively contributing 
to the work of the WTO. Allow me to conclude my statement by wishing Singapore a successful 
Trade Policy Review.  
NEW  ZEALAND  
4.377.   New Zealand values our constructive trade and economic relationship with Singapore. 
Singapore has been an important trading and investment partner for New Zealand for many years. 
Singapore is currently our 6th largest trading partner. We are both small trading nations that are 
dependent on an open multilateral trade environment for our well -being and prosperity. COVID -19 
has reinforced the importance of our relationship, including through our cooperation to keep supply 
chains open and functioning. Our Comprehensive Economic Partnership reflects our close 
cooperation and shared vision.  
4.378.   New Zealand commends Singapore's ongoing active approach to trade liberalization, in 
particular its free trade agreement agenda and consistent ambition for high -qualit y and 
comprehensive outcomes, an ambition that New Zealand shares. We are pleased that the strategic 
vision we had for global and regional integration has been realised, first through the P4 Agreement 
with Chile and Brunei, and its expansion to the now ele ven-member Comprehensive and Progressive 
Trans -Pacific Partnership (CPTPP). Since Singapore and New Zealand ratified the CPTPP in 2018, we 
have valued the strong relationship maintained between the two countries in the implementation of 
the high standards Agreement. New Zealand looks forward to ongoing engagement with Singapore 
as it takes on the role of CPTPP Chair in January 2022.  
4.379.   New Zealand and Singapore are both members of the ASEAN -Australia -New Zealand Free 
Trade Agreement and most recently we signed  the Regional Comprehensive Economic Partnership 
Agreement.  
4.380.   New Zealand welcomes our ongoing cooperation with Singapore and Chile on the Digital 
Economy Partnership Agreement (DEPA), which entered into force for both our countries this 
January. We are ple ased by the interest that the Digital Economy Partnership Agreement has 
received so far and have strong ambitions that it can serve as pathfinder agreement that attracts 
others to join and a building block that informs the ambition of broader multilateral digital trade 
negotiations. New Zealand looks forward to working with Singapore on the implementation of the 
DEPA, including cooperation on the SME Dialogue, the electronic certification of agricultural products, 
and pilot initiatives on paperless trading.  We welcome Singapore’s cooperation and constructive 
support during APEC 2021 and look forward to continuing to work with Singapore to advance 
common goals across the APEC agenda.  WT/TPR/W/ 195 • Singapore  
 
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  4.381.   New Zealand values our cooperation with Singapore on global supply chains, i ncluding our 
initiation of a Joint Ministerial Statement in March 2020 which affirmed our shared commitment to 
maintaining open supply chains.  
4.382.   We welcome Singapore's ongoing commitment to the rules -based multilateral trading 
system. We both recognize the importance of a level playing field that allows all economies, 
regardless of their size, to compete fairly.  
SWITZERLAND  
4.383.   I would like to start by extending a warm welcome to Singapore’s delegation led by 
Permanent Secretary Lee Chuan Teck. I would also like  to thank H.E. Ambassador Dagfinn Sørli 
(Norway) for his valuable observations as a discussant, and the Secretariat for its substantive 
contribution to this Review.  
4.384.   It is a great pleasure for me to take the floor on this occasion, as Singapore is Switzerl and's 
most important trade and investment partner within ASEAN and the fifth most important trading 
partner in the whole of Asia. Together with the other EFTA states, we have a free trade agreement 
with Singapore since 2003.  
4.385.   Despite the challenge of the p andemic and its repercussion on the economy of Singapore, 
the country has always been a strong supporter of the open and rules -based multilateral trading 
system, as embodied by the WTO. Repercussions brought about by pandemic have actually 
reinforced the i mportance of maintaining Singapore's connectivity and openness to the world. As we 
know, in 2020, more than half of merchandise exports (55%) were re -exports. The main market 
and supplier is of course the Asia -Oceanian region, but trade flows indicate majo r partners outside 
the region, starting with the United States and the European Union. Likewise, foreign direct 
investment flows underline the importance of extra -regional partners, as much as they are indicative 
of Singapore’s business friendly environmen t and attractive investment schemes.  
4.386.   As for the challenges ahead – namely a potential slowdown of the economy due to the 
pandemic in a context of continued trade tensions involving major economies, as well as a rapidly 
ageing population – Singapore has not  been waiting to embark on an economic transformation 
aiming at reinforcing its open and connected economy. Since 2014, the city -state has been 
consistently pushing ahead with the digitalization of its economy and has the ambition to become 
Asia's fintech hub. Key features of the trade policy of Singapore are building skills and capabilities, 
supporting innovation and digitalization, as well as constantly improving its business environment. 
As such, Singapore represents a role model as a very open economy a nd a trading hub with global 
reach.  
4.387.   I would like to take this opportunity to commend Singapore’s exemplarity as a member of 
the WTO. As a strong supporter of the rules -based multilateral trading system, Singapore is the 
co-convener of the Joint Statement Initiative on E -Commerce, participates in the joint initiatives on 
investment facilitation and on micro, small, and medium -sized enterprises, and takes part in the 
Trade and Environmental Sustainability Structured Discussions.  
4.388.   More recently, Singapore’s l eadership to contribute to a multilateral solution at MC12 in the 
context of trade and health has been particularly appreciated. We hope that those efforts will lead 
to a tangible result in the framework of the upcoming ministerial meeting. In such a chall enging 
time, we do invite Singapore to pursue its valuable role and leading contribution to a strong 
multilateral trading system.  
4.389.   We thank H.E. Ambassador Tan Hung Seng and the delegation of Singapore for their 
appreciated contribution to the work of the WTO. We wish Singapore constructive and fruitful 
exchanges within this Trade Policy Review.  
QATAR  
4.390.   Qatar associate itself with the statement delivered by the delegation of Bahrain on behalf of 
the GCC.  WT/TPR/W/ 195 • Singapore  
 
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  4.391.   Allow me to start by extending our warmest welcome to H .E. Mr Lee Chuan Teck, Permanent 
Secretary for Development at the Ministry of Trade and Industry, H.E. Ambassador Tan Hung Seng, 
Permanent Representative of Singapore, and the rest of Singaporean delegation whose efforts are 
very apparent in the Reports an d the statement. We would like to thank you also , Madam Chair, as 
well as the Secretariat, and the discussant, H.E. Ambassador Dagfinn Sørli, for his outstanding 
presentation.  
4.392.   We are pleased to attest that Qatar and Singapore share a robust economic relation, our 
both economies have similar characteristics and are highly dependent on trade. Our countries are 
strong partners with large trade and investment volumes.  
4.393.   For the period under review which was marked by an unprecedented health and eco nomic 
crisis triggered by the COVID -19 pandemic, Qatar would like to applaud Singapore commitment to 
keeping its markets open, promoting competition, and supporting businesses and workers 
throughout the crisis; Singapore has committed a considerable amount  of its GDP in economic, social 
and health support.  
4.394.   Singapore's strategies to develop and maintain a business -friendly environment, strong rule 
of law, skilled and diverse workforce, advanced infrastructure, and a globally competitive ecosystem 
of financia l and professional services, has placed it as a global business and trade hub, and allowed 
it to remain an attractive investment destination for many global companies in a diverse range of 
sectors. Singapore topped many Global rankings in Competitiveness a nd for doing business.  
4.395.   Another brilliant aspect of recent developments in Singapore is its heavy investment in 
workforce development as the SG United Jobs and Skills Package which was introduced in May 2020 
to create jobs and training opportunities for wor kers affected by the economic fall -out from the 
pandemic. Singapore has also launched in April 2017, the SMEs Go Digital programme that made 
going digital simpler for SMEs.  
4.396.   Qatar would like to note also that Singapore has consistently supported efforts to strengthen 
the rules -based multilateral trading system and to ensure that the WTO remains relevant for the 
future.  
4.397.   Qatar and Singapore have participated in the Joint Statement Initiatives (JSIs) to address 
key emerging issues such as electronic commerce (E -Commerce). Singapore also participates 
actively in other JSIs, such as investment facilitation for development and micro, small, and medium 
enterprises. Singapore is also actively involved in ongoing WTO discussions on forward -looking 
issues like trade an d health, and trade and environmental sustainability.  
4.398.   Singapore also partnered with Qatar in the initiative that aimed at Prohibiting Export 
Restrictions Relating to Purchases made by the World Food Programme despite challenging times.  
4.399.   In conclusion, we commend Singapore’s role in the multilateral trading system , and we wish 
the Singaporean delegation every success for its 8th TPR.  
TAJIKISTAN  
4.400.   At the outset, I would like to join others to welcome Singapore delegation led by 
H.E. Mr. Lee Chuan Teck, Permanent Secretary (Development), Ministry of Trade and Industry (MTI) 
and extend our appreciation to the Singaporean delegation, to the discussant, H.E. Ambassador of 
Norway, and the Secretariat for the excellent exercise of the Trade Policy Revi ew of Singapore.  
4.401.   Diplomatic relations with Singapore were established in 1995. The State visit of the Founder 
of Peace and National Unity, Leader of the Nation, President of the Republic of Tajikistan, 
H.E Mr. Emomali Rahmon, to Singapore was held in 2010.  During the visit, several agreements were 
signed that laid a solid foundation for mutually beneficial cooperation in various fields. A business 
forum was also held during the visit which was attended by the President of Tajikistan. The legal 
framework of the two countries accounts  several interstate and intergovernmental agreements.  
4.402.   This eighth Trade Policy Review of Singapore provides an excellent opportunity to improve 
our understanding of its trade and investment policies.  WT/TPR/W/ 195 • Singapore  
 
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  4.403.   Singapore's economy has long b een characterized by solid growth, low unemployment, 
financial stability, and openness to international trade and investment. Today, Singapore has one of 
the highest GDPs per capita in Asia (USD 59,819). Between 2016 and 2019, the Singaporean 
economy expan ded at an average annual rate of 3.1%, driven mainly by domestic consumption and, 
in some years, by net exports, while the contribution of gross investment was modest. In 2020, due 
to the COVID -19 pandemic, the GDP contracted by 5.4%.  
4.404.   As strong supporter o f the rules -based multilateral trading system, Singapore is the 
co-convener of the JSI on e -commerce, participates in the joint initiatives on investment facilitation 
for development and on micro, small, and medium -sized enterprises, and takes part in the Trade 
and Environmental Sustainability Structured Discussions. Singapore is also a party to the ITA.  
4.405.   We are confident that Singapore will continue to undertake further trade policy reforms to 
maintain an open WTO -consistent trade and investment regime to s ecure sustainable growth.  
4.406.   To conclude, the Republic of Tajikistan commends the hard work and strong commitment of 
Singapore and wishes a very successful and productive Trade Policy Review.  
COLOMBIA  
4.407.   Permítame primero excusar al Embajador de Colombia, Santia go Wills, quien por sus 
compromisos como presidente de las negociaciones en pesca no ha podido atender hoy.  
4.408.   Saludamos atentamente a la delegación de Singapur, encabezada por el Sr Lee Chuan Teck, 
Secretario Permanente de Desarrollo del Ministerio de Comer cio e Industria (MTI), por el Embajador 
Tan Hung Seng, Representante Permanente ante la OMC Y OMPI de la Misión Permanente de la 
República de Singapur (y gran amigo de esta Casa), y por la Sra. Tan Lay Lin, Directora del Cluster 
de Comercio Internacional d el Ministerio de Comercio e Industria de Singapur.  
4.409.   Agradecemos el completo análisis y comentarios presentados por la delegación, así como el 
trabajo de la Secretaría y de las autoridades de Singapur en la elaboración de los Informes tan 
completos y detalla dos, los cuales fueron elaborados en momentos complejos de la pandemia por 
COVID -19 que a la fecha nos siguen afectando.  
4.410.   Colombia quisiera destacar que Singapur está compuesto por sesenta islas, es en realidad 
el país más pequeño en el Sudeste de Asia y un o de los más pequeños del mundo; hecho que le ha 
valido, entre locales y extranjeros, el cariñoso apodo de “el pequeño punto rojo”.  
4.411.   Ahora, este pequeño punto rojo es el estándar más alto del mundo moderno, con la actitud 
de un león y el encanto de una sire na. “Singapura” en sólo cincuenta años, ha logrado lo que la 
mayoría de los países en el mundo no han hecho en más de doscientos. Con una de las mejores 
educaciones del mundo, el agua más limpia y las calles más seguras, la calidad de vida de esta 
ciudad -estado es motivo de verdadera admiración.  
4.412.   Exactamente en el lado opuesto del planeta está Colombia, con suficiente tierra para 
acomodar más de mil “pequeños puntos rojos” en su diversa topografía y ciudades densamente 
pobladas. La zona metropolitana de Bogo tá (la capital), tiene más del doble de habitantes que todo 
Singapur.  
4.413.   Colombia y Singapur siendo literalmente antípodas geográficas, tienen muchas similitudes, 
como el compartir dos especies de orquídeas como su flor nacional, una etnografía diversa con a l 
menos cuatro diferentes razas e idiomas en cada país y, por supuesto, sus respectivos productos 
culinarios populares como las versiones del famoso chicken rice o arroz con pollo y el nasi padang 
que se parece un poco a la bandeja paisa con el huevo frito  encima del arroz, pero sin arepa.  
4.414.   A nivel de comercio bilateral, la balanza comercial de bienes de Colombia con Singapur 
mantuvo una tendencia superavitaria hasta el año pasado, donde nuestras exportaciones de bienes 
minero -energéticos se vieron altamente  afectadas por la pandemia. El comercio global sumó 
USD 128 millones. Las exportaciones de Colombia a Singapur alcanzaron USD 18,3 millones en 
2020, de los cuales USD 6,1 millones corresponden a bienes no minero energéticos. Solo en el primer 
semestre de 2 021, Colombia exportó a Singapur USD 31,6 millones.  WT/TPR/W/ 195 • Singapore  
 
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  4.415.   En materia de servicios. En el primer semestre de 2021, las exportaciones de servicios 
colombianas a Singapur totalizaron USD 29,2 millones. Las importaciones de servicios de Colombia 
desde Singapur llega ron a USD 120 millones en 2020.  
4.416.   En materia de inversiones, la inversión acumulada de Singapur en Colombia desde el 2002 
asciende a USD 119,6 millones. Singapur ocupa la cuarta posición como aportante desde la región 
de Asia.   
4.417.   Son varios los puntos concre tos que Colombia quisiera resaltar del Examen de la Singapur.  
• Primero, los documentos de la Secretaría y del Gobierno dan cuenta del compromiso de 
Singapur con el sistema multilateral de comercio y con sus principios fundacionales. Como 
economía libre y ab ierta, por ejemplo, sigue participando activamente en las negociaciones 
de la OMC, incluso trabajando con todos los miembros para liberalizar sus compromisos en 
materia de servicios financieros en el marco del AGCS.  
• Segundo, dan testimonio de que Singapur  defensor del sistema multilateral de comercio 
basado en normas. Singapur es coorganizador de la Iniciativa relativa a la Declaración 
Conjunta sobre el Comercio Electrónico, participa en las iniciativas conjuntas relativas a la 
facilitación de las inversio nes y a las microempresas y pequeñas y medianas empresas, y 
toma parte en los Debates Estructurados sobre el Comercio y la Sostenibilidad Ambiental. 
También es Parte en el Acuerdo sobre Tecnología de la Información.  
• Tercero, muestran a Singapur como gesto r de la integración describiendo las negociaciones 
concluidas con varios Miembros, incluyendo a Colombia en el marco del Acuerdo de Libre 
Comercio que compartimos con Perú, México y Chile en el marco de la Alianza del Pacifico. 
Este acuerdo representa el c ompromiso de las partes de garantizar una mayor integración 
económica y de apoyar el multilateralismo basado en reglas.  
• Finalmente, Colombia celebra que uno de los principales objetivos de la política comercial de 
la Singapur sea incrementar su participac ión en el comercio internacional por medio la 
diversificación de las exportaciones,  ampliar las oportunidades internacionales para las 
empresas establecidas en el país, promover un entorno comercial previsible y equitativo, y 
reducir al mínimo los obstácu los a las corrientes de importaciones y exportaciones mediante 
la mejora del entorno comercial y empresarial del país.  
4.418.   Colombia presentó algunas preguntas, que, debido a algunos pequeños inconvenientes 
técnicos, han sido enviadas el día de hoy, por lo que nos excusamos. Las preguntas versan sobre a 
su régimen de inversión, el programa de transformación económica, las medid as de apoyo para la 
expansión en los mercados internacionales, los acuerdos regionales en vigor, los sistemas de gestión 
de la reglamentación de la ASEAN de 2019, cargas que afectan a las importaciones, los criterios en 
el Sistema Integrado de Facilitación  del Comercio (TradeFIRST), entre otras. Las respuestas serán 
analizadas en detalle con nuestras autoridades.  
4.419.   Finalizo deseándole a Singapur y a su delegación un exitoso cierre del proceso de Examen 
de sus políticas comerciales, el cual se ha desarrollado positivamente a pesar del programa ajustado 
que se ha debido adoptar. Extendemos un cordial saludo, y reiteramos todo nuestro apoyo. Aunque 
Colombia y Singapur son antípodas, tienen más cosas en común de las que imaginamos. Los 
verdaderos enla ces entre estas dos naciones, a pesar de todas las diferencias, están en el orgullo 
de sus ciudadanos. Es por ello que hoy más que nunca los felicitamos: majulah Singapura.  
NEPAL  
4.420.   The delegation of Nepal would like to extend warm welcome to the delegation o f Singapore 
led by his Excellency Mr. Lee Chun Tek, Permanent Secretary of Ministry of Trade and Industry of 
Singapore and would like to extend sincere appreciation for his comprehensive presentation at the 
beginning of the meeting by highlighting major as pects of this TPR.   
4.421.   I wish to appreciate H.E. Mr Dagrinn Sorli, Ambassador of Norway, for his insightful 
deliberation as a discussant.  WT/TPR/W/ 195 • Singapore  
 
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  4.422.   At the outset, my delegation commends the Government of Singapore and the WTO 
Secretariat for comprehensive reports.  
4.423.   Both Trade Policy Review reports prepared separately by the WTO Secretariat and the 
Government of Singapore have demonstrated that the economy of Singapore is heading towards the 
path of sustainable, innovation -led recovery from the COVID -19 pandemic.  
4.424.   Economic prosperity obtained by Singapore in the past decades has been the successful 
development and growth model to the developing countries including Nepal who aspire for the 
sustainable economic growth and development in twenty first century.     
4.425.   Nepal and  Singapore have been enjoying cordial relations since the establishment of bilateral 
relations in 1969.  
4.426.   Both countries have been sharing common views in different platforms of international 
cooperation.  
4.427.   Trade, tourism, investment, and economic cooperatio n remain major areas of bilateral 
cooperation and collaboration on the basis of mutual benefit.  
4.428.   Bilateral trade between the two countries has become an important means of deepening the 
relation at the people -to-people level.  
4.429.   The preliminary trade data rev eals that Nepal exported total value of NPR 70 million to 
Singapore while imported from Singapore total value of NPR 4.17 billion resulting a huge negative 
trade balance for Nepal of about NPR 4.1 billion in the year 2020.  
4.430.   Main exporting products of Nepal  to Singapore were red lentils, dog or cat foods, cotton 
trousers, carpet, Yarchagumba, paintings and woolen shawl, etc. whereas the main imports of Nepal 
from Singapore were concentrated on non -alcoholic soft drinks, furnace oil, sauce and sauce 
preparati ons, methionine, computer server and network server, electro -medical instruments and 
appliances and copper scrap, among others.  
4.431.   Export of Nepal is decreasing and import from Singapore is on the rise over the recent past 
years.  
4.432.   Such situation can be an opp ortunity for both countries to explore potential areas in trade, 
tourism, and investment for collaborating and partnering with a view to narrowing the trade gap in 
the days ahead.  
4.433.   My delegation would be happy to further engage with the delegation of Singa pore to discuss 
possible areas of collaboration and cooperation for mutual benefit focusing on exploring possible 
ways to bridge the existing trade imbalance in the days to come.  
4.434.   Finally, my delegation wishes a successful conclusion of the eighth Trade Pol icy Review of 
Singapore.  
EL SALVADOR  
4.435.   Quisiera iniciar mi intervención dándole la bienvenida en nombre de El Salvador a la 
delegación de Singapur encabezada por el Secretario Permanente Lee del Ministerio de Comercio e 
Industria, y agradecer al Embajador Sø rli por sus valoraciones. Hago también patente mis saludos 
al Embajador Tan y su equipo en Ginebra.  
4.436.   El Salvador, un país pequeño como Singapur, nota con admiración que entre 2016 y 2019 
la economía singapurense creció a una tasa anual del 3,1%, impulsada principalmente por el 
consumo interno y en algunos años por las exportaciones netas. Como hemos visto en todos los 
exámenes de las políticas comerciales que se han realizado post 2020, la pandemia de la COVID -19 
tuvo efectos importantes en el desempeño eco nómico de los Miembros en examen; Singapur no ha 
sido la excepción. Debido a las medidas de contención y las restricciones de viaje aplicadas para 
abordar la crisis sanitaria, aunadas a la contracción de la demanda externa y las interrupciones en WT/TPR/W/ 195 • Singapore  
 
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  las caden as globales de valor, la economía de Singapur se contrajo en un 5,4% en 2020. Esta 
contracción fue mitigada por una inversión de casi 20% del PIB en medidas fiscales y monetarias 
que, entre otras cosas, facilitaron el acceso a financiamiento a las pequeñas  y medianas empresas, 
e impulsaron la adopción de nuevas tecnologías.  
4.437.   Este tipo de programas han sido de particular interés de San Salvador, y en un conversatorio 
en el marco del evento de balance de la ayuda para el comercio de marzo de este año, la Minis tra 
de Estado Low de Singapur compartió con su homóloga salvadoreña la estrategia singapurense que 
incluye Mapas de Transformación Sectoriales para varios sectores industriales, en la que se prevé la 
implantación de nuevas tecnologías y programas de capaci tación, se establecen marcos de 
cooperación entre las partes interesadas pertinentes y se ofrecen incentivos para su adopción.  
4.438.   Hemos notado también con interés el programa de reformas para la transformación 
económica basado en las recomendaciones de 2017 d el Comité de Economía del Futuro. Estas 
recomendaciones promueven el crecimiento y la competitividad en 23 sectores económicos 
(manufacturas y servicios), los cuales representan alrededor del 80% del PIB de Singapur. 
Asimismo, notamos que en estas reformas  se han aplicado varios programas de incentivos dirigidos 
a particulares y empresas a fin de promover la automatización y la adopción de nuevas tecnologías, 
algo que permitió que las MiPYME durante la pandemia hicieran el salto hacia el comercio electrónic o.  
4.439.   Ha sido de particular interés de El Salvador la implementación de la Ventanilla Única de la 
ASEAN, y el formulario D, que funge como declaración y certificado de origen combinados, y que es 
transmitido electrónicamente en virtud del Acuerdo sobre el Co mercio de Mercancías de la ASEAN a 
otros Estados miembros de la ASEAN. Esta práctica es complementada por el régimen de 
autocertificación de la ASEAN que permite a los exportadores certificados registrados en todos los 
Estados miembros de la ASEAN autodecl arar el origen de sus exportaciones en el marco del ATIGA.  
4.440.   El comercio bilateral en los últimos años entre El Salvador y Singapur han sido tímidos, pero 
consideramos que la recuperación económica presenta una oportunidad para dinamizarlos y hacerlos 
crecer . 
4.441.   En el marco multilateral, reconocemos la contribución de Singapur a favor del sistema 
multilateral del comercio y su activa participación en las negociaciones en curso y el trabajo ordinario 
de la Organización. En particular la activa participación del E mbajador Tan en el marco de las 
negociaciones sobre el comercio electrónico. Esperamos continuar trabajando en conjunto con 
Singapur y el resto de Miembros para lograr una Conferencia Ministerial exitosa.  
4.442.   Finalmente, le deseo a la delegación de Singapur e l mayor de los éxitos en este ejercicio que 
se enmarca en los ejercicios de transparencia esenciales para el funcionamiento del sistema 
multilateral de comercio.  
NIGERIA  
4.443.   We would like to congratulate Singapore for their 8th Trade Policy Review. I would like to 
extend our warm welcome to the entire delegation of Singapore, the head of the delegation of 
Singapore, the Permanent Secretary of the Ministry of Trade and Industry, Mr. Lee Chuan Teck, and 
also the Ambassador Mr. Tan Hung Seng here in Genev a for his effective contribution here at WTO. 
The report before us today reflects the excellent work of the Secretariat and the Government of 
Singapore. Both reports spelt out the key objectives of Singapore`s trade and economic policies and 
the progress m ade since the last review.  
4.444.   We note that over the last two decades the Singaporean economy has witnessed an 
exponential increase in living standards with the highest GDP per capita in Asia due to their 
impressive macroeconomic policies. We also observed tha t the main contributor to Singaporean GDP 
is the services sector which is very important in the creation of employment and the distribution of 
income in an economy. We commend also the significant growth of the manufacturing industry of 
Singapore.  
4.445.   The econ omic declines experienced by the Singaporean economy in the year 2020 as a result 
of the Pandemic and the sudden disruption of the supply and demand chain coupled with its 
devastating effect in the economy which saw a drop in the country’s balanced budget was an WT/TPR/W/ 195 • Singapore  
 
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  experience shared by most of the world`s economies during the year 2020. However, the country’s 
monetary policies implemented in order to mitigate the effects of the pandemic shows the country’s 
ability to be resilient and responsive in the time of adversity. We expect a full economic recovery of 
the Singaporean economy soon as a result of the efficacy of their various economic policies.  
4.446.   Since the last Trade Policy Review of Singapore, the country’s openness to trade continues 
to be one of the most attractive features of their economy and has solidified their position as a 
trading hub. The country is commitment to ensuring the predictability of the multilateral trading 
system and this is evidenced in their speedy ratification of the trade facilitatio n agreement and their 
full implementation of the provision of the agreement since its entry into force in 2017. The huge 
inflow of FDIs in Singapore further emphasizes the importance of a country`s openness to trade in 
line with WTO principles.  
4.447.   We note fro m the Secretariat’s report that the Singaporean economy may experience a 
potential decline in their exports of transport and travel services as a result of global travel 
restrictions and a potential slowdown of world merchandise trade.  
4.448.   Similarly, the pred ictions contained in the secretariats report of some foreseeable challenges 
to the Singaporean economy both in the short term and the long term such as exposure to the 
volatility of financial markets, rapidly aging population and skill mismatches among oth er challenges 
calls for concern. However, the efforts made by Singapore to address these future challenges such 
as its launch of the economic transformation agenda to build a value creating economy through 
various means including through the support of inn ovation will adequately address these challenges.  
4.449.   In conclusion, my delegation would continue to work closely with the Singapore and the rest 
of the Membership, to achieve a rules -based multilateral trading system that is responsive to the 
COVID -19 pandemi c, future pandemics and the 21st century economic realities.  
4.450.   We congratulate the entire delegation for their engagement,  and we wish Singapore a 
successful 8th Trade Policy Review exercise.  
KINGDOM  OF SAUDI  ARABIA  
4.451.   The Kingdom of Saudi Arabia is very pleas ed to take part in the eighth Trade Policy Review 
of Singapore and wishes to extend a very warm welcome to its distinguished delegation headed by 
H.E. Mr. Lee Chuan Teck, Permanent Secretary of the Ministry of Trade and Industry.  
4.452.   The Kingdom of Saudi Arab ia wishes to thank Singapore and the Trade Policies Review 
Division of the WTO Secretariat for their detailed reports. We also thank the discussant, 
H.E. Mr. Dagfinn Sørli from Norway for his perceptive introductory remarks.  
4.453.   The trade policy review report s of the Secretariat and the Government of Singapore highlight 
the continuous progress of Singapore’s economy in the recent years in terms of GDP growth and 
trade expansion. Singapore's economic growth continued to be strong for most of the period under 
review and expanded at an average annual rate of 3.1%, driven mainly by domestic consumption 
and net exports.  
4.454.   Nevertheless, despite this impressive economic growth, Singapore like the rest of the world 
economies has been facing the challenges caused by the COVID -19 pandemic. These challenges are 
being addressed through Fiscal and monetary policies along with other stimulus measures to 
accelerate the economic recovery.  
4.455.   Open trade is clearly vital for Singapore as it continues its development and growth. 
Singapore is to be commended for its economic transformation agenda which aims at building an 
open value -creating economy through building skills and capabilities and supporting innovation and 
digitalization.  
4.456.   We also praise Singapore for establishing an open and free business environment, a modern 
infrastructure and a strong financial system. Being one of the most competitive and business -friendly 
economies in the world, Singapore became a leading foreign direct investment recipient.  WT/TPR/W/ 195 • Singapore  
 
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  4.457.   We commend Singapore for its trust in the multilateral trading system and for its active 
engagement in negotiations with a view to concluding preferential trade agreements to secure more 
favorable market access for its goods and services within and outside of Asia. The GCC -Singapo re 
Free Trade Agreement (GSFTA) is a milestone agreement in strengthening ties between Singapore 
and the GCC countries.  
4.458.   Saudi Arabia has remarkable trade relations with Singapore. The value of two -ways trade 
between the two countries in 2020 exceeded USD 6.7 billion. The Saudi -Singapore Business Council 
(SSBC) which was established in 2006 remains very active in paving the way for closer economic 
ties, to strengthen trade cooperation and to enhance investment opportunities in the two countries.   
4.459.   In closin g, Singapore is an active Member of this Organization and an active supporter of 
the multilateral trading system. The Kingdom of Saudi Arabia congratulates Singapore for its solid 
economic performance.  
4.460.   I wish the delegation of Singapore a very successful Trade Policy Review.  
JORDAN  
4.461.   I would like to start by extending a warm welcome to the Singapore delegation led by 
H.E. Mr. Lee Chuan Teck, and to join other delegations in thanking them for the efforts exerted in 
the preparation of the Trade Policy Review.  
4.462.   Thanks also are extended to the WTO Secretariat for their excellent report and to the 
discussant, H.E. Mr. Dagfinn Sørli, Ambassador of Norway, for his insightful remarks, and sure, for 
you Madam Chair.  
4.463.   I would like also to welcome the opening statement de livered this morning by the Head of 
the Singaporean delegation and the detailed introductory remarks which show the positive 
developments in the Singapore economy, and the solid response to the COVID -19 pandemic, in 
addition to the Singapore's commitment t o the multilateral trading system.  
4.464.   Jordan noticed that the reports provide valuable information on Singapore’s policies for the 
period under review, that highlighted the country’s efforts to make the overall trading environment 
more open, transparent, and efficient. It is clearly noticed that the solid trade policy in the country 
made Singapore a strong supporter of the rules -based multilateral trading system and accelerating 
the economy transformation into innovation -led economy, IP matters and placing its  position as a 
key and trusted node in the global supply chains.  
4.465.   This policy has been translated in Singapore's vital role to response to the pandemic through 
keep its borders and connectivity channels open to facilitate the efficient flow of goods, and it s 
commitments to support the safe and efficient distribution of COVID -19 vaccines, and essential 
goods as well.  
4.466.   Singapore continues its efforts in raising level of trade liberalization at regional and bilateral 
level. According to the report, three free tr ade agreements were completed during the period under 
review as Singapore sees bilateral and plurilateral Free Trade Agreements as a practical way for 
complement multilateralism.  
4.467.   The relations between Jordan and Singapore have grown steadily over the past decades. 
Jordan and Singapore face similar challenges as countries with small populations and limited natural 
resources, this requires adopting  effective policies to tackle the ex ternal challenges. Both countries 
seek to strengthen areas of bilateral cooperation including trade, investment, education, ICT and 
many other matters related to sustainable development. Further, there are always new horizons to 
explore and develop the bil ateral relations especially after signing the FTA between the two countries 
that aims to strengthen economic relations and raise the level of trade exchange in goods and 
services.  
4.468.   Jordan appreciates its longstanding relations with Singapore, and always lo oks forward to 
advancing cooperation in different areas of mutual interest. We would like to congratulate Singapore WT/TPR/W/ 195 • Singapore  
 
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  and the business society for their efforts and valuable contribution in the world trade hand in hand 
with other trading partners.  
4.469.   Finally, we would like to thank and congratulate the Permanent Representative of Singapore 
in Geneva and his team for their very constructive role in preserving and consolidating the 
multilateral trading system.  
4.470.   We wish Singapore a fruitful and successful Trade Po licy Review.  
SRI LANKA  
4.471.   My delegation welcomes the delegation of Singapore led by Hon. Mr. Lee Chuan Teck, 
Permanent Secretary of the Ministry of Trade and Industry and the rest of Singaporean delegation, 
for the eighth Review of the trade policies and pra ctices of Singapore.  
4.472.   We thank H.E. Mr. Dagfinn Sørli, the Ambassador of Norway, the discussant, for his report 
and insights, and the WTO Secretariat and the Government of Singapore for their comprehensive 
reports made available to the delegations in advan ce of this meeting.  
4.473.   My delegation acknowledges Singapore's trade policies, which focuses on four key priorities: 
navigating the post -pandemic economic landscape; supporting and contributing to the global 
multilateral trading system; enhancing regional and bilateral trade cooperation and promoting an 
inclusive and sustainable trade policy.   
4.474.   We acknowledge that Singapore is a strong supporter of the open and rules -based 
multilateral trading system and recently has been an author of proposals, including the p roposal on 
agriculture export prohibitions or restrictions relating to the World Food Programme, which is still 
under discussion. We understand Singapore’s concerns in this area and  presume that the food 
security concerns of other small developing countries were also at the center of its proposal, when 
it also participated in this joint statement with co -sponsors representing 79 WTO Members. 
Singapore is also an active participant in  Joint Statement Initiatives as a co -convener. We wish to 
recognize that all those initiatives and participation have projected at intensifying its commitments 
to the multilateral trading system.  
4.475.   We also note that Singapore has not been involved in any of  the trade disputes at the WTO 
either as complainant or respondent during the review period, which is a noteworthy development.   
4.476.   Singapore and Sri Lanka have a strong bilateral partnership underpinned by close people to 
people linkages. 2020 was an import ant year for the two countries with the celebration of 50 years 
of formal diplomatic ties. Many activities were organized to commemorate the 50 years of 
establishment of diplomatic relations including a commemorative product launch and issuing of two 
stamp s especially designed for the occasion to depict the theme “Marine Conservation”, and 
showcase the restoration of Coral Ecosystem in Sri Lanka, and Mangroves in Singapore and reflects 
the shared interest and commitment of both countries in protecting the m arine environment. In the 
past 50 years, the bilateral relationship has become multi -faceted, encompassing in key areas of 
trade and investment sector cooperation.  
4.477.   On bilateral trade, Singapore was the 21st export market for Sri Lanka and the 5th Import 
partner of Sri Lanka in 2020. Sri Lanka’s main exports to Singapore are mineral fuel and oils, 
alcoholic beverages, textiles, precious and semi -precious stones, Ceylon Tea, Sea food and ethnic 
products. Petroleum oil is the main import items from Singapore. New opportunities emerged for 
PPE products, e -commerce and agri -business sectors particularly for ethnic products due to the 
pandemic situation.  
4.478.   Foreign direct investment into Sri Lanka from Singapore was valued at USD 97 million in 
2019, ranking at 5th la rgest FDI investor in Sri Lanka and USD 43 million valued up to 
September  2020. Investments are mainly in the manufacturing and infrastructure development, 
export -oriented  manufacturing, logistics, tourism and leisure infrastructure, and food processing. 
There are approximately 100 Singaporean companies operating in Colombo. The Singaporean 
investors have reaped very favourable returns on their investments in Sri Lanka and they continue 
to do so.  WT/TPR/W/ 195 • Singapore  
 
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  4.479.   Singapore considers that free trade agreements (FTAs) comple ment the rules -based 
multilateral trading system and provide to its exporters and investors numerous benefits. In line 
with that objective, Sri Lanka – Singapore Free Trade Agreement (SLSFTA) was signed on 
23 January  2018 and came into force on 1 May 2018, which is a milestone between the two 
countries. It is a modern and comprehensive free trade agreement for Sri Lanka, covering areas 
beyond trade in goods, such as trade in services, e -commerce, telecommunications, investments, 
intellectual property and gov ernment procurement, which is aimed to promote economic growth and 
stability, create new employment opportunities and improve the general welfare and, to this end, 
reaffirming the commitment to promoting trade and investment liberalization. I was very plea sed to 
be part of the negotiating team which concluded this agreement and my involvement in finalizing 
the chapter on trade remedies of the FTA.  
4.480.   During the pandemic, Singapore provided assistance through numerous non -governmental 
organizations to support Sri Lanka’s response to the COVID -19 pandemic by donating much needed 
medical equipment and supplies. These were extremely valuable and continue to be utilized.  
4.481.   COVID -19 has opened new opportunities for Singapore and Sri Lanka to collaborate. We 
believe th at there are many areas to be discovered to strengthen the bilateral relations between the 
two countries and we look forward to exploring those opportunities for further collaborations in the 
future, as Singapore’s efforts to diversify food imports are bec oming practical and meaningful choices 
for its importers. As Singapore tries to diversify its food imports to remain as food secure as possible, 
Sri Lanka is exploring and seeking to capture new markets.  
4.482.   In concluding, my delegation appreciates Singapore h ighly valued contribution to the 
multilateral trade system and its active engagement in the negotiations. The dynamic role played 
by Ambassador Tan Hung Seng, Permanent Representative to the WTO and his team in Geneva in 
proactively engaging in ongoing act ivities of the WTO, is highly commendable.  
4.483.   We wish the Singaporean delegation a successful deliberation and productive outcomes on 
its Trade Policy Review.  
  WT/TPR/W/ 195 • Singapore  
 
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  5  REPLIES BY THE REPRESENTATIVE OF SINGAPORE AND ADDITIONAL COMMENTS  
5.1.  Madam Chair, let me first thank  you and our discussant, Ambassador Sørli, for your thoughtful 
insights and comments. I would also like to express my appreciation to the 45 Members who spoke 
on Wednesday for your warm words and constructive suggestions.  
5.2.  Allow me to address some of the ke y points raised.  
Promoting Inclusive Growth  
5.3.  A number of Members commented on the importance of creating an inclusive economy. We 
cannot agree more. In recent years, we have seen a worrying erosion in support for globalisation, 
triggered in part by growing income and societal inequalities. This must be addressed. We believe 
that the answer does not lie in erecting national barriers, but in ensuring that the full spectrum of 
our societies can reap the benefits of globalisation and growth. Inclusive gr owth is therefore a key 
objective for Singapore. Our economic strategies seek to generate social mobility, raise real incomes, 
and improve living standards for all Singaporeans.  
5.4.  We pay particular attention to two groups: displaced workers and small and med ium sized 
enterprises (or SMEs). First, displaced workers. Singapore invests heavily in workforce development 
by reskilling and upskilling workers throughout their working life so that they can adapt to new 
technologies and seize new opportunities. We have  a tripartite partnership model, in which the 
Government collaborates with employers and labour unions to co -create solutions that uplift workers 
while improving the competitiveness of businesses.  
5.5.  Specifically for displaced workers, as well as those lookin g to switch careers or industries, we 
have implemented career conversion programmes such as the Professional Conversion Programmes 
and Place -and-Train programmes. There is also the Tech Immersion and Placement Programme that 
aims to convert non -ICT profess ionals into industry -ready professionals through a short but 
immersive training programme.  
5.6.  Second, we recognise the importance of small - and medium enterprises (or SMEs) to 
Singapore's economy. SMEs are at the heart of Singapore's economy, employing two -thirds of our 
workforce and contributing to nearly half of our economy. SMEs need help in two key aspects: 
internationalisation and digitalisation. On the first, we have provided support and advice for them in 
tapping new markets. Singapore has also co -spons ored the Declaration on Micro, Small and Medium -
sized Enterprises (or MSMEs), which seeks to streamline domestic regulatory processes to facilitate 
trade and ease of access to information that contributes to promoting participation of MSMEs in 
internationa l trade.  
5.7.  On the latter, we have made digital inclusiveness a high priority. Within Singapore, we have 
put together schemes such as the SMEs Go Digital programme to help SMEs navigate the complexity 
of evolving technologies and support their digital transfo rmation. During the pandemic, for example, 
we facilitated SMEs' efforts to adopt digital solutions that will ensure their business continuity. These 
included supporting SMEs to adopt remote working solutions, through the provision of laptop 
bundles, collab oration software, temperature screening solutions, and visitor management solutions.  
5.8.  At the WTO, Singapore is fully cognisant of the need to enhance digital inclusion among fellow 
WTO Members and to support digital capacity building in developing and least  developing Members. 
It is with this in mind that my Ministry and the Monetary Authority of Singapore will be organising a 
virtual roundtable on the "Foundational Digital Infrastructure for Inclusive Economies"; this will be 
in October. We hope that this m odest contribution will act as a catalyst by offering a platform for us 
to exchange views on how we can collaborate to develop key elements of foundational digital 
infrastructure, including digital identity, payments interoperability, data exchange, and au thorisation 
and consent. As the pandemic has demonstrated, digitalisation will play an increasingly important 
role in the "new normal" and post -pandemic recovery. We hope the roundtable discussions will allow 
participating Members to share their experience s, their successes as well as the challenges they 
face. Hopefully, through such events, WTO Members can identify the key problems, crystallise 
concrete ideas and formulate effective policy action.  WT/TPR/W/ 195 • Singapore  
 
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  Promoting Women's Economic Empowerment  
5.9.  On Wednesday, severa l Members including Madam Chair encouraged Singapore to join the 
Bueno Aires Declaration on Trade and Women's Economic Empowerment.  
5.10.  Madam Chair and colleagues, the economic empowerment of women is a high priority and 
imperative for Singapore. As a small ci ty-state with no natural resources, Singapore must maximise 
our human economic potential. Hence, Singapore has made concerted efforts over the years to 
strengthen women's participation in the workforce. In fact, Singapore's women employment rate is 
among t he highest in the world, at about 73% in 2020. We have also dedicated 2021, this year, as 
the "Year of Celebrating Singapore Women" to recognise the importance of our women's 
contributions. As my Prime Minister mentioned at the Closing Session of the Conve rsations on 
Singapore Women's Development, it is 60 years since the Women's Charter was passed, and an 
appropriate moment to review how far Singaporean women have come and also to commit ourselves 
to enabling Singapore women to play their fullest role in S ingapore.  
5.11.  Following a series of nation -wide conversations, we will soon table a White Paper in 
Parliament, recommending ways to better support women and empower them to pursue their 
aspirations. Let me share two areas where we believe more progress could b e made.  
a) First, we will step up efforts to ensure a more inclusive and equal workplace for women, 
especially in traditionally male -dominated sectors such as tech. We have been heartened by 
the pledges by corporations, including commitments to review materni ty leave and parental 
leave policies, as well as ensure inclusion and diversity in workplace practices.  
b) Second, we want to increase greater women participation on the boards of publicly listed 
companies. Singapore has set the targets of achieving 25% by 2 025 and 30% by 2030.  
5.12.  I want to assure fellow WTO Members that Singapore will closely monitor the discussions on 
women's economic empowerment at WTO and other fora with strong interest.  
Singapore's Trade and Investment Regime  
5.13.  Let me turn now to some specifi c issues that Members have raised regarding our trade and 
investment regime.  
5.14.  First, on Singapore's bound duty commitments. I would like to point out that Singapore's 
applied tariffs are zero except for four tariff lines in two product categories. Since joi ning GATT in 
1973 and becoming a founding Member of the WTO in 1995, Singapore has not imposed new tariffs. 
We will take steps to increase our bound duty commitments through future market access 
negotiations, such as the possible Environmental Goods Agreem ent negotiations.  
5.15.  Second, foreign direct investment (or FDI) restrictions. Singapore has an open and 
transparent investment regime with minimal restrictions. I will elaborate on four areas where such 
restrictions exist.  
a) In financial services, the Monetary Authority of Singapore has been liberalising the retail 
banking sector to allow greater foreign bank participation through the Qualifying Full Banks 
(or QFBs) framework since 1999. Both the number of and level of access granted to QFBs 
have expanded over t he years. The continued evolution of Singapore's QFB framework is 
aimed at allowing QFBs to build a deeper presence and be better rooted in Singapore. 
Singapore will continue to pursue further liberalisation measures in a way that strengthens 
our banking s ector while maintaining confidence and stability in the financial system. For 
example, MAS recently awarded 4 new digital bank licences in December 2020 – 2 digital 
full bank licences and 2 digital wholesale bank licences. This is but a start, and more dig ital 
bank licences may be granted in the future.  
b) Singapore also has one of the most liberal regimes for the practice of foreign and 
international law and international arbitration in the region. We have also progressively 
opened up the practice of Singapor e law in recent years through, for example, the Qualifying WT/TPR/W/ 195 • Singapore  
 
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  Foreign Law Practice licence and Joint Law Ventures. Registered foreign lawyers and foreign 
law practices can also hold up to one -third of equity interests in a Singapore Law Practice.  
c) Accounting s ervices. For accounting services, the barriers of entry into Singapore faced by 
foreign professionals today are low. The ownership and residency restrictions in place for 
public accountants and public accounting firms are necessary to preserve the professi onal 
standards and accountability of the audit industry.  
d) Finally, in the telecommunications sector, price regulation is only imposed on dominant 
licensees to prevent the abuse of market power and anti -competitive practices. The intent 
is to encourage compe tition, rather than to stifle it. Non dominant licensees are not subject 
to such a regulation.  
5.16.  Third, state -owned enterprises or government -linked corporations have always operated on 
the basis of the free market. As Ambassador Sørli observed on Wednesday,  the ownership of 
enterprises is not the pivotal factor; rather, it is how they behave and operate. The Singapore 
Government maintains an arms -length relationship with its investment companies. We do not direct 
how each company should manage its portfolio,  nor do we get involved in individual investment 
decisions. Each investment company's Board and professional management team are responsible 
for these decisions and invests on a solely commercial basis.  
5.17.  Similarly, Government -linked companies operate on a commercial basis. Many of these 
companies are publicly listed. All have to be accountable to their shareholders, which may include 
international institutional investors. They all exercise market discipline. Like all Singapore based 
companies, they are subj ect to either the general competition law, or the relevant sectoral legislation 
pertaining to competition. They do not enjoy preferential access to any incentive schemes from the 
government.  
Conclusion  
5.18.  In conclusion, allow me to once again express Singapor e's deepest appreciation to Members' 
feedback. My sincere thanks to you, Madam Chair, our discussant, Ambassador Sørli, the dedicated 
team of Secretariat staff, and Members for your active contribution in this process.  
5.19.  Our 8th TPR has been an informative a nd affirmative experience for Singapore. I will conclude 
by underlining Singapore's strong and unwavering commitment to the WTO's rules -based 
multilateral trading system. Singapore will continue to work with Members to strengthen the WTO 
and enhance its re levance, and to pave the way for a successful MC12. Thank you.  
DISCUSSANT  
5.20.  Thank you, Chair, for this opportunity to contribute to the conclusion of this Trade Policy 
Review of Singapore.  
5.21.  Listening to Member's statements on Wednesday, certain phrases were h eard frequently. We 
heard descriptions of Singapore as being a close partner, a like -minded partner, a friend, an 
example, and a role model. We heard characterizations like successful, constructive, sound, active, 
creative, visionary, impressive and inspir ational. We heard verbs like commend, congratulate, 
salute, and appreciate. We heard about common interests, joint visions, common values, and even 
common food dishes. At one point I was wondering whether we should consider changing the name 
of the World T rade Organization into Friends of Singapore.  
5.22.  On an occasion like this, a certain amount of diplomatic courtesy will of course have to be 
counted in. But listening more carefully to the statements, they went far beyond diplomatic niceties. 
Delegates were sp ecific about what they appreciated, commended, and saluted. The stable and 
prudent macroeconomic policies. The creativity of incentives to stimulate growth and transformation. 
The consistent openness to the outside world. The constructive and active engage ment in the 
defence and strengthening of the rules -based multilateral trading system.  
5.23.  The extraordinary number of questions posed is also evidence of Member's sincere interest in 
what is going on in Singapore. It should also be noted that a significant sha re of the questions posed WT/TPR/W/ 195 • Singapore  
 
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  were enquiries about information. Members are obviously eager to learn from Singapore's example 
and success by asking questions related to just about everything, from general economic policies to 
details in programs for digitaliza tion of micro, small and medium -sized enterprises, just to mention 
one example.  
5.24.  Let me quickly add that Members also have posed a good number of questions of a more 
critical nature. Without attempting to go through the whole list, please permit me to make a couple 
of observations.  
5.25.  One cluster of questions relate to the many incentives and support schemes, some of them 
related to the pandemic response and some being part of the Economic Transformation Agenda. 
Behind the many questions about the details of th e various programs and measures, I sense that 
there may also be a hint of some concern among close partners about potential distortive effects in 
local and regional markets.  
5.26.  Another set of questions relate to Singapore's ambitious pursuit of new trade agre ements, 
and in particular the innovative Digital Economy Agreements and the Green Economy Agreements. 
Again, one may sense a certain undertone about potential negative effects for established 
agreements and trade relations.  
5.27.  Finally, I have noted some recur ring issues that continue to attract attention from Members, 
notably the unbound tariffs, the Government -linked Corporations and remaining FDI restrictions, 
and I took good note of the substantive response from Permanent Secretary Lee on these issues 
today . 
5.28.  Looking at the bigger picture, the review was carried out in a constructive spirit and positive 
atmosphere. Members engaged actively with pointed questions and relevant comments, and the 
delegation of Singapore has responded with the same engagement and respect, and provided 
substantial answers to the many questions raised. I also took note of the wise words of Permanent 
Secretary Lee today about the fundamental importance of inclusiveness. Let me in this context recall 
that sustainability rests on three pillars – economic sustainability, environmental sustainability and 
social sustainability.  
5.29.  As I know that Ambassador Tan is an eager golfer, permit me to paraphrase the legendary 
Irish golfer Rory McIlroy who is credited with having said something to the e ffect that "With great 
success comes great responsibilities". Given Singapore's key position and role in regional and global 
value chains, it should be expected that Singapore's policies and practices related to trade and 
investment will continue to be of great interest to other Members.  
5.30.  I would like to thank the delegation of Singapore, headed by Permanent Secretary Lee Chuan 
Teck, for their open and constructive attitude towards this exercise. I trust that the Government of 
Singapore will make use of this  review as an encouragement and inspiration to continue its stable 
path, where an open and predictable trade policy anchored in the rules -based multilateral trading 
system is an indispensable element.  
5.31.  Let me conclude by congratulating the delegation of Sin gapore with a successful Trade Policy 
Review. Thank you.  
EUROPEAN  UNION  
5.32.  On behalf of the European Union, I would first like to thank Singapore for the comprehensive 
overview presented on Wednesday on the main trade and economic developments since the last 
Trade Policy Review, and also for the statement this morning.  
5.33.  The European Union welcomes the insights this Review has provided into Singapore’s ongoing 
and planned policies and initiatives to handle post -pandemic recovery and to prepare the economy 
for th e challenges of the 21st century.  
5.34.  The European Union appreciates the good cooperation with Singapore under the Free Trade 
Agreement between the EU and Singapore, which is the first trade agreement between the EU and 
an ASEAN member State. In addition to providing increased market access an d addressing non -tariff WT/TPR/W/ 195 • Singapore  
 
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  barriers, the EU -Singapore FTA has provisions to address 21st century trade challenges and contains 
strong rules on trade and sustainable development, including the protection labor rights and the 
environment.  
5.35.  This Trade Policy Revi ew clearly demonstrated that Singapore’s trade policy is widely 
considered as very open and appreciated, and that Singapore is a valued partner of many WTO 
Members. As Singapore now looks at ways of increasing its network of trade agreements and finding 
ways of cooperating on areas such as digital and green finance, the European Union is happy to 
work with Singapore on those endeavors.  
5.36.  Finally, on behalf of the EU, I would like to thank Singapore for a very constructive and open 
participation in this exerci se. 
UNITED  STATES  
5.37.  Thank you Chair and thank you to all other members of Singapore’s delegation. We enjoyed 
yesterday’s discussion and reiterate our strong partnership with Singapore and the significant 
contributions Singapore has made to the global trading  system.  
5.38.  We again highlight Singapore's importance as a US trading partner and commend Singapore's 
leadership on trade, particularly during the global pandemic. It is clear, Singapore understands the 
importance of trade for resolving this century’s most pr essing challenges, including climate change  
5.39.  We warmly welcome Singapore’s announcement on Wednesday which adds important 
momentum to the Joint Statement Initiative on domestic regulation of services and look forward to 
working closely with Singapore to achieve a successful outcome for MC12.  We agai n hope that 
Singapore’s commitment will encourage others to consider joining this initiative.  
5.40.  We are confident that we can rely on Singapore’s steadfast engagement and commitment to 
Member -driven work here at the WTO to advance other common initiatives su ch as improving 
transparency through improved compliance with notification obligations, maximizing the trade 
facilitating benefits of the TFA, and supporting relevant discussions in the SPS Committee on new 
and emerging issues.  
5.41.  We look forward to further cooperation with Singapore on all fronts – bilaterally, regionally, 
and here at the WTO and congratulations on a successful TPR.  
  WT/TPR/W/ 195 • Singapore  
 
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  6  CONCLUDING REMARKS BY THE CHAIRPERSON  
6.1.  The eighth Trade Policy Review of Singapore has offered us a good opportunity to deepe n our 
understanding of recent developments in its trade, economic, and investment policies, and the 
challenges it faces. This has been achieved despite the constraints posed by the COVID ‑19 pandemic 
on the preparation of the reports and on our deliberation s. Our discussions have clearly benefited 
from the participation of the Singaporean delegation, led by Mr. Lee Chuan Teck, Permanent 
Secretary (Development) at the Ministry of Trade and Industry.  
6.2.  I would like to thank Ambassador Tan Hung Seng, Permanent Re presentative of Singapore to 
the WTO, and his team for their work and cooperation in the preparation of this Review. My 
appreciation also goes to our discussant, Ambassador Dagfinn Sørli of Norway, for his insightful 
remarks, and to the delegations that to ok the floor for their valuable contributions.  
6.3.  The large number of interventions made at this meeting (45) is a clear illustration of the strong 
interest in, and importance attached by Members to Singapore's trade and investment policies and 
practices and to the active role it plays in the WTO.  
6.4.  Members commended Singapore on its positive economic performance during the years prior 
to the COVID ‑19 outbreak, which was underpinned by sound macroeconomic policies and a business -
friendly environment. They apprec iated the measures and financial resources put in place by the 
Government, amounting to some 20% of GDP, to overcome the adverse effects of the pandemic and 
set the economy on a strong recovery path in 2021. In its statement, Singapore announced that it 
had recently upgraded its GDP growth forecast, which is now set at "6 to 7%" for 2021, but that 
economic recovery would be uneven across -sectors.  
6.5.  Singapore was also lauded on its commitment to maintaining an open market, promoting 
competition, and supporting  businesses and workers throughout the difficult times of the pandemic.  
6.6.  Some Members encouraged Singapore to lift the few remaining foreign investment restrictions 
in certain services sectors.  
6.7.  Members noted Singapore's efforts to address structural constra ints and long -term challenges, 
such as limited natural resources and an ageing population, and welcomed its economic 
transformation agenda aimed at building a value -creating economy that is open and connected to 
the world, and based on innovation and digit alization. They encouraged Singapore to continue these 
reform efforts. Singapore's various initiatives to transform the country into a green economy and 
address climate change were also appreciated. Of particular interest to Members in this regard were 
Singapore's carbon tax regime and the energy efficiency measures.  
6.8.  Members praised Singapore's steadfast commitment to the rules -based multilateral trading 
system and to maintaining open supply chains throughout the pandemic. Its contributions to ongoing 
negot iations and WTO reform efforts were also praised.  
6.9.  Singapore's role in co -convening the Joint Statement Initiative on E -Commerce was 
acknowledged, as well as its participation in the joint initiatives on investment facilitation and on 
micro, small and mediu m-sized enterprises. In this context, Members welcomed the announcement 
made by Singapore that it would shortly join the Joint Statement Initiative on Services Domestic 
Regulation. Singapore's participation in the Multi -Party Interim Appeal Arbitration Arr angement, and 
in the structured discussions on trade and environmental sustainability were also appreciated.  
6.10.  Members took note of Singapore's active economic integration agenda as witnessed by its 
network of 27 free trade agreements, which includes agreeme nts with its ASEAN counterparts and 
other economic partners in various regional schemes. Members showed particular interest in having 
more information on the Digital Economy Agreements and the Green Economy Agreements recently 
negotiated by Singapore with some FTA partners.  
6.11.  Singapore indicated that it saw both the digital economy and the green economy as the next 
frontier of post -COVID‑19 economic recovery and growth, and that it was ready to work with 
like-minded partners in these areas.  WT/TPR/W/ 195 • Singapore  
 
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  6.12.  Referring to speci fic trade policies, Members appreciated Singapore's full implementation of 
the Trade Facilitation Agreement upon its entry into force in 2017, and its strong record in customs 
digitalization and other initiatives to facilitate trade. Members also acknowled ged that Singapore's 
MFN tariffs are all zero -rated, except for two product categories. However, they noted that around 
30% of the tariff lines remain unbound, and that bound rates range from 0% to 10%.  
6.13.  Some Members encouraged Singapore to increase the lev el of tariff bindings and reduce the 
gap between bound and applied rates. There were also questions regarding excise taxes on wines 
and spirits, import licensing formalities, standards and technical regulations (including the adoption 
of international stan dards) and SPS measures (such as labelling and marketing requirements for 
food and other products).  
6.14.  An area of considerable interest, as indicated in Member's written questions, referred to 
Singapore's numerous tax and non -tax incentive programmes, includi ng programmes to support 
overseas market expansion, granted to locally based companies, in particular SMEs. Members sought 
clarification on several of these programmes and enquired about their status under the Agreement 
on Subsidies and Countervailing Meas ures. Questions were also raised regarding the participation of 
the government -linked companies in the economy; some Members highlighted the importance of 
ensuring transparency in their management, and open and fair competition conditions in their 
operatio n vis-à-vis private companies.  
6.15.  From their written questions, it is clear that Members were particularly interested in the 
changes introduced by Singapore to its intellectual property regime, including the amendment or 
promulgation of new laws on patents, i ndustrial designs, geographical indications, border 
enforcement and dispute resolution, and the status of a draft bill on copyrights. Members also sought 
information on Singapore's initiatives to promote commercialization of IP.  
6.16.  Noting that manufacturing r emains a key pillar of the Singaporean economy, Members were 
keen to know more about the 23 industrial transformation maps and the seven industrial strategies 
adopted by the Council on the Future Economy in 2017, notably regarding re -skilling and 
digitaliz ation schemes.  
6.17.  Members acknowledged the fundamental role played by services in the Singaporean economy, 
which contributes 70% to GDP. They also acknowledged the country's position as an international 
trade, finance, and transportation hub, and commended Si ngapore on the openness of these sectors.  
6.18.  Regarding financial services, Members appreciated the reforms undertaken by Singapore to 
simplify the banks' licensing regime, establish a digital financial ecosystem for fintech and 
e-payments, and develop green a nd sustainable finance. On telecommunications, Members 
expressed interest in the 5G developments, where Singapore is seen as a pioneer.  
6.19.  Members were interested in the way Singapore addresses gender issues in its economic 
transformation agenda, in particula r measures to support women workers and business owners.  
6.20.  Some Members enquired about future reforms of Singapore's policy regarding foreign 
workers, including with respect to the movement of intra -corporate transferees.  
6.21.  The above are some of the key issues that emerged from our discussion. I hope that the 
Singaporean delegation will consider and further reflect on these issues and on the many 
constructive comments that it has received during this Review. Singapore received 525 written 
questions from 2 6 Members, and has already responded to most of them. Members look forward to 
receiving written answers to any outstanding or follow -up questions within a month, at which point 
the Review will be successfully concluded.  
__________