WT/TPR/M/343  
7 October  2016 
(16-5357) Page: 1/47 
Trade Policy Review Body  
26 and 28 July 2016   
 
  TRADE POLICY REVIEW  
SINGAPORE  
MINUTES OF THE MEETING  
Chairperson: Ms Irene Young (Hong Kong, China)  
CONTENTS  
 
1  INTRODUCTORY REMARKS  BY THE CHAIRPERSON  ................................ .......................  2 
2  OPENING STATEMENT BY  THE REPRESENTATIVE O F SINGAPORE  ................................  3 
3  STATEMENT BY THE DIS CUSSANT  ................................ ................................ ................  6 
4  STATEMENTS BY  MEMBERS  ................................ ................................ ........................  10 
5  REPLIES BY THE REPRE SENTATIVE OF SINGAPORE  AND ADDITIONAL 
COMMENTS  ................................ ................................ ................................ .....................  40 
6  CONCLUDING REMARKS B Y THE CHAIRPERSON  ................................ .........................  46 
 
 
Note: Advance written questions and additional questions by WTO Members, and the replies 
provided by Singapore  are reproduced in document WT/TPR/M/ 343/Add.1  and will be available 
online at http://www.w to.org/english/tratop_e/tpr_e/tp_rep_e.htm.  WT/TPR/M/343 • Singapore  
 
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  1  INTRODUCTORY REMARKS  BY THE CHAIRPERSON  
1.1.  The seventh Trade Policy Review of Singapore was held on 26 and 28 July 2016. The 
Chairperson, Ms. Irene Young (Hong Kong, China), welcomed the delegation of Singapore hea ded 
by Mr. Loh Khum Yean, Permanent Secretary from the Ministry of Trade and Industry; the 
delegation from Singapore; and the discussant, H.E. Ambassador  Fernando De Mateo (Mexico ).  
1.2.  The Chairperson recalled the purpose of the Trade Policy Reviews and the main elements of 
the procedures for the meeting. The report by Singapore  was co ntained in document 
WT/TPR/G/343  and that of the  WTO Secretariat in WT/TPR/S/343 . 
1.3.  Questions by the following delegations had been submitted in writing before the deadline and 
had been transmitted to the delegation of Singapore: Malaysia; Switzerland; Mexico; Australia; 
Chinese Taipei; Canada; Hong Kong, China; China; United States; the Sultanate of Oman; Brazil; 
and Japan. The following delegations submitted written questions aft er the deadline: New Zealand ; 
Republic of Korea; Indonesia; Chile; Peru; India; Thailand; South Africa; European Union; 
Ecuador; and Colombia . These questions had also been transmitted to the delegation of Singapore . 
1.4.  At the last TPR meeting in 2012, Member s had praised the strong economic fundamentals, 
which had allowed Singapore to rebound quickly from the global financial crisis. Since the l ast TPR, 
Singapore 's economy had  continued to perform well,  although the pace of growth had  been more 
moderate than in the past. Members had also commended Singapore for its openness to trade and 
investment, and for creating an exemplary environme nt for doing business. There had  been no 
policy change with regard to liberalizing the few remaining investment restrictions,  as some 
Members had proposed for consideration.  
1.5.  Members had noted at the last TPR that Singapore had been  facing new challenges, 
particularly with regards to lagging productivity growth and competitiveness. In response, for 
sever al years now, the Governm ent had  focused on restructuring the economy from labour 
intensive growth towards innovation -led growth and higher produc tivity. An incentive package had  
been put in place to encourage skill -enhancing investments in the workforce a nd labour -saving 
technolo gies. Questions had been  raised then and now again regarding the nature of some of 
these incentives, and the Chairperson thought  Members might benefit if Singapore could shed 
more light on its fiscal privileges and other incentive schemes.  
1.6.  Overall, it seem ed that Singapore 's trade policies had  been quite stable, with few major 
changes over the last four years. Nonetheless, in relation to the tariff regime, Members had 
continued to enquire about the prospect of increasing the binding coverage and reducing th e gap 
between bound and applied rates, in or der to enhance predictability. Questions had  also been 
raised regarding other existing policies such as rice stockpiling and vehicle quotas.  
1.7.  Another recurrent issue of interest was the role played by the S tate, t he government -linked 
companies, statutory boards and their companies in the economy, as well as the different forms of 
export assistance administered by the International Enterprise Singapore, in particular through its 
Global Company Partnership Programme and Market Readiness Assistance programme.  
1.8.  There were of course new policy  initiatives and developments. For example, in the area of 
intellectual property rights, there were new website blocking provisions to tackle copyright 
infringement; a new patent pos itive grant system had  also been introduced; a nd GI protection 
enhanced. There were also notable developments relating to legal services and preferent ial trade 
agreements, which had  attracted Members attention.  
1.9.  Apart from th e specific measures, there seeme d to be a general interest in the institutional 
setup itself, such as the work of the Non -Trade Measures (NTM) Unit and the Trade Academy 
within the  Ministry of Trade and Industry. Members were also interested in the priorities of the 
newly -established Com mittee on the Future Economy, which was due to make recommendations 
by the end of this year on how to transform the Singaporean economy so that it  remain ed 
competitive and help ed pick future growth industries.   WT/TPR/M/343 • Singapore  
 
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  2  OPENING STATEMENT BY  THE REPRESENTATIVE O F SINGAPORE (MR. LOH KHUM 
YEAN ) 
2.1.  Thank you, Madam Chair, for the kind introduction.  
2.2.  I would also like to express our appreciation to Ambassador Fernando De Mateo for agreeing 
to be the Discussant for our TPR, and also our thanks to the WTO Secretariat for the hard work in 
putting tog ether their report and for organiz ing the proceedings this week.  
2.3.  The WTO 's rules -based multilateral trading system remains the cornerstone of Singapore 's 
trade policy. The fundamental principles of our trade and economic policies h ave not changed since 
our last TPR in 2012. We remain committed to our long -standing, consistent approach of 
advocating open markets, competition and innovation, and deeper economic integration with the 
rest of the world. We view the TPR as an invaluable opportunity and exercise in promoting greater 
transparency and understanding of each Member 's regime, and we appreciate the opportunity to 
share our trade p olicies and practices with WTO M embers. Efforts to promote greater transparency 
are even more importa nt in today 's context of emerging protectionist pressures in several 
economies. Singapore will continue to support efforts that promote transparency and ultimately a  
robust global trading system.  
2.4.  Singapore 's trade regime and policies have been extensively  covered in the comprehensive 
report by the Secretar iat and in our G overnment report. I would like to therefore focus my 
remarks today on providing Members with the context within which Singapore 's trade policies and 
practices are situated, as well as some  of the measures we have taken in restructuring our 
economy since our last TPR.  
Singapore, an island city -state  
2.5.  First, Singapore is a small island city -state. Our physical land area is only about 720 square 
kilometres, not much larg er than Lake Geneva. Wit hin these  720 square kilometres, we house over 
5 million people. This has several implications  for us . It means that we have no domestic 
hinterland, and no other option but to maximiz e the returns on the limited land  that we have . Our 
relatively small dome stic market also means that we cannot be insular. Our integration into the 
global economy is a necessity to create good jobs for our people, and to remain economically 
vibrant.  
2.6.  Second,  Singapore has no natural resources and virtually no primary agricultur e and fisheries 
industry. Over 90% of our food is imported. The free and efficient flow of goods across borders is 
therefore of utmost importance to us. For example, o ur approach to food security is premised not 
on self -sufficiency, but on access to an int ernational and diverse selection of foodstuff while 
ensuring that public h ealth and safety are preserved.  
2.7.  Third,  Singapore is at the same time a young and an "old" country. As a nation, we have just 
turned 50 last year. However, our population is rapidly a geing. Our total fertility rate stands at a 
low 1.25. This means that our growth cannot be labour input -driven, but rests on a combination of 
productivity, innovation and trade -led growth.  
2.8.  Simply put, trade is and has always been Singapore 's lifeblood. Ou r total trade in goods and 
services is nearly four times the size of our GDP. Trade accounts for about 60% of our GDP  and 
half of total employment.  
Restructuring for productivity and innovation -led growth  
2.9.  Being a small open economy, our economic performan ce is greatly affected by the ebb and 
flow of the global economy. The overall sluggishness in the global economy in recent years has 
been challenging for Singapore. Last year, our economy grew at a moderate pace of 2%, 
compared to an annual average growth of 3.9% between 2012 and 2014. Our GDP forecast this 
year is for grow th of between 1 % to 3%.  
2.10.   Within today 's globaliz ed economy where we are all part of and connected to global value 
chains, Singapore has maintained an open trade regime. We do not shield o ur companies from WT/TPR/M/343 • Singapore  
 
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  external competition as  we believe that  their long -term survival and ability to thrive are anchored 
on their ability to remain competitive and to access global  markets.  
2.11.   Since our last TPR, we have worked to restructure our economy and ke ep up with the 
changing global economic environment. We have identified productivity -led and innovation -led 
growth as the most sustainable way for us to continue our development , especially in view of our 
ageing soc iety and our manpower constraints.  
2.12.   Worki ng together with partners from the private and people 's sectors, the G overnment is 
playing a key role to facilitate this transition to boost productivity. Some measures we have put in 
place to help our indust ries and people include  the following :  
 We launc hed a n "Industry Transformation Programme " earlier this year with the aim to 
promote greater technology adoption and innovation within and across our industries. To 
support this shift, we will be investing heavily to upgrade our research, innovation and 
enterprise ecosystem; we will be focus ing on domains of particular relevance to us such as 
Advanced Manufacturing and Engineering, Health and Biomedical Sciences, Urban Solutions 
and Sustainability, as well as Services and the Digital Economy.  
 We also launch ed a national initiative called "SkillsFuture " in November 2014. And this is 
meant  to spur individual efforts to continually upgrade and acquire relevant skills and 
knowledge, as well as to nurture a culture and  mindset of lifelong learning.  
Maintaining a n open and competitive economy  
2.13.   At the same time, we have continued efforts to maintain a domestic regime that is 
conducive to business act ivity, promotes market liberaliz ation and ensures fair competition. 
Services plays a n important  role in the Singapore economy, accounting for nearly 70% of  our GDP 
in 2015. Singapore seeks to ensur e transparency and non -discrimination in a market that 
welcomes foreign investments both in traditional sectors such as finance and transport, but also in 
newer sectors like ene rgy and urban solutions. We have updated our intellectual property policies 
to ensure that they are effective in supporting businesses and in spurring innovation. We have also 
worked to keep business start -up costs low, and invested in the development of r esearch and 
design c apabilities.  
2.14.   In the area of Trade Facilitation, we are currently  working to further improve our national 
trade  window, TradeNet, to make it even more business friendly for traders and enterprises . We 
are hoping to build a new integrate d National Trade Platform that will allow for seamless electronic 
data sharing among government agencies and even more groups of business stakeho lders such as 
trade financiers.  
2.15.   To address the challenge of Non -Tariff Measures, or NTMs, we have recently established a 
dedicated NTM Unit within the Ministry of Trade and Industry in Oct ober 2014. This is as an 
inter-agency to help identify and address NTMs faced by companies based in Singapore and to 
ensure that our trade policies are consistent with  our interna tional obligations.  
2.16.   While our foremost trade priority remains the WTO 's multilateral trade system, we have also 
actively sought deeper economic integration with partner markets. These have included regional 
initiatives such as the ASEAN Economic Community which was established last year, as well as 
regional and bilateral trade agreements such as the Trans -Pacific Partnership Agreement, and  
bilateral FTAs such as the one that we recently concluded with  Turkey. Our pursuit of Regional 
Trade Agreements and oth er economic cooperation activities are based on our firm belief that 
these complement the objectives of the multilateral trading system and can serve as bu ilding 
blocks for one another.  
2.17.   Early this year , we launched the "Committee on the Future Economy ", or CFE . We are 
seeking to identify future growth opportunities and strategies in order to increase the resilience of 
our economy as we continue on the transition towards productivity and innovation -led growth. The 
work for this committee is ongoing and will  focus on five key areas, namely future growth 
industries and markets; corporate capabilities and innovation; jobs and skills; urban development 
and infrastructure; and global connectivity. The CFE will draw from a wide range of expertise 
across the public  and private sectors  and hopes to complete its work by the end of 2016 . WT/TPR/M/343 • Singapore  
 
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  WTO – the cornerstone  
2.18.   In the face of an increasingly challenging global environment, Singapore remains  committed 
to staying the course in its economic restructuring expanding our inter national  economic space to 
create opportunities and moderniz ing our regulatory regime and facilitating trade through our 
domestic policies.  
2.19.   We deeply appreciate and thank all Members for your questions and your active 
participation, which has provided hel pful perspectives to our trade and economic policies. We 
acknowledge that there will always  be areas where we can further improve on, and will carefully 
consider all the feedback that has been received.  
2.20.   In summary, just to say tha t as a small island city state dependent on trade, Singapore is 
an advocate for the importance of the WTO. We support the multilateral trading system as the 
foundation for global economic growth and development. We look forward to continue working 
alongside other Members in the re gular bodies and in negotiations towards ensuring  the WTO 's 
continued strength and relevance. Thank you.  WT/TPR/M/343 • Singapore  
 
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  3  STATEMENT BY THE DIS CUSSANT  
3.1.  Madam Chairperson Irene B.  K. Young, Permanent Secretary Mr  Loh Khum Yean, 
Ambassador  Yee Woan Tan, colleagues. It is an h onour for me to be here today as the Discussant 
in Singapore's Trade Policy Review.  
General  
3.2.  I would like to begin my statement by recalling the words of Mr  Lee Kuan Yew, the architect 
of Singapore's great transformation, who once said that " if you want to reach your goals and 
dreams, you cannot do it without discipline ". 
3.3.  It is that spirit of discipline that has enabled Singapore to achieve its impressive 
average  annual rate of economic growth of 9.5% since independence in 1965. It is no coincidence 
that num erous books have been written about Singapore, with titles such as the Singapore model, 
the Singapore miracle, the transformation of Singapore into one of the Asian dragons, and so on.  
3.4.  Singapore is currently recording sound economic variables, such as an i nflation rate of less 
than 2%, a fiscal deficit of 0.5% of GDP, a current account surplus of 20% of GDP, a per capita 
GDP which, in terms of purchasing power, ranks fifth in the world, and an unemployment rate of 
less than 2%. Although it has a public debt  amounting to 105% of GDP, it is essentially a question 
of bonds issued to assist the Central Provident Fund, which administers pension fund contributions. 
The Government of Singapore has not gone into debt to finance its public spending since 
the 1980s an d has no external debt.  
3.5.  Thus, it is not surprising that the country should rank first in the world in the World Bank's 
ease of doing business index; in second place for competitiveness; in first place for social welfare 
and human development; in third plac e among the world's financial centres; in sixth place in terms 
of the size of its merchant fleet; and in nineteenth place for the development of the information, 
computer and telecommunications industry. Moreover, it has one of the busiest seaports in the 
world, and Changi is one of the world's foremost airports in terms of the air traffic it receives.  
3.6.  However, there are some statistics that are less favourable. For example, family income 
distribution is one of the worst in Asia, with a Gini coefficient tha t places Singapore 32nd in the 
world. The population is rapidly aging, with 34 as the median age, that is to say that half the 
population is more than 34 years old, and an old age dependency ratio of 16% of the population. 
The rate of population growth is well below the replacement rate. Moreover, the participation of 
women in the labour force is relatively very low.  
3.7.  In recent years, the pace of economic growth has slowed, largely as a result of the 
weak growth of world trade, and especially trade in the As ian region. During the previous review 
period, between 2007 and 2011, in spite of all the repercussions of the international 
financial  crisis, Singapore's GDP grew on average by 5.9%, whereas in the current review period, 
from 2011 to 2015, it grew by 3.6% . This is all the more concerning insofar as the forecasts 
indicate that for this year the economy will grow at an even slower pace, although it should 
recover somewhat in 2017.  
3.8.  To confront these structural challenges, on 1  October  2015, the Government of Singapore set 
up the Committee on the Future Economy to engage with five crucial issues: (1)  the identification 
of future growth industries and markets; (2) corporate capabilities and innovation; (3) jobs and 
skills with a view to restructuring the labour market; (4)  urban development and infrastructure; 
and (5) connectivity and the digital economy.  
3.9.  It is well known that Singapore is an economy open to international trade. Today the trade to 
GDP ratio is almost 400%. While this openness has enabled it to de velop very rapidly, at levels 
unthinkable when the Republic of Singapore was established in 1965, it has also made the country 
vulnerable to global and especially regional economic slowdowns, since about 80% of its exports 
go to the Asia and Oceania region . This became clear in 2015 when Chinese and ASEAN imports 
fell by 14% and 12%, respectively, as compared with the previous year, with a corresponding 
impact on Singapore's export sector.  WT/TPR/M/343 • Singapore  
 
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  3.10.   Its policy of agreements with other regions of the world enables it to diversify the risks, but 
only up to a certain point. Coming from a country with 44 free trade agreements, 80% of whose 
exports depend on a single market, I can speak with some authority on this subject.  
3.11.   Since 2011, the inflation rate has fallen steadily , from 5.3% to a negative rate of -0.5% 
in 2015. Although in the latter year the outcome could be attributed to the fall in the prices of fuel 
and housing and vehicle licence fees, the ghost of deflation is present and could have very 
worrying effects if c ombined with some external shock. It is possible that the monetary measures 
recently implemented by Singapore will produce results in 2017, while it is forecast that in 2016 
there will be hardly any variation in prices; however, the risk will still be pres ent if the monetary 
measures are not accompanied by appropriate fiscal measures.  
Trade policy  
3.12.   There is nothing new in saying that Singapore is one of the clearest examples of the 
successful application of a policy of trade liberalization and investment, wh ich has placed it among 
the world's 10 leading trading countries in recent years.  
3.13.   Across its entire tariff, Singapore imposes duties on only 6 products, all related with 
alcoholic beverages, although it has opened its markets to these beverages under some free trade 
agreements.  
3.14.   From 2011 to 2014, both exports and imports remained practically unchanged. However, 
in 2015, exports declined by 14.5%, with domestic exports having the greatest impact, falling 
by 20%. In the same year, imports fell by 19%. All of this in terms of value, whereas in terms of 
volume there was hardly any change.  
3.15.   It is important to recognize the ambitious trade facilitation policy that Singapore began 
implementing several years ago now, and especially the establishment of a risk -based s ystem 
called TradeFIRST, by means of which the Customs Department applies trade facilitation measures 
in conformity with five business categories ranging from basic to premium. Undoubtedly, these and 
other advances enabled Singapore to become one of the fi rst Members to ratify the 
Trade  Facilitation Agreement and notify all its measures under Category A.  
3.16.   Where tariff matters are concerned, Singapore continues to apply a zero duty rate on all 
products apart from 6 tariff lines relating to beer and other alco holic beverages. It should be noted 
that these tariffs were eliminated in its most recent trade agreements. We hope that in the next 
review we shall be able to welcome the MFN elimination of the tariffs in question, especially for 
Corona beer and tequila.  
3.17.   With respect to binding levels, we are aware of Singapore's readiness to bind the whole of 
its tariff within the framework of broader negotiations, but, on the other hand, it is also true that 
the fact that 30% of its lines do not have a maximum ceiling co uld generate some degree 
of uncertainty.  
3.18.   Its import licensing and prohibition and import regimes have not changed since its 
last review, although it maintains a permit system for all its imports, under which, in 99% of 
cases, a decision is provided within a period of 10 minutes.  
3.19.   Singapore does not apply export taxes or levies; however, in conformity with the 
1995 Regulation of Imports and Exports Act, an export permit is required for almost all products.  
3.20.   With regard to intellectual property, there have been  important changes in the legislation on 
patents, as well as in that on plant varieties and copyright. Singapore is to be commended for its 
efforts to protect intellectual property, which will be further strengthened once the new 2014 law 
on geographical i ndications enters into force.  
3.21.   During the review period there were no major changes in the technical barriers to trade, 
customs valuation, import licensing and prohibition, anti -dumping, government procurement or 
competition regimes.  WT/TPR/M/343 • Singapore  
 
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  3.22.   Singapore is an example  of the efficient use of incentives, in both manufacturing and 
services, since they are not only intended to promote competitiveness, value added, innovation 
and research and development but are also subject to regular review and, in the case of services, 
include sunset clauses, by means of which it is possible to determine whether they are still 
relevant. However, I agree with the Secretariat that there should be greater transparency with 
regard to budgetary expenditures and the revenue foregone as a resul t of the non -payment of the 
corresponding tax.  
3.23.   Although the investment regime remains almost unchanged, foreign direct investment flows 
have increased considerably, rising from US$48  billion in 2011 to US$65  billion in 2015. However, 
there are still some r estrictions, mainly in legal services, broadcasting services and the 
retail banking system.  
3.24.   Services accounted for around three quarters of Singapore's economy and made a similar 
contribution to employment.  
3.25.   As already mentioned, Singapore has become the wo rld's third most important 
financial  centre, behind only London and New York. According to the IMF, it is a well -regulated and 
supervised financial centre, capable of responding to possible domestic and global risks.  
3.26.   However, in the retail banking sector t here are still restrictions on the number of branches 
that foreign banks can operate and on access to ATMs managed by domestic banks. Moreover, 
although there are no limits on the foreign ownership of domestic banks, Singapore has indicated 
that it will no t allow a foreign takeover of the three main local institutions, which together account 
for about 35% of total banking sector assets.  
3.27.   On the other hand, Singapore has approved a draft amendment to the Banking Act to 
enhance prudential safeguards and reflec t new Basel III standards, strengthen the 
corporate  governance of banks, and reinforce their risk management controls.  
3.28.   In the telecommunications sector, despite the extraordinary mobile telephony services 
penetration rate of 158%, the fact that 88% of hous eholds have at least one computer and 
nationwide broadband fibre coverage, according to the ITU, in 2015 Singapore ranked 19th in the 
ICT development index, eight places lower than in 2010.  
3.29.   With respect to maritime transport, the port of Singapore has beco me one of the busiest in 
the world and ranks second in the world for container traffic. In air transport, Changi has become 
one of Asia's principal airports. In 2015 alone, it handled 55.4  million passengers and it is 
expected that by 2020, when Terminal 5  comes into operation, passenger handling capacity will 
have increased to 140  million per year. In 2015, Singapore had a network of bilateral air services 
agreements with 130 countries, that is, 37 more than in 2011, over 60 of which were 
open skies agreem ents. 
Progress with respect to the TPR of 2012  
3.30.   I will now turn to the comments made by Members during Singapore's last TPR in 2012 and 
the action it has taken.  
3.31.   In 2012, some Members asked Singapore to reconsider certain of its sanitary and 
phytosanitary me asures in the light of risk -based management techniques. During the review 
period, Singapore abolished the "Six years of Bovine Spongiform Encephalopathy (BSE) freedom" 
certificate, as a result of which since 2012 its market has gradually opened up. It has  also 
incorporated changes in the Food Regulations in order to establish mandatory nutrition labelling for 
retail packs of edible fats and oils, among other steps to improve consumer protection.  
3.32.   In connection with foreign direct investment, Members asked S ingapore to consider the 
possibility of abolishing the restrictions on foreign participation in the broadcasting and media, 
legal services and retail banking services sectors. Singapore is continuing to apply a 
maximum  limit of 49% on foreign participation  in the port operator PSA Corporation and in 
broadcasting services. For its part, the practice of law continues to be subject to certain 
restrictions applicable to lawyers with a foreign qualification and to foreign law firms.  WT/TPR/M/343 • Singapore  
 
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  3.33.   In the field of economic comp etition, Members encouraged Singapore to broaden the scope 
of its legislation to include areas still exempt, for example the activities and agreements of the 
Government and statutory bodies and entities acting on their behalf. The Competition Act still doe s 
not apply to the activities, agreements and practices of the Government or to the boards and 
entities that act in its name. Nor does it apply to certain sectors such as energy, 
telecommunications and postal services, media, and airport services.  
3.34.   Moreover , under Section 34 of the Act, Singapore may exempt certain categories of 
agreements from the provisions relating to the prohibition of anticompetitive agreements, 
decisions and practices. For example, it has extended until the end of 2020 the exemption by  
category for liner shipping agreements.  
3.35.   Although Singapore has no State trading enterprises, Temasek, whose sole shareholder is 
the Ministry of Finance, manages Singapore's investments in a series of related companies in 
different sectors and its portfoli o is equivalent to two thirds of the country's GDP. It would be 
useful to know which companies are linked with Temasek and what criteria it takes into 
consideration when investing in them.  
3.36.   In services, Singapore was asked to reconsider the price controls i t applies to 
telecommunications services. However, Singapore continues to apply price regulation to operators 
deemed to be dominant in the telecommunications and postal sectors, which are required to seek 
the approval of the Telecommunications Development Authority prior to offering, modifying or 
withdrawing services  
3.37.   There can be no doubt that Singapore has everything it takes to continue serving as a 
worldwide model of an open, transparent and efficient economy, a status which has enabled it 
successfully t o penetrate global production chains.  
3.38.   Finally, Madam Chairperson, may I conclude as I began by quoting Mr  Lee Kuan Yew: 
"I have no regrets, I have spent my life, so much of it, building up this country. There's nothing 
more that I need to do. At the end of  the day, what have I got? A successful Singapore, what have 
I given up? My life ". 
3.39.   Congratulations to Singapore on all its achievements, and my best wishes for a 
successful  review.  WT/TPR/M/343 • Singapore  
 
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  4  STATEMENTS BY MEMBER S 
MALAYSIA  ON BEHALF  OF ASEAN  
4.1.  I am making this stateme nt on behalf of ASEAN.  
4.2.  In 1967, Singapore became one of the founding members of ASEAN and has always been at 
the forefront of bringing together the collective ASEAN Economy to where it is today.  
4.3.  Being the most progressive ASEAN member in terms of trade an d investment, the 2014 
ASEAN Trade figures show Singapore with the highest GDP per capita in ASEAN, as well as 
bringing in US$776 billion in total trade and US$72 billion of foreign direct investment. That is 
about 30 % of ASEAN 's total trade and 50 % of tot al FDI inflows into ASEAN. Singapore is therefore 
a significant driving force to ASEAN 's economic growth.  
4.4.  ASEAN notes that since Singapore 's last review, economic g rowth was at a modest pace of 
2% due to the continued low oil prices and other factors which  have affected significant sectors of 
the economy. Even so, Singapore has managed to reduce its unemployment rate and committed 
to improving and training local businesses and supporting SMEs and enterprise growth in order to 
maintain a stable business envi ronment.  
4.5.  Singapore has also strongly encouraged innovation and adoption of technology, especially by 
SMEs, to achieve innovation -led growth. In this, it is a staunch supporter and co -sponsor of the 
WTO member -led initiative on fostering the participation of micro, small, and medium enterprises 
(MSMEs) in the global trade.  
4.6.  As a strong advocate of the multilateral trading system, Singapore is ac tively promoting trade 
liberaliz ation and participating in most of the plurilateral negotiations in which the benef its are 
multilateralized. Singapore 's contribution to advance the WTO is very much appreciated. We 
congratulate Ambassador Tan Yee Woan for her dedication as Chair of the Committee on Trade 
and Development in Special Session in finding a balanced outcome f or developing countries. We 
also highly value the close working relationship that we all have with Ambassador Tan and her 
team here in Geneva.  
MALAYSIA  
4.7.  Malaysia applauds Singapore 's consistent economic growth during the review period between 
2012 and 2014.  At the same time, we note the impact of the challenging global economic 
environment on Singapore 's economic performance in 2015.  
4.8.  Since the last Trade Policy Review, Malaysia and Singapore have maintained a robust and 
vibrant bilateral trade and investment  relations. Singapore remains Malaysia 's second largest 
trading partner and the largest export destination during the review period. In 2015, trade 
between Malaysia and Singapore was valued at US$59.5 billion, a slight increase from the 
US$57.4  billion rec orded in 2014. Singapore was Malaysia 's largest export destination for 2015 
with total exports of US$27.8 billion. Companies from Singapore are among Malaysia 's main 
investors with over 3,000 manufacturing projects valued at US$17.2 billion.  
4.9.  Last week, Mal aysia and Singapore signed the MoU to build a High Speed Rail linking Kuala 
Lumpur and Singapore. It is seen as a game changer particularly in expediting movements of 
goods, services and people between countries. The project when completed is expected to t rim 
travel times to Kuala Lumpur and Singapore just 90 minutes, as compared with the four to five 
hours needed to travel by road. It would certainly improve the importance of seamless movement 
of people between the two countries. Currently, Kuala Lumpur an d Singapore are already served 
by 46 flights by several airlines.  
4.10.   Malaysia and Singapore are working closely with other ASEAN member States to further 
strengthen our shared objectives of creating a single market and production base, with free flow of 
goods , services and investment, and people under the ASEAN Economic Community. Singapore 
will be assuming the role of ASEAN Chair next year and we look forward to Singapore 's dynamic WT/TPR/M/343 • Singapore  
 
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  leadership to foster a stronger ASEAN as we embarked on a more comprehensive e xternal links 
with our trade partners starting with the regional comprehensive economic partnership.  
4.11.   At the multilateral level, Malaysia commends Singapore 's strong and active support for the 
multilateral trading system. Singapore has always been described  as an A student among the 
Members of the WTO particularly in meeting its bound obligations. We look forward to Singapore 
to continue to contribute towards a successful Post -Bali and Nairobi outcomes as we move towards 
MC11.  
4.12.   We commend Singapore for its co mmitment in assisting other developing Members and 
least developing Members to integrate into the multilateral trading system including providing 
technical assistance and capacity building initiatives. Under the Singapore -WTO Third Country 
Training Program me (TCTP), Singapore 's collaboration with the WTO Secretariat on various 
programmes for developing country Members in the Asia -Pacific region has certainly been 
beneficial to many.  
SWITZERLAND  
4.13.   This being my last intervention at a trade policy review as the  Permanent Representative of 
Switzerland to WTO, it gives me particular pleasure to address a delegation from Singapore – a 
true friend of the system whose active and constructive role in this organization Switzerland highly 
appreciates.  
4.14.   As knowledge -based , open and trade -oriented economies with strong services sectors, 
Singapore and Switzerland are both partners and competitors in many fields. Let me just mention 
pharmaceuticals, watches, financial and logistical services, R&D or the hosting of global and 
regional headquarters of international businesses where our two countries play important roles.  
4.15.   Singapore is Switzerland 's main trading partner in ASEAN – with the value of trade in 
services exceeding that of trade in goods three times. Singapore is also our first FDI destination in 
the ASEAN region, with a capital stock of about US$32 billion. This puts Swiss companies in 7th 
place as foreign investors in the Singaporean economy.   
4.16.   Given its partic ularly high trade -to-GDP ratio of 370% , Singapore, just as  Switzerland, has 
been highly exposed to sluggish, unstable world economic growth during the reporting period. All 
the more remarkably, GDP in Singapore has continued to expand at an average of 3.6% per 
annum.  
4.17.   Pursuing the Singapore success story will mean  meeting new challenges, such as in regard 
of demographics and the level of skills of the workforce. We welcome the  proactive way the 
Singaporean G overnment is embracing these challenges, including through the creation of a 
"Committee on the Future Economy " last year, and we will follow with interest the policy options 
coming out of the Committee and its sub -bodies .  
4.18.   For an open, highly competitive economy with low average applied duties for goods and a 
dense network of preferential trade agreements, Singap ore's WTO binding coverage of only 70% 
continues to look odd to us. We note Singapore 's willingness to increase its binding coverage in 
future WTO tariff negotiations, as expressed in the answer to one of our written questions, but 
would also like to encou rage autonomous steps in that direction, in the interest of a more 
predictable regulatory framework.  
4.19.   From the Secretariat 's very informative report, we note and commend the increased activity 
and impact of Singapore 's competition authorities. This includes  the first international cartel 
infringement decision in 2014, and the lead taken by Singapore in sharing expertise in competition 
matters with other ASEAN countries.  
4.20.   In preparing for today 's meeting, we found it helpful that Singapore 's replies to writte n 
questions were circulated several days ago, in line with the so -called "alternative timeframe " for 
TPRs. In the context of the current review of the Trade Policy Review Mechanism, and in order to 
enhance the value of this important monitoring tool, we wo uld like to encourage Members to 
consider broadening the use of this practice.  WT/TPR/M/343 • Singapore  
 
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  4.21.   Let me conclude by expressing my appreciation for the work done here in Geneva by 
Ambassador Tan Yee Woan and her very able team. Your contributions, Yee Woan, as Chair of the 
Trade and Development Committee in Special Session and in many other formal and informal 
bodies, as well as those of your delegation for the good of the Multilateral Trading System, are 
highly valued.  
MEXICO 
4.22.   Singapore is to be commended for its determinatio n to maintain an open trade regime, 
which applies tariffs to only 6 tariff lines, specifically, beer and alcoholic beverages. However, 
having only 70% of its lines bound could create a degree of uncertainty among economic 
operators, for which reason it wou ld be very important for Singapore to bind this openness.  
4.23.   Singapore offers an excellent model where trade facilitation is concerned. It was one of the 
first Members of the WTO to deposit its instrument of acceptance of the Trade Facilitation 
Agreement, not ifying all the provisions of the Agreement under its Category A commitments.  
4.24.   We acknowledge Singapore's efforts aimed at restructuring its economy to promote 
productivity and innovation -led growth based on 4 main pillars. We are convinced that this is the 
right way for it to confront its current challenges, such as the aging of its population and 
manpower shortages.  
4.25.   It is the services sector that makes the biggest contribution to its economy with about 
three  quarters of GDP. Singapore has become one of the world's three most important financial 
centres. In transport, the port of Singapore has consolidated its position as one of the busiest in 
the world and in 2020, once fully renovated, Changi Airport will be able to handle up to 
140 million  passengers a yea r, a bit more than my country's entire population.  
4.26.   Mexico and Singapore share many interests and values, both in the WTO and in other 
trade  forums such as APEC and more recently the Trans -Pacific Partnership Agreement. A few 
weeks ago, the President of Sin gapore, Mr  Tony Tan, paid a State visit to Mexico, during which the 
two Heads of State stressed the importance of the relationship between the two countries and 
signed three bilateral agreements on cooperation in food and agriculture, development and 
educa tion, respectively.  
4.27.   Mexico expects to continue collaborating very closely with Singapore in the various activities 
that unite us, with a view to strengthening the Multilateral Trading System.  
4.28.   Before concluding, I would like to thank the delegation of Singa pore for all the work it has 
done in connection with its Seventh Trade Policy Review and in replying to the questions submitted 
by my delegation. We wish it every success with the continuation and conclusion of the review.  
AUSTRALIA  
4.29.   Australia welcomes the opportunity to participate in Singapore 's Trade Policy Review. We 
have a close bilateral relationship with Singapore encompassing a wide range of shared interests 
including strong trade links. Two -way trade was worth $28.4 billion in 2014 -15, making Singap ore 
Australia 's fifth -largest trading partner globally. Singapore was also Australia 's fifth -largest foreign 
investor investing $80.2 billion in 2014. Australian investment in Singapore was $50.7 billion. 
Singapore is our largest trade and investment partn er in ASEAN.   
4.30.   Australia notes the four pillar approach to Singapore 's trade policy – enhancing productivity 
and innovation -led growth, rules based multilateralis m, commitment to trade liberaliz ation and, 
modernising Singapore 's domestic regulatory regime.  
4.31.   Considering the challenging economic environment in which Singapore is operating, 
Australia commends the focus on ensuring stability, boosting skills and productivity and preparing 
for economic transformation.   
4.32.   Australia also commends the focus on innova tion-led growth. Singapore is clearly a world 
leader in building a supportive, flexible environment and innovation culture for emerging WT/TPR/M/343 • Singapore  
 
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  businesses. Innovation is a key pillar of the Singapore -Australia comprehensive strategic 
partnership (CSP) – which will  assist in building our bilateral cooperation in this area.  
4.33.   Australia welcomes Singapore 's strong focus on the rules -based multilateral trading system 
as embodied in the WTO. Australia commends the seriousness with which Singapore takes its WTO 
membership and its high level of participation in the WTO agenda.  
4.34.   In this regard, we congratulate Singapore on being the second WTO Member to accept the 
WTO Agreement on Trade Facilitation, and for its continued support and promotion of the benefits 
of implementatio n of the Agreement to other WTO Members.  
4.35.   Australia further welcomes Singapore 's commitment to trade liberaliz ation at a bilateral and 
regional level. The Singapore -Australia Free Trade Agreement (SAFTA), which entered into force 
on 28 July 2003, is a centr al pillar of Australia 's econom ic relationship with Singapore.  In May this 
year, Australia and Singapore announced that the Third SAFTA Review was substantially 
concluded. The Third SAFTA Review will further integrate our two economies by locking in access  
and providing business certainty in trade and investment into the future . It will address 
longstanding "behind the border " issues of interest to Australian services providers, in areas such 
as education, labour mobility and professional services. We also acknowledge Singapore 's 
participation in the Trans Pacific Partnership (TTP) as a further commit ment to regional trade 
liberaliz ation.  
4.36.   Finally, noting Si ngapore 's commitment to moderniz ing its regulatory regime, Australia 
commends Singapore for continuousl y being ranked first in the World Bank 's Ease of Doing 
Business index from 2006 until today.  
4.37.   For this review, Australia has submitted a number of written questions and we appreciate 
Singapore 's prompt responses. We wish Singapore a successful TPR.  
THE SEPARATE  CUSTOMS  TERRITORY  OF TAIWAN,  PENGHU,  KINMEN  AND  MATSU  
4.38.   We are pleased to see Singapore being recognized as a "model of development ". This is 
well-deserved when you consider its GDP p er capita in 2015 of almost US$ 53,000, its average 
economic growth ra te of 3.6% per year over the review period, and its low inflation and 
unemployment rates. We are also pleased that, according to our statistics, Singapore is now our 
5th largest trading partner and we are its 6th largest. The total value of two -way trade r egistered 
between us in 2014 was close on US$29 billion. We believe that both our economies have 
benefited from the fairer and sounder environment for international trade. And, looking to the 
future, with the imminent entry into force of the Agreement betw een Singapore and the Separate 
Customs Territory of Taiwan, Penghu, Kinmen and Matsu on Economic Partnership (ASTEP), we 
have great confidence that our bilateral trade relationship is to be further enhanced.  
4.39.   On the subject of trade policies and practices, we have already submitted a number of 
questions to Singapore in advance. Our particular interests range from Singapore 's measures in 
support of SMEs ' participation in public infrastructure projects, to its investment incentive 
schemes, its strategies for d eveloping innovative capabilities, tobacco control policies, certain 
copyright enforcement practices, measures to counter the decline in exports over a period of 
nineteen consecutive months, its strategies for the future economy, the state -of-play in vario us 
FTA negotiations, the Competitive Licensing Framework, and, lastly, the electricity packages. We 
thank Singapore for their written answers, which we shall study very carefully and may come back 
with further questions at a later stage.  
4.40.   Even though it has  already a very good record of economic performance, the Government of 
Singapore, to its credit, continues to take steps to restructure and transform the economy towards 
innovation -led growth and higher productivity. As an important trading partner of Sing apore, we 
naturally look forward to its even greater success in the future.  
4.41.   Finally, I would like to commend Ambassador Tan for her able leadership and important 
contribution to the WTO work.  WT/TPR/M/343 • Singapore  
 
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  CANADA  
4.42.   Allow me to highlight two milestones of significance, bo th to Singapore and Canada. It will 
be 20 years in December since Singapore hosted the inaugural WTO Ministerial Conference held in 
1996. Over the past 20 years, Singapore has actively participated in WTO work to support the 
rules-based multilateral tradin g system and trade liberalization. Also, 2015 marked the 50th 
anniversary of the independence of Singapore as well as the establishment of diplomatic ties 
between our two countries. Canada is proud to have been one of the first countries to have 
establishe d diplomatic relations with Singapore in 1965.  
4.43.   Over this half -century of friendship and cooperation, our people -to-people and commercial 
ties have undergone remarkable expansion, as evidenced by the numerous commercial and 
cultural exchanges, as well as li nkages between academic institutions.  
4.44.   Canada and Singapore enjoy strong education and people -to-people links: there are close to 
16,000 Singaporean alumni of Canadian universities, and some 83,000 Canadians visit Singapore 
every year.  
4.45.   Singapore is one of C anada 's largest exports markets in Southeast Asia. In 2015, the value 
of Canada 's bilateral merchandise trade with Singapore was $2.46 billion. Singapore is Canada 's 
second -largest destination in Southeast Asia for foreign direct investment (FDI) abroad, a nd 
Canada 's largest source of FDI from Southeast Asia.  
4.46.   Singapore plays  an active role in the Association of Southeast Asian Nations (ASEAN) 
region, one of the globe 's fastest growing regions and the country 's most important market and 
largest trading partn er. As a group, ASEAN ranks as Canada 's sixth largest trading partner when 
compared with individual countries, and remains a top priority for the Government of Canada. 
Singapore played an important role as Canada 's coordinating partner in ASEAN from 2012 t o 2015. 
Canada thanks Singapore for its leadership role and looks forward to continuing to work with 
Singapore to enhance our economic engagement with ASEAN member States.  
4.47.   During the period under review, Singapore has consolidated its status as a major pla yer in 
the development of the Asia -Pacific economy, a recognized global financial centre, and a 
transportation and commercial hub for the region, positioning itself as a gateway to Asia where its 
influence continues to grow through expanding commercial lin ks and a network of 21 regional and 
bilateral free trade agreements (FTAs) with 32 trading partners.  
4.48.   Singapore continues to be one of the most business -friendly economies in the world and 
best place to do business. According to the World Bank Ease of Doing  Business 2016 survey, 
Singapore retained the number one spot in 2015, out of 189 countries.  
4.49.   Singapore 's skilled work force, world -class infrastructure, strong intellectual property 
protection, and good corporate governance have attrac ted investments from over 
7,000  multinational companies, including over 120 Canadian firms.  
4.50.   However, the recent subdued global growth and the restructuring of regional economies 
have had an impact on Singapore 's economic growth. According to the May 2016 statement of the 
International Monetary Fund (IMF), growth has slowed down markedly in recent years and will 
continue to weaken. Real GDP grew by 2% in 2015, down from 3.3% in 2014. Indeed, Singapore 's 
report notes this slowdown in growth and the challenges of a small economy i n trying to reverse 
this trend. Growth is constrained by an aging labour force, tighter limits on foreign workers, 
constraints in land and energy and the costs of the shift to a productivity -based growth model. 
Looking ahead, the IMF projects GDP growth to  slow further to 1.8% in 2016 as the full impact of 
the 2015 slowdown in global trade and capital outflows is felt.  
4.51.   Facing similar challenges, including a demographic shift and the impacts of a weaker global 
economy, Canada too recognizes the contribution of strategic investments in skills and training, 
infrastructure and innovation to  a sustained and inclusive economic growth. We therefore 
encourage Singapore to continue with its economic restructuring to enhance productivity and 
innovation -led growth.  WT/TPR/M/343 • Singapore  
 
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  4.52.   We turn Singapore 's attention to concerns raised by Canada in our advanced written 
questions related to maritime transport, government procurement and energy policy. We 
appreciate the responses received from Singapore and continue to study their responses. 
Addressing Members ' concerns and questions raised throughout the review will contribute to 
advancing trade liberalization and ultimately strengthening the multilateral trading system.  
4.53.   Canada looks forward to a constructive exchange of views on all aspects of  Singapore 's 
trade regime and its multi -faceted economy.  
HONG  KONG,  CHINA  
General  
4.54.   Hong Kong, China (HKC) and Singapore have all along been close trading partners, and w e 
share a lot of similarities. We are both small and open economies; we both have the s ame 
aspirations to maintain a free and open trade and investment environment; and we both earnestly 
pursue trade liberalisation and facilitation in this Organization, as well as in other regional trade 
fora. 
4.55.   Our bilateral trade relationship has b een growin g stronger over time.  In 2015, we were each 
other 's 5th largest trading partner in goods, with total trade exceedi ng US$39 billion. Singapore 
also ranked the first in terms of both trade in goods and trade in services with HKC amon g the ten 
ASEAN Member St ates. We hope businessmen and investors of both side s will soon be able to 
capitaliz e on the ASEAN -HK free trade agreement once negotiatio ns are successfully concluded.  
Specific topics  
Supporting the Rules -Based Multilateral Trading System  
4.56.   On the multilat eral front, both HKC and Singapore are staunch supporters of the multilateral 
trading system. In particular, we appreciate Singapore 's efforts in working towards stronger 
disciplines on transparency and due process in anti -dumping actions under the Doha De velopment 
Agenda. We look forward to working closely with Singapore and other like -minded Members to 
further advance the work in this area.  
4.57.   Like HKC, Singapore also participates in the negotiations on the Environmental Goods 
Agreement (EGA), with the aim o f liberalising  trade in environmental goods. Together with 
Singapore and other participants, we look forward to the successful conclusion of the EGA as soon 
as possible.  
Trade Facilitation  
4.58.   Another area of WTO work that both of us attach great import ance to  is Trade Facilitation. 
We appreciate in particular Singapore 's trade facilitating customs procedures.  For example, 
Singapore operates its Trade Facilitation and Integrated Risk -based System (TradeFIRST), 
whereby Customs accords trade facilitation measures  to companies under a five -tiered s cheme 
(from basic to premium). We are pleased to note that when compared with the last TPR report, the 
number of certified companies categorised under the higher tiers has almost been doubled. This 
means that more compani es can enjoy a greater level of trade facilitation.  
4.59.   We also applaud Singapore for being one of the first WTO Members to deposit its instrument 
of acceptance of the Trade  Facilitation Agreement (TFA). We appreciate that Singapore has notified 
all the provis ions of the TFA under its Category A commitments, and will implement them 
immediately upon entry into force of the Agreement.  
Tariffs  
4.60.   Singapore has bound almost 70% of its tariff lines with a simple av erage bound rate of 
around 7%. It is commendable that a ll applied tariffs of Singapore are at zero with the except ion 
of only six tariff lines.  WT/TPR/M/343 • Singapore  
 
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  Services  
4.61.   We note that services is a main driver of economic development in Singapore, accounting 
for over two -third of the country 's GDP  and over 70% of its employment . Given the importance of 
this sector, it would be in the interest of Singapore to continue liberalising trade in services, and 
we encourage Singapore to keep up its good efforts in this direction.  
Concluding r emarks  
4.62.   Finally, as fellow Member of the WTO, H KC would like to thank the Singaporean Mission, 
under the capable leadership of Ambassador Tan Yee -woan, for their constructive engagement in, 
and contribu tions to, the work of the WTO. We wish Singapore a very fruitful and successful TPR.  
CHINA  
4.63.   Singapore maintains one of the most open trade and investment regimes in the world. It is 
also an active player in regional and bilateral trade arrangements. Singapore has built a 
comprehensive FTA network with 21 signed agreements covering over 70% of its trade vol ume as 
of today. And in the WTO, Singapore has been a staunch and long -standing supporter of the 
Multilateral Trading System, and important contributor to the success of the Bali and Nairobi 
Ministerial meeting. We commend the Ambassador Tan Yee Woan for h er significant contribution to 
the multilateral trading system, especially as the chair of CTDSS and look forward to working 
closely with our Singapore colleagues in the future.  
4.64.   Singapore and China shares cultural roots and maintains close relations. China  is the largest 
trading partner of Singapore, both in terms of import and export. The trade volume reached 
US$52 billion in 2015, and there are 7500 Chinese companies registered in Singapore, almost 
doubled from just five years ago. On the other hand, Sing apore 's cumulative investment in China 
totalled US$79 billion by the end of 2015, and since 2013, Singapore has been China 's largest 
foreign investor for three consecutive years. The Sino -Singapore cooperation has set an example 
of how big and small econom ies can help each other in achieving mutual prosperity.  
4.65.   Building on this  success, the two countries are still working closely to further expand the 
bilateral economic cooperation, particularly on the areas such as FTA upgrade and a third flagship 
cooperat ion project in Chongqing. Singapore also has an important role to play in the 
implementation of China 's One Belt and One Road blueprint.  
4.66.   We have submitted written questions to Singapore and appreciate its answers, which are 
timely delivered, and we will st udy carefully.  
UNITED  STATES  
4.67.   We have looked forward to today 's discussion because of our strong partnership with 
Singapore, its significant contributions to the global trading system, and because Singapore is a 
prominent example of trade 's benefits at a ti me when some stakeholders in some countries are 
questioning the benefits that international trade and engagement can bring.  
4.68.   Singapore 's importance as a trading nation sur passes its size and population. For the 
United  States, Singapore is our 17th largest g oods trading partner, with US$50 b illion in two -way 
goods trade. Singapore is our 19th largest services trading partner, with US$21 bill ion in two -way 
services trade. Our bilateral FTA with Singapore, our first in Asia, has been in effect since 2004 
and ha s led to a 50 % increase in our two -way trade, significantly benefiting bo th our nations. The 
combined stock of our investment in each other 's countries is US$200 billion.  
4.69.   Singapore 's opennes s is a defining characteristic.  Its deep integration in the global  economy 
has been an important driver of its economic growth and developm ent. Despite external challenges 
during the time frame of this and previous reviews, Singapore 's economy continues to perform 
well, with economic growth averaging 3.6 %, low in flation,  and low unemployment. If we go back 
to 2004, the year that our bilateral FTA entered into force, Singapore 's per capita GDP has more 
than doubled from US$26,000 in 2004 to US$53,000 in 2015, making Singapore one of the most WT/TPR/M/343 • Singapore  
 
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  prosperous countries in the wor ld. This is an impressive long -term economic performance, driven 
by trade.  
4.70.   We commend Si ngapore 's leadership on trade. As we are reminded in Geneva week after 
week, Singapore remains a champion of t he multilateral trading system.  During the time period of 
this review, Singapore has made important contributions to our work, including by promptly 
ratifying the Trade Facilitation Agreement, supporting the expansion of the Information Technology 
Agreement, and working towards an Environmental Goods Agreement th at has tremendous 
potential to make green technologies more affordable and accessible by eliminating tariffs on a 
wide range of envi ronmentally friendly products. Singapore 's consistent approach to liberalizing 
trade through multilateral, regional, and bil ateral initiatives has benefited its economy and those of 
its trading partners.  
4.71.   In the Trans -Pacific Partnership negotiations, Singapore played an important leadership role 
in concluding a comprehensive, high -standard agreement that opens markets, addresse s new and 
emerging issues in the regional and global economy, and sets important new regional and global 
standards in important areas such as worker rights, protecting the environment in trade 
agreements, and digital trade. We look forward to working with Singapore and our other TPP 
partners to implement this agreement as soon as possible.  We also look forward to working with 
Singapore to advance broader regional economic integration through APEC and our U.S. -ASEAN 
initiatives.  
4.72.   During this review, we would  welcome more information about Singapore 's experience and 
perspective in providing technical assistance to build the trade capacity of developing countries 
through its T hird Country Training Programs.  In the Government Report, Singapore notes the 
contribu tions of the Singapore -WTO Third Country Training Program, which is one of many similar 
collaborative training programs that Singapore has established with other developed country and 
intern ational organization partners. This innovative approach appears to  have many advantages, in 
that developed countries are able to leverage resources and beneficiaries are able to benefit from 
the e xpertise of multiple sponsors. We are very interested in working with Singapore to expand 
our cooperation on trade activities under the Singapore -United States Third Country Training 
Program, established in 2012.  
4.73.   The United States finds itself in the rather unusual position of bringing very  little criticism to 
this TPR. In advance of this review, we provided a short list of quest ions to Singapore on several 
trade policy issues including policies related to intellectual property, legal s ervices, and import 
licensing. We tha nk Singapore for its responses.  During the discussion today, we are interested in 
learning more about the Comm ittee on the Future Economy and its efforts to build human capital 
in Singapore and make the economy more resilient.  
4.74.   In a few days ' time, President Obama will host Prime Minister Lee at the White House for a 
visit to mark the 50th anniversar y of our diplom atic relations. This will be an opportunity for our 
two leaders to highlight the success and tremendous growth of our bilateral cooperation in all 
areas including trade and also reflects the closeness of our relationship and the high regard for 
which Singa pore's perspectives are held in Washington.  
4.75.   We wish Singapore a successful trade policy review and look forward to further cooperation 
with Singapore on all fronts --bilaterally, regionally, and here at the WTO.  
OMAN  
4.76.   Oman and Singapore enjoy excellent polit ical, economic and trade relations. With the recent 
entering into force of the Singapore -GCC Free Trade Agreement in which Oman is an active 
member, we anticipate a further expansion and strengthening of our current strong economic and 
trade relations in t he coming years.  
4.77.   Singapore 's economic development during the last decades is no doubt one of the most 
impressive success stories of modern times. Despite the challenging global economic environment 
that we are in, Singapore managed, according to the Secret ariat report, to register on average an 
economic growth of 3.6% per year during the period 2012 -2015. Also both the rates of inflation 
and unemployment have been low averaging around 2% annually. Its investment regime has few WT/TPR/M/343 • Singapore  
 
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  restrictions. Singapore 's GDP per capita was around US$53,000 in 2015. These figures no doubt 
attest to the remarkable success of Singapore 's economic policy.  
4.78.   Singapore has bound 69.3% of its tariff lines. The simple average bound rate is at 6.9%. We 
are encouraged to note that accord ing to the Secretariat report, Singapore is prepared to increase 
its binding coverage as part of the Doha Development Agenda negotiations.  
4.79.   We note with great interest the proactive approach adopted by Singapore in meeting the 
ever-changing demands of a glo balized world. Initiatives such as Skillsfuture, which aims to equip 
the coming generations with skills for the future economy, and the recently established Committee 
on the Future Economy, are testament to Singapore 's sound economic planning and determina tion 
to remain as one of the most robust and sustainable economies in the world. Indeed we hope to 
learn from Singapore 's experience in this area.  
4.80.   Oman commends Singapore for being a firm supporter of the Multilateral Trading System 
and an active participa nt in negotiations. Oman also lauds Singapore 's strong commitment to 
multilateral trade rules essential for the smooth functioning of the global economy. Even though 
Singapore is a party to several FTAs, it views these as complementary and not as substitut es to 
the Multilateral Trading System.  
BRAZIL  
4.81.   It is a matter of great satisfaction for Brazil to take part in the seventh Trade Policy Review 
of Singapore, a country that epitomizes the spirit of trade openness. Since 2006, Singapore has 
been ranked first in the World Bank 's "Ease of Doing Business Index " and, in 2015, Singapore 
obtained the first position in the "Network Readiness Index " published by the World Economic 
Forum. Let me congratulate Singapore for these outstanding results.     
4.82.   The participatio n of Singapore in this important exercise shows us its strong commitment to 
the multilateral trading system and to this organization. Trade, as we all know, contributes 
significantly to the Singapore 's economy. According to both the Gove rnment 's and the 
Secretariat 's report, trade in Singapore, considering goods and services, reached almost four times 
the size of its GDP. In that context, Brazil is very interested in all measures taken by Singapore to 
face the slow recovery of international trade.  
4.83.   Since it s previous Trade Policy Review, in 2012, Singapore 's economy has performed well, 
growing at an average rate of 3.6% per year during 2012 -2015, despite a sluggish global demand. 
In that same period, however, trade with Brazil decrea sed year by year, reachin g US$2. 6 billion in 
2015, the lowest level in the period. That trend deserves the careful attention of our Governments.  
4.84.   During the period under review, both Governments have taken important steps to 
strengthen our bilateral relation. The inauguration, in Brasilia, of the first Embassy of Singapore in 
Latin America by the Minister of Foreign Affairs, K . Shanmugam, in 2013, and the visit of the then 
Brazilian Minister of Foreign Affairs, Ambassador Mauro Vieira, to Singapore, in 2015, only 
reinforces that re lationship. Brazil is ready to continue engaging with Singapore to explore and 
develop initiatives that can be beneficial to both our economies.   
4.85.   Bilateral trade comprises a wide range of products, from agricultural to high -technology 
goods. Brazil 's main  exports to Singapore are vessels, fuel, mineral oils, meat and iron. 
Singapore 's main exports to Brazil are electric and mechanical machinery, chemicals, 
pharmaceuticals, plastic and organic chemicals.  
4.86.   Singapore remains an important destination of Brazil ian investments through our main 
companies, such as Petrobras, Vale, Brasil Food, Brasken, Seara, Queiros Galvão and Tramontina. 
Brazil 's aircraft company, EMBRAER, maintains in Singapore an important flight simulator training 
centre and also a maintenance  site that serves all Asia. On our part, we remain ready to engage 
with Singapore to explore alternatives of investments in Brazil.  
4.87.   Singapore continued support to the multilateral trading system must be commended. 
Among the first to ratify the Trade Facil itation Agreement, Singapore has also been very active in 
the discuss ions related to the trade defenc e instruments in this house, as stated in its WT/TPR/M/343 • Singapore  
 
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  Governments report, attaching great importance to transparency matters. In that regard, Brazil 
invites Singap ore to keep its proactive approach in the discussions taking place in Geneva which 
will definitely contribute to the evolution of the multilateral trading system.  
JAPAN  
4.88.   Singapore is an importa nt economic partner in the Asia -Pacific region for Japan. Japan will 
make continuous efforts to maintain and further develop the strong ties between us.  
4.89.   The report by the Secretariat notes that the economy of Singapore has performed well since 
its last Trade Policy Review, the average growth rate of the country 's GDP f rom 2012 to 2015 is 
remarkable at approximately 3.6% and its unemployment rate has stayed very low. Furthermore, 
Japan found the trend  positive for  the amount of Singapore 's FDI since 2012. Japan expects 
Singapore to develop its economy based on an open bu siness and in a trade environment.  
4.90.   In terms of FTAs, Singapore has entered 21 FTAs into force and concluded three 
Agreements, including the TPP. Furthermore, the country has joined new RTA negotiations. Japan 
commends Singapore on its efforts to liberalize  trade and hopes that these FTAs will contribute to 
strengthen the  multilateral trading system.  
4.91.   Let me make some brief comments on specific issues.  
4.92.   With regard to geographical indications, the Secretariat report notes that the new 
Geographical Indications  Act will enhance protection measures and was adopted by Singapore 's 
Parliament in April 2014, which Japan commends. However, under the new Act, registration of the 
GI is allowed only for a certain category of goods.  We hope that Singapore will provide app ropriate 
protection for other goods as well.  
4.93.   In terms of legal services, the practice of the Singapore law for foreign law firms is 
restricted for now. We understand that by obtaining a certain type of licence and the forming  of a 
co-venture enables foreig n law firms to practice but it is not easy for foreign law firms to obtain a 
licence and find appropriate partners in Singapore. Japan hopes that Singapore will relax this 
restriction, for example by allowing foreign law firms to employ domestic lawyers.  
4.94.   In conclusion, I would like to express our strong wish to continue the cooperation between 
Singapore and Japan. We wish Singapore a successful and productive TPR.  
NEW  ZEALAND  
4.95.   New Zealand and Singapore have regular and constructive trade and economic engagem ent 
based on our shared experience as small, open economies striving to maintain competitiveness in 
an increasingly crowded and com plex international environment.  In practical and bilateral terms , 
Singapore is an important trading and investment partner fo r New Zealand, consistently featuring 
in New Zealand 's top ten partner markets for two -way goods  trade and inwards investment. Trade 
in services, tourism in particular, is also becoming an increasingly significant component of the 
relationship.  
4.96.   New Zealand  commends Singapore 's active approach to trade liberaliz ation, in particular its 
free trade agreement agenda and consistent ambition for high -quality and comprehensive 
outcomes, an ambition that New Zealand shares. We recall the way that New Zealand and 
Singapore worked together with a shared vision of our bilateral relationship – framed through the 
Comprehensive Economic Partnership - as a stepping stone to support regional and global 
economic integration. In particular, we underline the value of that stra tegic vision made real 
through the P4 Agreement where together with Chile and Brunei we worked to evolve this 
agreement into the TPP.  
4.97.   We welcome Singapore 's ongoing commitment to the rules -based multilateral trading 
system helps to create and sustain a le vel playing field for all economies to compete fairly. This 
includes enabling participation in regional and global supply chains, as well as in promoting 
sustainable economic growth.  WT/TPR/M/343 • Singapore  
 
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  4.98.   Our work together in supporting and sustaining the multilateral system i s a vital element in 
building success both in the past together at Bali and Nairobi, as well as looking ahead to MC11.  
4.99.   We note too that Singapore 's commitment to and engagement in the multilateral system 
includes a willingness to divert its own scarce reso urce – namely the energy and time of its 
Ambassador – to Chair the Committee on Trade and Development in Special Session. This is a 
practical and meaningful contribution to sustaining multilateralism that further underlines the kinds 
of investment Members like Singapore are prepared to make in real world terms.  
4.100.   New Zealand notes that Singapore has an international reputation for transparency, ease 
of doing business (in fact sometimes we switch places at the top of this list), and creating an 
environment co nducive to effective and efficie nt trade and investment flows. New Zealand further 
notes Singapore 's significant recent investment in economic policies such as the Skills Future and 
the Research, Innovation and Enterprise 2020 Plan, and hopes that Singapor e's experience will 
inform wider international policy debates as economies seek to address their own productivity and 
sustainable growth challenges.  
4.101.   We note the range of FTAs to which Singapore and New Zealand are party, including the 
recently -signed Trans -Pacific Partnership which evolved from earlier agreements  involving both our 
countries. Our collaboration continues in the Regional Comprehensive Economic Partnership 
negotiations which builds on our own ASEAN -Australia -New Zealand FTA (AANZFTA) which is an 
important referen ce point for the RCEP process. At the same time, Singapore has commenced or 
finalised agreements with a diverse range of other partners which reinforces the value it places on 
developing common rules and abiding by them for mutual benef it. 
4.102.   New Zealand commends Singapore for concluding, with the European Union, the first FTA 
that includes the goal to progressively reduce subsidies for fossil fu els. As the FTA points out, 
removal of these subsidies both limit distortions to trade and reduc e greenhouse gas emissions, 
and can thus lead to positive improvements for b oth trade and the environment. Fossil fuel subsidy 
reform is an area that we consider along with others to be of systemic significance for all 
Memb ers, as we collectively recogniz ed by its inclusion in the Sustainable Development Goals 
agreed by our Leaders at the UN. We look forward to hearing more on this issue, including through 
other Members ' Trade Policy Review processes.  
4.103.   New Zealand notes with interest Singapore 's establishmen t of a Non -Tariff Measures Unit 
and we look forward to ongoing engagement with Singapore on the development o f their thinking 
in this area. We see opportunities for information -sharing on how best to effectively manage and 
address non -tariff measures that act as barriers to trade, as well as multilateral cooperation in 
advancing the age nda on these important issues. We encourage Singapore to share its experience 
in this work, including through the relevant Regular Committee, but also as a substantive 
contri bution to the negotiations to MC11 and beyond . 
4.104.   Taken together, Singapore is a valued partner for New Zealand and, we believe the wider 
multilateral system. We look forward to continuing to work together to strengthen and deepen this 
relationship, including  and perhaps above all, in pursuit of our shared objectives for the 
multilateral trading system.  
REPUBLIC  OF KOREA  
4.105.   We are pleased to note that, as strong supporters of the multilateral trading system, 
Singapore and Korea have long maintained a mutually sup portive economic relationship.  
4.106.   Last year, Singapore was Korea 's tenth largest trading partner with a total bilateral trade 
volume reaching approximately US$22 billion, up from US$15 billion in 2006 when the bi lateral 
FTA entered into force.  In addition, th e Korea -ASEAN FTA that took effect in 2007 for goods and 
2009 for services has helped further deepen the already close economic ties between the two 
countries.  
4.107.   Turning to Singapore 's overall economic performance, we would like to commend 
Singapore for achi eving an average 3.6% GDP growth during the review period, along with low 
inflation and low unemployment (both averaging around 2% annually).  WT/TPR/M/343 • Singapore  
 
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  4.108.   Also, as the Secretariat report rightly highlighted, Singapore has been a model of 
successful development, achievi ng the status of a high -income country with a GDP per capita of 
nearly US$53,000 in 2015. We believe that Singapore 's open and transparent trade and 
investment regime helped it demonstrate a great degree of resilience in the midst of global 
economic downtu rn. We would like to encourage Singapore to continue to pursue its economic 
restructuring towards innovation -led growth and higher productivity.  
4.109.   Korea submitted advance written questions to Singapore on issues of our particular 
interest, and we thank Sing apore for providing detailed replies to our questions.  
4.110.   We very much hope and expect that Singapore, as one of the most active players in the 
WTO, will continue to make important contributions in our common endeavo ur to make the WTO 
an Organization of oppor tunities where Members can grow and succeed.  
4.111.   In conclusion, we would like to express, once again, our appreciation to the delegation of 
Singapore and Ambassador Tan Yee Woan for their hard work in preparing for today 's meeting, 
and we wish them a very succ essful TPR.  
INDONESIA  
4.112.   First of all, we would like to associate ourselves to the statement made by the delegation 
of Malaysia on behalf of the ASEAN members.  
4.113.   Singapore is an important global trading player, with strong commitment to uphold the 
functioning o f the multilateral trading system; commitment to the functioning of transparent 
policy; and commitment to opening markets as embedded in the WTO.  
4.114.   Since the last review in 2012, Indonesia has noted Singapore 's strong commitments to 
promote economic growth a nd open trade by improving its trade and investment related policies, 
to be in line with international commitments Singapore has made in multilateral forum, as well as 
in regional and bilateral arrangements. Indonesia also notes with high regards that thes e 
commitments are being translated into implementable policies, amidst Singapore 's constantly 
active engagement in opening up trade with its industrialized and emerging trade partners.  
4.115.   Based on the Secretariat report, Singapore 's econom y has continued to p erform well, with 
economic growth averaging around 3.6% per year during 2012 to 2015; with low inflation 
(averaging around 1.9% annually); and low unemployment (averaging around 2% annually). In 
2015, GDP per capita was estimated at around US$52,900. Autho rities expect that GDP will grow 
by 1% to 3% in 2016. My delegation hopes that the Singaporean Government could maintain this 
momentum, so as to give positive impacts on the economy of the region.  
4.116.   The Government of Indonesia has long maintained its strong and sound bilateral relations 
with the Government of Singapore. Being common members of various regional economic 
cooperation such as ASEAN and APEC, Indonesia and Singapore have strengthened and will further 
strengthen our economic and trade relations.  
4.117.   With regard to trade patterns, in 2015 Singapore was one of Indonesia 's biggest trading 
partners, with bilateral trade volume amounting to US$30.6 billion. Furthermore, back in 2014, 
Singapore was the third largest export destination for Indonesian products,  and at the same time 
Singapore was the second largest source of Indonesia 's imports.  
4.118.   Despite strong traditional economic and trade ties, bilateral trade between the two 
countries in the last five years (that is between 2011 and 2015) has been experiencing  a steady 
downward trend, with an average negative growth of 7.43%. Our bilateral trade volume decreased 
from US$44.40 billion in 2011 to only US$ 30.65 billion in 2015. The Indonesia -Singapore bilateral 
trade relations in the last five years are also chara cterized by a negative balance on Indonesia 's 
side. Keeping this in mind, the Indonesian Government is willing to cooperate with the 
Singaporean Government to address this situation, with a view to attain more sustainable and 
mutually beneficial trade rela tions.  WT/TPR/M/343 • Singapore  
 
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  4.119.   In the investment area, Singapore is the largest contributor of foreign direct investment 
(FDI) in Indonesia in 2015, with US$5.9 billion in investment, which accounts to a 20% share of 
total FDI. Through this forum, Indonesia would like to inform t he delegates that the Indonesian 
Government recently established the One Stop Service for Investment, as well as a new regulation 
related to tax. We look forward to these policies enticing more investment from Singapore.  
4.120.   Aside from Singapore 's more open tr ade regime, the Indonesian Government still needs 
some clarifications on how Singapore 's non -tariff policies operate, especially policies related to the 
TBT and SPS Agreement. Any clarity on this particular issue would be of great help to Indonesian 
export ers willing to export their products to Singapore. For this purpose, we have submitted 
several written technical questions to Singapore. We thank Singapore for their prompt respond to 
our written questions, and we will conduct a further study on them.  
4.121.   We w ould like to express our special thanks to Ambassador Tan Yee Woan and her 
delegation for their constructive engagement among ASEAN members and other delegations here 
in Geneva.  
CHILE  
4.122.   We would also like to greet all the members of the Permanent Mission of Singapore, and 
especially Ambassador Ms  Tan Yee Woan, with whom we are working closely to promote common 
objectives within this Organization.  
4.123.   Similarly, we would like to acknowledge the outstanding work done by both the Secretariat 
and Singapore in drawing  up their respective reports.  
4.124.   Chile welcomes with enthusiasm the implementation of Singapore's Seventh Trade Policy 
Review and congratulates the country on the work done since its last review in 2012.  
4.125.   Chile and Singapore are two economies open to the world  that share a common vision in 
their insertion strategy, endeavour to promote free trade, and are continually seeking to 
coordinate their activities in relation to the big issues on the international agenda.  
4.126.   The framework for the economic and trade relatio ns between Chile and Singapore is 
provided by the Economic Partnership Agreement (P4), which also includes the States of 
Brunei  Darussalam and New Zealand. The P4 Agreement was signed on 18  July 2005 and has been 
in force since 8  November  2006.  
4.127.   This pionee ring Agreement formed the basis for the current TPP, which has been signed by 
12 countries in the area.  
4.128.   The P4 was designed as a strategic alliance to comprehensively confront the challenges 
associated with large markets and their dynamics, especially in A sia. This Agreement has provided 
a big stimulus for the construction of a trade and investment bridge between the south of 
Latin America and Asia Pacific. It also introduces a partnership that goes beyond the strictly 
commercial; for example, it includes a  memorandum on labour cooperation and another on 
environmental cooperation. Also worth noting are the understandings on cooperation in science 
and technology, patents and services related with the digital economy.  
4.129.   It is important to point out that the P4 A greement contains an accession clause that gives 
other economies access to it, thereby reinforcing the original intention to pursue 
greater  integration and trade liberalization in the Asia -Pacific zone.  
4.130.   For Chile, Singapore is an important trading partner within Asia. It is one of Asia's and the 
world's most important financial centres and therefore plays a fundamental strategic role in 
connection with integration into the trade of that continent.  
4.131.   Chilean exports to Singapore have grown at an average annual  rate of 5.8% (2010 -2015) 
and, among other things, include: chemical products, abalones, wine, blueberries, and salmon. 
Where imports are concerned, the goods that Chile buys from Singapore are mainly 
pharmaceutical products, medical equipment, food prepar ations, and cosmetics.  WT/TPR/M/343 • Singapore  
 
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  4.132.   The economies of Chile and Singapore are highly complementary and the relationship 
between them is becoming more and more dynamic, so that we are optimistic about the possibility 
of expanding our bilateral trade.  
4.133.   At multilateral leve l, Chile and Singapore have taken important common positions in 
various international forums. In this context, I would like to draw attention to the work done in the 
WTO, especially in relation to the Trade Facilitation Agreement (TFA). We congratulate Sin gapore 
on being one of the first Members to ratify that Agreement. Moreover, like Chile, Singapore has 
notified the special and differential treatment granted to least -developed countries in the area of 
services, in accordance with the exemption agreed at the Bali Ministerial Conference. We also hold 
shared views on e -commerce, domestic regulation, and many other issues, which we intend to put 
forward day by day within the WTO.  
4.134.   In addition, I would like to stress the joint work that has been done in the APE C Forum 
since my country joined in 1994, as part of the Chilean strategy for integrating economically into 
the Asia -Pacific trade flows and helping to create clear rules and transparent procedures in the 
field of trade. Notable, in this respect, is the lea dership provided by Singapore in achieving the 
Bogor  Goals and in the various activities related with trade facilitation and the promotion of 
regional economic integration, based on a free and open trade and investment regime.  
4.135.   Also noteworthy is Singapore' s interest in the Pacific Alliance and its status as an observer, 
which bears witness to the level of agreement with respect to regional integration strategy and the 
principles and objectives established in the Pacific Alliance Framework Agreement. We woul d 
encourage Singapore to continue participating in this important process of regional integration.  
4.136.   Chile has formulated 15 questions in connection with this Trade Policy Review exercise, 
mainly in the areas of intellectual property, price control and moder nization of the regulatory 
regime. We are most grateful for the replies to these questions.  
4.137.   Of particular interest, moreover, are Singapore's development strategy and its capacity for 
resilience in confronting a complex global economic situation, despite t he constraints on land, 
manpower and natural resources mentioned in its report.  
4.138.   We note with great interest the fact that Singapore continues to feature among the world's 
most open and competitive economies. Despite the economic difficulties at global leve l, Singapore 
has been able to achieve an average annual rate of economic growth of 3.6%, with a highly 
developed services sector, which in 2015 accounted for around 69% of GDP. In connection with its 
openness to trade, it is noteworthy that in the review p eriod the average ratio of trade volume to 
GDP was around 368%, with a large proportion of this trade taking the form of transit trade, which 
exemplifies Singapore's strategic importance as a gateway to the Asian continent.  
4.139.   We also note with special intere st the main objectives of the trade policies implemented 
during the period in question, namely:  
 Promoting productivity and innovation -led growth by restructuring the economy.  
 Supporting the rules -based multilateral trading system in order to ensure a fair and 
predictable environment for trade.  
 Encouraging trade liberalization in order to create opportunities for all businesses located in 
Singapore, and  
 Modernizing the domestic regulatory regime in order to facilitate trade.  
4.140.   Noteworthy, in this respect, has been the action taken in order to prepare Singapore to 
face the economy of the future, by means of significant training, infrastructure, innovation, 
development and other programmes. There can be no doubt that these policies, in their turn, 
represent a sou rce of inspiration for many other Members also, Chile included.  WT/TPR/M/343 • Singapore  
 
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  4.141.   As already mentioned, we have important areas of agreement with Singapore at 
multilateral  level, which in the near future will help us to make the current trading system 
more robust.  
PERU  
4.142.   Peru and Singapore maintain a dynamic and well nourished bilateral agenda. In the last 
four years, various meetings have been held at the highest level to shape and follow up this 
agenda. In 2012, a meeting of Vice Ministers for Foreign Affairs was held. In 20 13, Singapore's 
Foreign Minister paid an official visit. Moreover, there have been bilateral meetings between the 
President of the Republic of Peru and the Prime Minister of Singapore within the framework of the 
APEC Leaders Summit in Bali, in 2013, and in  Beijing, in November 2014.  
4.143.   As Singapore is one of South East Asia's largest investors in Peru and one of Asia's most 
dynamic trade, financial, logistical and technological centres, Peru is carefully monitoring its 
economic development and the opportunitie s for strengthening bilateral economic and trade 
relations.  
4.144.   At multilateral level, our economies are cooperating within the context of the Asia Pacific 
Economic Cooperation (APEC) Forum and we recently jointly participated in the establishment of 
an extend ed economic space by signing the Trans Pacific Partnership (TPP) Agreement.  
4.145.   A prominent feature in the area of trade relations is the Free Trade Agreement in force 
since 2009, which established a transparent and predictable framework for promoting bilatera l 
trade, as well as for creating a more favourable environment for the development of business 
between the two countries. This FTA is aimed at expanding trade and investment and 
strengthening cooperation.  
4.146.   Bilateral trade between Peru and Singapore has impr oved significantly in recent years, 
reaching US$90 million in 2014. In the last five years, Peruvian exports to Singapore have 
quintupled, i.e. grown by 500%, from US$8 million in 2009 to US$40 million last year. This trend 
is benefiting those Peruvian pro ducts with value added that have penetrated the Singapore 
market, such as exports of agro industrial products and clothing. Likewise, imports from Singapore 
have been increasing, reaching US$50 million in 2014. The main imports include food 
preparations, a s well as technological products, such as machine parts and accessories, printing 
equipment, tachymeters and memory units.  
4.147.   The current challenge is how to exploit the potential of the FTA between the two countries 
so as to expand trade and investment, whil e stimulating cooperation, particularly in the areas of 
science and technology, education, construction, town planning and the port system.  
4.148.   With reference to the report made by the Secretariat for the purposes of the present 
review, we would like to call p articular attention to the sustained effort by the Government of 
Singapore to encourage economic restructuring with a view to moving away from labour intensive 
growth towards growth driven by innovation and productivity.  
4.149.   Moreover, despite the international  economic crisis of recent years, Singapore's economy 
continued to grow at an average rate of 3.6% during the period 2012 2015 and is expected to 
grow by between 1% and 3% in 2016. The manufacturing sector remains an important pillar of the 
economy and acc ounts for around 20% of nominal GDP. Singapore is a net importer of services. In 
2015, this sector's contribution to GDP amounted to around 69%, headed by trade, business 
services, and financial and insurance services.  
4.150.   With regard to Singapore's trade regi me, the Secretariat report indicates that almost all 
products enter Singapore free of tax under the applied MFN tariff regime, apart from six tariff lines 
which are subject to specific duties. Tariff bindings apply to only 70% of tariffs, with a simple 
average bound rate of 6.9%.  
4.151.   The Secretariat report points out that Singapore has a wide range of tax and non tax 
incentive programmes, including horizontal incentives such as the Productivity and Innovation 
Credit programme and incentives for research and dev elopment and the establishment of WT/TPR/M/343 • Singapore  
 
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  headquarters in the country, as well as specific programmes targeted at particular sectors or 
activities, such as financial or maritime services. However, information about budgetary 
expenditures and revenue foregone as a consequence of these programmes is not readily 
available.  
4.152.   In this context, as Peru has submitted a number of questions to Singapore, in relation to 
support for business expansion abroad and the advance export declaration system, I would like to 
take the op portunity to thank the delegation of Singapore for the replies they have sent us, which 
will be passed on to our competent authorities in the capital for assessment and follow up.  
INDIA  
4.153.   India and Singapore enjoy close and multi -faceted partnership, underpi nned by strong 
economic, cultural and people -to-people linkages. Bilateral ties were elevated to a Strategic 
Partnership last year on the occasion of the 50th anniversary of the establishment of diplomatic 
relations between our two countries. Trade and eco nomic cooperation is one of the key pillars of 
our expanding ties. The Comprehensive Economic Cooperation Agreement signed in 2005 provides 
an important framework for promoting bilateral trade and investment flows. India is currently 
Singapore 's 10th large st trading partner, wi th bilateral trade of about US$ 15 billion in 2015 -16. 
Singapore is not only our foremost trading partner in the ASEAN region but also a major source of 
FDI inflows into India. Our tw o way investments were over US$ 18 billion last year in diverse 
sectors such as Information Technology, manufacturing, construction, renewable energy and 
pharmaceuticals. We cooperate within the framework of the India -ASEAN Trade in Services and 
Investment Agreements, which entered into force in July 2015. I ndia and Singapore are also 
working together for the conclusion of a Regional Comprehensive Economic Partnership 
Agreement. All in all, we are upbeat about the potential for expanding our trade and economic ties 
with Singapore.  
4.154.   Singapore 's economy has perf ormed well since its last trade policy review in 2012 with an 
average economic growth of about 3.6% per year, low inflation a nd low unemployment of around 
2% annually. Singapore has the highest trade to GDP ratio in the world of around 368%, 
representing i ts strong position as a major transhipment hub. Singapore maintains one of the most 
liberal trading regimes in the world. We commend Singapore for being ranked first in the World 
Bank's Ease of Doing Business Index from 2006 till today. We have noted that Singapore 's trade is 
underpinned by a network of regional and bilateral free trade agreements with its trading partners 
and its merchandise trade with preferential trading partners accounted for about 80% of its 
imports and 74% of exports in 2014. India ap preciates the challenge of maintaining steady growth 
in the face of an increasingly uncertain global environment. In this context, we welcome 
Singapore 's initiatives for economic restructuring to enhance productivity and  innovation -led 
growth, moderniz ing its regulatory regimes and facilitating trade through its domestic policies.  
4.155.   We would like to thank the Singapore authorities for their replies to some of the questions 
posed by my delegation, which would be reviewed by my authorities. The questions covere d 
measures affecting bilateral trade in agriculture as well as services. For example, some of the 
services measures such as mandatory salary levels, will impact the free movement of service 
providers. We hope Singapore would continue to review its policies  and practices to facilitate trade 
in services.  
4.156.   Finally, we welcome Singapore 's firm and long -standing support to the rules based 
multilateral trading system. Singapore has been an active participant in the work across the full 
WTO agenda. Both our countr ies have a shared interest in a strong and effective multilateral 
trading system and we look forward to working with Ambassador Ms. Tan Yee Woan and her team 
in Geneva in ensuring balanced outcomes in the ongoing negotiations, as well as in the regular 
work in various WTO bodies.  
THAILAND  
4.157.   Thailand would like to associate itself with ASEAN 's statement previously delivered by 
Ambassador Mariam of Malaysia.  WT/TPR/M/343 • Singapore  
 
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  4.158.   As members of ASEAN, Singapore and Thailand have a strong and longstanding trade 
relation. In 2015, Sing apore is Thailand 's second largest trading partner in ASEAN, with trade 
value of US$15.7 billion. Globally, Singapore ranked as our 8th export destination and the 7th 
largest source of import.  
4.159.   In terms of investment, Singapore is Thailand 's second largest source of FDI in 2015, with 
net FDI inflow of approximately US$1.5 billion.  
4.160.   We would like to congratulate Singapore on its solid economic growth since the last review, 
averaging 3.6% during 2012 -2015 driven by trade and investment.  
4.161.   True to its principles, Singapore has one of the most transparent and open trade and 
investment regimes in the world. Most products under MFN enter Singapore tariff -free. Singapore 's 
investment incentives have always been transparent and facilitative. In line with its economic 
restructuring objectives to shift from labour -intensive growth towards innovation and 
productivity -led growth, Singapore has made enhancements to its investment incentives during 
the period under review, such as horizontal incentives in the form of Productiv ity and Innovation 
Credit, and incentives for research and development or headquarter establishment in Singapore.  
4.162.   Singapore is a staunch advocate for the rule -based multilateral trading system. It sets 
good examples for WTO Members in terms of notification s as it regularly submits its notifications 
to WTO bodies. Singapore also participated in Plurilateral Agreements, such as the negotiation for 
the EGA and the expansion of the ITA which Singapore has implemented. We also commend 
Singapore for being one of the first to submit its ratification for the TFA.  
4.163.   In this review, Thailand submitted quite a number of questions to Singapore, covering the 
policies and measures of our interests regarding Trade in Services and Competition policy. We 
thank Singapore for it s responses, which we will study carefully with great interest.  
4.164.   We are thankful for the close and friendly cooperation with Singapore in every level, 
including that between our Geneva -based delegations.  
ECUADOR  
4.165.   Ecuador is following this Seventh Trade Polic y Review with keen interest, given its 
relationship with Singapore, which has grown stronger in recent years, especially since the signing 
by the Foreign Ministers of the two countries, in 2013, of a Memorandum of Understanding on the 
Establishment of Poli tical Consultations and a Double Taxation Agreement. The Memorandum of 
Understanding was concluded for the purpose of institutionalizing the dialogue mechanism and 
assessing the bilateral relationship by establishing cooperation mechanisms, which has helpe d to 
strengthen and intensify the ties between the two countries. At the same time, the tax agreement 
seeks to strengthen bilateral relations in the areas of taxation, trade and investment and to 
provide the tax authorities of the two countries with tools for combating avoidance and evasion.  
4.166.   We would also like to draw attention to the Memorandum of Understanding on Cooperation 
in Logistics and Transport for the Logistical Hub of the City of Manta, signed in the same year by 
the Ecuadorian Foreign Minister a nd the Director General for International Enterprise of 
Singapore's Ministry of Trade and Industry, for the purpose of developing logistical parks and 
zones in Ecuador on the basis of Singapore's experience in the field.  
4.167.   With reference to the Secretariat r eport, we note that during the period 2012 2015, 
Singapore's average annual economic growth was approximately 3.6% and driven mainly by 
external demand and consumption. Another figure worth noting is the 9.5% average annual 
increase in GDP recorded by Sing apore since independence in 1965.  
4.168.   Likewise, we would stress the fact that the services sector accounts for approximately 69% 
of nominal GDP and approximately 71% of total employment. Here, wholesale and retail trade lead 
the way, followed by business servi ces; financial services; and transport and storage services, 
whereas the proportion corresponding to agriculture, fishing, and mining and quarrying appears to 
be insignificant.  WT/TPR/M/343 • Singapore  
 
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  4.169.   Ecuador notes the information provided with respect to the policy adopted by th e 
Government of Singapore to encourage further economic restructuring away from labour intensive 
growth towards growth driven by innovation and productivity, which leads us to applaud the 
establishment of the Committee on the Future Economy.  
4.170.   Similarly, Ecu ador notes with great interest the wide range of tax and non tax incentive 
programmes such as the Productivity and Innovation Credit programme; the specific programmes 
for particular sectors or activities, such as financial and maritime services; and the i ncentives for 
research and development.  
4.171.   Ecuador also wishes to draw attention to the changes made in Singapore's sanitary and 
phytosanitary regulations and notes the work that has been done to make the sanitary and 
phytosanitary measures consistent with th e international standards, directives and 
recommendations of the Codex Alimentarius, the World Organisation for Animal Health (OIE) and 
the International Plant Protection Convention (IPPC). We also note that Singapore's Agri Food and 
Veterinary Authority ( AVA) is the entity responsible for food safety and animal and plant health, as 
well as being the SPS enquiry point. In this connection, we consider it important to have more 
information concerning, among other things, the products with phytosanitary access es and the 
requirements that must be met according to country of origin.  
4.172.   On the other hand, Ecuador recognizes the efforts made by Singapore to bring about a 
continuous improvement in customs procedures and requirements. Here we have in mind its 
TradeFIRST  system, Secure Trade Partnership programme and customs management platforms. In 
relation to the latter, we are pleased to report that Ecuador's single window for foreign trade has 
been completely implemented, that is to say, that the country is technologi cally prepared to 
handle the electronic exchange of control documents certifying the quality and originality of the 
product exported from Ecuador. We would like to establish agreements that make it possible to 
accept electronic certificates generated by Ec uador.  
4.173.   We would like to conclude by thanking the delegation of Singapore in advance for its 
replies to the questions we have asked concerning certain specific aspects of its trade policy, which 
should provide information of importance for strengthening bil ateral relations in the area of foreign 
trade, and by wishing Singapore a successful review.  
COLOMBIA  
4.174.   I consider it appropriate to begin by congratulating Singapore on its economic performance 
in times of crisis. Clearly, its economic formula is still work ing despite the difficult 
global  environment. Singapore has distinguished itself by maintaining an open trade and 
investment regime, in which priority is given to institutional transparency and stable policies, so 
that it has remained a privileged destinat ion for doing business. There can be no doubting why 
Singapore has for years been one of the world's most competitive economies according to the 
Global Competitiveness Index (No.  2 during the period 2014 –2016). The name Singapore 
undoubtedly comes from San skrit, in which "singa" means "lion" and "pore" means "city", and 
today that city is a trading "lion".  
4.175.   In 2015, Singapore's economy grew by 2.0%, almost two percentage points below the 
average rate for the immediately preceding period (2012 to 2014). Altho ugh the reduction cannot 
be lightly dismissed, it is important to bear in mind that the country has recorded positive growth 
for more than a decade despite the considerable constraints on its economic resources such as 
manpower, energy and land. This lack of economic factors makes it more prone to external shocks 
such as the negative effect of the fall in oil prices on the marine engineering and 
shipping  industries, two sectors of great industrial importance for the country.  
4.176.   The openness of Singapore's econ omy has become one of its main assets and this is 
reflected in a trade in goods and services that reached almost four times the country's GDP during 
the review period. With regard to its specific performance in the area of trade, the previously 
mentioned i nternational situation has again had a direct effect on the trade in goods, which has 
been less fortunate than the trade in services. Whereas during 2015 the former ended up with a 
contraction of 5.2% after having enjoyed average growth of 4.8% between 201 2 and 2014, 
trade  in services maintained a growth rate of never less than 3.4% during the review period.  WT/TPR/M/343 • Singapore  
 
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  4.177.   On the other hand, there have been no significant variations in Singapore's macroeconomic 
and labour market policies, so I shall not dwell on them. How ever, I would like to draw attention to 
the way in which Singapore is preparing for the future. When a lion encounters a problem, it 
confronts it and Singapore is doing that too. The volatility of the international markets has 
prompted it to generate polic ies for restructuring the economy in two ways, namely, through 
innovation and productivity. With this in mind, the Government has established both incentives for 
economic restructuring and specific programmes for workforce training ("SkillsFuture"), 
infras tructure development, and corporate research and innovation, including the creation of the 
Committee on the Future Economy (January  2016).  
4.178.   Another aspect worth noting is that in Singapore internationalization is based on a sound 
and consistently managed in ternational regime. As a defender of the international system, 
Singapore actively participates in plurilateral initiatives such as the ITA and was one of the 
first Members to ratify the Trade Facilitation Agreement. Moreover, it maintains an important 
network of Regional Trade and Investment Agreements, which ensure that 80% of its imports and 
74% of its exports are covered by preferential access.  
4.179.   This brings me to our own relations with Singapore. Overall trade between Colombia and 
Singapore amounted to US $460 million in 2015. However, that trade is still based on mining and 
energy, which accounted for 93% of Colombian exports in 2014 and 98% in 2015. Where 
investment is concerned, Colombia and Singapore have succeeded in concluding a 
Bilateral  Investment A greement, which should soon enter into force. A final aspect which I 
consider it important to note is Singapore's participation, since February  2014, as an observer in 
the Pacific Alliance, which makes it one of the first observers of the process.  
4.180.   In concl usion, we would like to wish Singapore every success with its Trade Policy Review 
and urge Ambassador Tan and her Mission to continue playing an active role within the WTO with a 
view to improving the functioning of the multilateral trading system. We firm ly believe that the 
leonine leadership that Singapore has always provided will serve as an example for all the other 
denizens of this jungle.  
EUROPEAN  UNION  
4.181.   The EU considers Singapore as a clear example of how trade and foreign investment can 
bring prosper ity 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 indeed given good results. Foreign investment poured into the country and S ingapore rapidly 
became a business and trade hub in the region. Today, Singapore counts a trade -to-GDP ratio of 
over 350% and has successfully developed into a high -income country with a GDP per capita of 
almost US$53,000.  
4.182.   Furthermore, thanks to the approp riate policy measures adopted by its Government, 
Singapore has been capable of adjusting to the challenging external conditions and to grow at an 
average rate of around 3.6% per year during the period 2012 -15. The Singaporean economy has 
today solid econom ic fundamentals that have allowed it to weather the global crisis with success.  
4.183.   The EU and Singapore share many common economic interests as demonstrated by the 
continuing growth of the trade and investment relationship. EU trade and investment relations w ith 
Singapore are solid and Singapore is the EU 's most important partner in trade and investment in 
the ASEAN region. Total EU -Singapore trade in goods grew by 7.7% in 2015 to reach €48.6 billion 
and the EU confirmed itself as Singapore 's third most import ant trading partner. The EU is also the 
largest source of FDIs, accounting for around a quarter of total FDI stock in Singapore. Then, more 
than 10,500 EU companies are established in Singapore. Leaving aside trade, we also enjoy an 
enhanced cooperation in  a number of fields, including SME internationalisation, transportation 
policy and research and development  
4.184.   The FTA we have concluded with Singapore will also constitute a stepping stone to greater 
engagement between the EU and Southeast Asia and the upgra ding of the overall EU -ASEAN 
relationship. In this respect, the EU is persuaded that once the EU -Singapore FTA enters into force 
it will further strengthen the ties between the Parties.  WT/TPR/M/343 • Singapore  
 
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  4.185.   Beyond our strong bilateral relations, the EU and Singapore, as likemi nded countries, also 
work closely together at a multilateral level on most global issues. In particular, the EU fully shares 
Singapore 's view that the WTO 's rules -based multilateral trading system should remain the 
cornerstone of each Member 's trade policy . The EU greatly values Singapore 's commitment to 
transparency and commends Singapore for its active role in several negotiating groups and in 
particular in the EGA trade discussions, and for having already joined the GPA and ITA.  
4.186.   In this spirit, we are ve ry thankful for the good reports prepared by Singapore and the 
WTO Secretariat for the TPR. The EU has submitted some questions in advance of the TPR and 
would like to raise here three trade -related developments during the period under review. 
Although Sin gapore is an exemplary Member in this Organis ation, we do have a few concerns.  
4.187.   First, with regard to sanitary and phytosanitary matters, the EU regrets that Singapore 
continues to impose country -wide bans on EU m ember States when an animal disease outbrea k 
occurs. The EU would urge Singapore to take due account and recognise the regionalisation  
measures as applied by all EU member States. EU m ember States have demonstrated time and 
again that they are capable to implement this zoning principle reliably and  consistently, in 
accordance with OIE rules.  
4.188.   Second, in the area of government procurement we note with some concern that some EU 
companies wishing to participate in Singapore 's public procurement market are finding difficulties 
to do so due to prior local  experience requirements. In this sense, it is essential that the utmost 
transparency and rigour in the application of procurement standards are assured and the EU calls 
on Singapore to adopt the appropriate measures to address concerns in relation to the mentioned 
requirements.  
4.189.   Finally, the EU has expressed its interest to receive clarifications in relation to effective and 
potential policy and regulatory changes in certain sectors (including banking, telecommunication 
and transport and IPR) as submitted i n our written questions.  
COSTA  RICA 
4.190.   Costa Rica is pleased to participate in this Trade Policy Review. Singapore is a Member with 
which we share many points of view within the WTO; it is an active member of the Friends of 
Anti-Dumping Negotiations group and  has demonstrated its commitment to the process of reform 
of the multilateral trading system.  
4.191.   We appreciate the work done by Singapore and the leadership it has shown in matters of 
interest to this Organization such as the Trade Facilitation Agreement, as well as its ambition and 
commitment in connection with the extension of the ITA, and its interest in seeking progress in 
other areas such as the Environmental Goods Agreement. We hope that it continues with these 
and other initiatives that are helping to a dvance the process of binding its tariff, which currently 
extends to 70% of its tariff lines.  
4.192.   Costa Rica recognizes in Singapore a partner with a transparent and open trading system 
and welcomes the measures adopted by its Government in this respect, such as that relating to 
the risk -based integrated trade facilitation system (TradeFirst), and the scrupulousness with which 
it submits its periodic notifications to WTO committees. In fact, international trade has played a 
fundamental role as the main source o f growth and has been a critical part of its 
development  strategy.  
4.193.   Singapore has created and made good use of its strategic advantages as an international 
logistics centre, so that today the volume of trade is almost four times the volume of annual GDP. 
Despite its small area (around 720 km2) and a population equivalent to that of Costa Rica, 
Singapore has great economic potential and a solid reputation for transparency, as well as legal, 
corporate and governmental systems that provide certainty and create a favourable environment 
for doing business.  
4.194.   As a small and open country, we share with Singapore a common vision of the 
transformative role of investment and innovation in trade in goods and services within the 
global  economy. It is not surprising that as  part of its market diversification strategy and in order WT/TPR/M/343 • Singapore  
 
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  to promote trade relations, increase investment and promote cooperation, Costa Rica should have 
decided to seek closer ties with Singapore.  
4.195.   Thus, we began the process of negotiating a free trade tre aty, which ended satisfactorily at 
the beginning of 2010, after four rounds of negotiations, including for the first time the holding of 
virtual rounds. The treaty entered into force on 1  July 2013 and allowed us to implement a 
mutually beneficial comprehe nsive agreement that made it possible to bind the elimination of the 
tariffs on 100% of goods and start to demolish the barriers to trade in goods and services between 
the two countries.  
4.196.   Like Singapore, Costa Rica considers that productivity -led growth is the most sustainable 
way of ensuring long -term economic expansion. This is an objective in keeping with a reality in 
which resources such as land, labour and energy remain limited, within a context of enhanced 
climatic vulnerability. We therefore note with  much interest the recent reforms implemented by 
Singapore with the aim of converting itself into a society based on innovation and productivity and, 
in particular, the part to be played by the Committee on the Future Economy within this scheme.  
4.197.   Although C osta Rica has not submitted any questions on this occasion, we are always 
interested in the trade policies of an exemplary partner such as Singapore. In particular, we are 
interested in the leadership role that a Member such as Singapore could play in the multilateral 
conversation concerning the elimination of fossil fuel subsidies, one of the tasks of this 
Organization that falls within the goals of sustainable development.  
4.198.   Finally, we would like to express our appreciation of the work done in replying to all the 
questions raised within the context of this review process and, on behalf of Costa Rica, wish 
Singapore a successful Trade Policy Review.  
VIET  NAM 
4.199.   It is our pleasure to associate ourselves with the ASEAN Statement presented by 
Ambassa dor Mariam Sal leh of Malaysia.  
4.200.   Singapore remains one of the world 's most open market economies and is also considered 
one of the easiest countries to do business with. That clearly explains why th e economy has 
remarkably grown at an annual rate of 3.6% in the period 201 2–2015 and bringing the inc ome per 
capita up to nearly US$ 53,000 in 2015, ranking the 11th (out of 188 countries) on the UNDP 's 
Human Development Index. It would not have been possible without a far -sighted vision, steady 
implementation plans and excellent  capability to fine -tune to and wisely align itself with evolving 
trends of the global economy.  
4.201.   Like most other countries, Singapore has felt the direct impact of the challenging global 
economic recession primarily through the trade channel. In response, Having miraculously 
graduated from a third to first world economy, Singapore is now solidly transforming its economy 
into a  high -tech and innovation -led one through a robust productivity and sk ill drive, just to name 
a few.   
4.202.   Despite being a small island c ity state with a reasonably small -sized population, Singapore 
has succeeded in serving as one of the biggest exporters of goods and services in the world. In 
2014, Singapore ranked the 9th among world merchandise exporters and the 10th among 
importers or t he 6th among the exporters and importers of trade in services.  
4.203.   Singapore is a st aunch supporter of the rules -based multilateral trading system and 
continues to pursue trade liberalization through bilateral and regional agreements. In the region, 
Singapore is proactively working with its ASEAN partners on the ASEAN Economic Community 
(AEC) in order to achieve further economic initiatives for an AEC 2025 while vigorously advocating 
inter-regional economic connectivity.  
4.204.   We appreciate the fine development of th e bilateral ties between our two countries which 
have come from strength to strength.  WT/TPR/M/343 • Singapore  
 
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  4.205.   Singapore has recently become one of the biggest trade partners and the biggest ASEAN 
partner of Viet Nam in trade and investment. In the first six months of 2016, Viet Nam becomes 
the 12th trade partner of Singapore. Singapore till now has 1,600 existing investment projects in 
Viet Nam with the total registered capital of up to US$36. 28 billio n, ranking the third out of 
114 investment partners in Viet Nam. Singapore dire ctly invests in most of the economic fields 
from oil and gas exploitation, agricultural and fishery processing to infrastructure construction, etc.  
4.206.   We look fo rward to enhancing the Viet Nam –Singapore connectivity even further in the 
year to come  
4.207.   I would li ke to conclude by putting on record our high appreciation for the fine contribution 
to the system by wishing Singapore every success in its economic and social  development and the 
Singapore d elegation a fruitful trade policy review. Majulah Singapura!  
NORW AY 
4.208.   A former Norwegian ambassad or to the WTO, Mr. Eirik Glenne  served as discussant at the 
trade policy review of Singapore back in 2004. He introduced his comments on Singapore 's trade 
policy by saying he was tempted to call Singapore 's trade policy rather  dull, but - he said – it was 
meant as a very sincere complement. Singapore was recognized for its open trade regime and 
vigorous support for the multilateral trading system, and it was not easy to find fault with its 
performance in relation to its WTO com mitments and trade liberalization efforts.  
4.209.   That statement definitively still holds true.  
4.210.   The WTO S ecretariat concludes the summary of its report by the following statement: 
Singapore has been a model of development for decades as it has successfully devel oped into a 
high-income country with  a GDP per capita of nearly US$ 53,000 in 2015. To a large extent, growth 
has been based on an open and transparent trade and investment regime using Singapore 's 
location as an advantage.  
4.211.   We note that Singapore 's economy has performed well since its trade policy review in 
2012, although the pace of growth has been more moderate than in the previous review period. 
The rate of economic growth averaged  3.6 % per year during the 2012 –2015, along with low 
inflation and low unem ployment.  
4.212.   In times of increasing economic uncertainties, it is important that countries do not resort to 
increased protectionism. Faced with the slowdown in important trading partners ' economies, 
Singapore is again demonstrating that innovation and restruc turing of the economy is a better 
strategy to deal with global economic downturns than protectionism.  
4.213.   A network of 21 regional and bilateral free trade agreements with 32 trading partners 
underpins Singapore 's trade. Merchandise trade with preferential tr ading partners accounted for 
about 80% of Singapore 's imports and 74 % of its exports in 2014.  
4.214.   With new agreements with the EU and others, participation in the TPP and other steps such 
as establishment of the ASEAN Economic Community (AEC) in 2015, Singapor e continues to be at 
the forefront of deeper regional integration while maintaining its strong multilateral commitments 
to the WTO. That is in line with our policies also.  
4.215.   Our common challenge is to utilize the regional and bilateral arrangements as stepp ing 
stones towards a better -developed and integrated multilateral trading system within the WTO.  
4.216.   We would also like to refer briefly to the comments mentioned by New Zealand on fossil 
fuels subsidies reform. We believe this is an important point.  
4.217.   Through  EFTA Norway is one of many countries that benefit from Singapore 's trade 
network of regional and bilateral free trade agreements (FTAs). I can safely say that for our part, 
we are well satisfied with our extensive bilateral trading relations. Our two -way merchandise t rade 
has grown approximately 50 % over the last five years. Singapore and Norway have a dynamic 
business relationship in industries that are of key importance to both nations. Singapore is the WT/TPR/M/343 • Singapore  
 
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  most important hub for Norwegian businesses in Asia  with more than 250 Norwegian companies 
present. As such, Singapore is - for Norway like for many others - an essential gateway to 
increasingly important markets in South East Asia.   
4.218.   As the world 's second largest port and a global financial center, Singap ore plays an 
essential role in facilitating global trade. In this context, we appreciate Singapore 's efficient port 
and logistical services. As both Norway and Singapore are important maritime nations, we 
particularly value the open market situation in Sin gapore in the maritime sector. We appreciate 
the close maritime partnership betwe en Norway and Singapore, our co operation in maritime 
technology and our shared commitment to maritime safety and freedom of navigation.  
4.219.   Let me conclude, by again emphasising t hat Norway shares with Singapore a strong 
interest in strengthening the multilateral trading system. A strong rules -based system, as provided 
by the WTO, remains crucial for small but highly integrated and open trading economies like 
Singapore and Norway. We are very pleased with our close cooperation across almost all aspects 
of trade policy and negotiations, be it on ITA, EGA, remaining Doha issues and otherwise. We look 
forward to pursuing and further enhancing our cooperation in this regard. Before clos ing, I would 
like to add the personal thanks  of all of us at the Norwegian M ission for our close and valuable 
coope ration with Singapore 's Mission to the WTO.  
PHILIPPINES  
4.220.   The Philippines would like to associate itself with the ASEAN statement in recognizin g 
Singapore as the most progressive ASEAN member in terms of trade and investment.  
4.221.   Singapore is the Philippines ' 4th major trading partner and 5th major source of foreign 
direct investments in 2015.  
4.222.   To date, Singapore is also one of the major destination s for Philippines ' young 
professionals, particularly in the medical profession, and the information and telecommunications 
industry.  
4.223.   The Philippines and Singapore enjoy a dynamic trade and investment relations manifested 
by the numerous trade and investmen t missions organized between our two countries in the past 
several years. The wide presence of Singapore investments in various sectors in the Philippines 
and vice versa also demonstrates our growing investment interest in each other 's economy.  
4.224.   Philippines  and Singapore has established the Philippines -Singapore Action Plan (PSAP) 
through a Memorandum of Understanding signed by both parties in 1998 to strengthen bilateral 
cooperation through consolidating and formulating new bilateral cooperation initiatives  over the 
immediate, medium and long -term period, taking advantage of the complementarities and 
interactions that exist between our two countries. The third round of informal consultations on the 
PSAP was held on 15 July 2015 in Singapore and the Philippin es is keen to continue the 
collaboration on the bilateral relations between our two countries through this framework.  
4.225.   The Philippines commends Singapore 's economic restructuring policies to achieve 
innovation -led growth, which include encouraging innovatio n and adoption of technology by SMEs. 
Singapore is one of the Philippines ' co-sponsors in the WTO member -led initiative on enhancing 
the participation of micro, small and medium enterprises (MSMEs) in the global trade, and we 
would like to applaud Singapor e's policies to enhance SMEs ' access to innovation expertise and 
technology solutions to ensure that SMEs remain resilient in the face of economic pressures and 
are well -positioned to seize future opportunities, both in the domestic and international marke ts.  
MYANMAR  
4.226.   We are pleased to see Singapore being recognized as a "model of development ". This is 
well-deserved when you consider its GDP per capita in 2015 o f almost US$ 53,000, its average 
economic growth rate of 3.6% per year over the review period, and  its low inflation and 
unemployment rates. We are also pleased that, according to our statistics, Singapore is now our 
5th largest trading partner and we are its 6th largest. The total value of two -way trade registered 
between us in 2014 was close on US$29 billion. We believe that both our economies have WT/TPR/M/343 • Singapore  
 
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  benefited from the fairer and sounder environment for international trade. And, looking to the 
future, with the imminent entry into force of the Agreement between Singapore and the Separate 
Customs Territor y of Taiwan, Penghu, Kinmen and Matsu on Economic Partnership (ASTEP), we 
have great confidence that our bilateral trade relationship is to be further enhanced.  
4.227.   On the subject of trade policies and practices, we have already submitted a number of 
questions  to Singapore in advance. Our particular interests range from Singapore 's measures in 
support of SMEs ' participation in public infrastructure projects, to its investment incentive 
schemes, its strategies for developing innovative capabilities, tobacco cont rol policies, certain 
copyright enforcement practices, measures to counter the decline in exports over a period of 
nineteen consecutive months, its strategies for the future economy, the state -of-play in various 
FTA negotiations, the Competitive Licensing Framework, and, lastly, the electricity packages. We 
thank Singapore for their written answers, which we shall study very carefully and may come back 
with further questions at a later stage.  
4.228.   Even though it has already a very good record of economic perform ance, the Government 
of Singapore, to its credit, continues to take steps to restructure and transform the economy 
towards innovation -led growth and higher productivity. As an important trading partner of 
Singapore, we naturally look forward to its even gr eater success in the future.  
4.229.   Finally, I would like to commend Ambassador Tan, I-Wan, for her able leadership and 
important contribution to the WTO work.  
SRI LANKA  
4.230.   Sri Lanka notes with interest the policy adoption by the Singaporean Government that 
focuses on encouraging an economic restructuring from labour -intensive growth towards 
innovation and productivity -led growth. Initiatives like Skillsfuture which aims to educate and 
equip the workforce with skills and knowhow for the future economy, infrastructure  development, 
investment in research, innovations and enterprise 2020 plan will surely help the efforts of 
Singapore Government to prepare its economy for the future.  
4.231.   In the multilateral front, my delegation appreciates Singapore 's highly valued contributi on 
to the multilateral trading system and its active engagement in the negotiations in the WTO. The 
dynamic role played by Ambassador Tan Yee Woan and her team in Geneva in proactively 
engaging in ongoing activities of WTO is highly commendable.  
4.232.   I would li ke to reflect briefly on the close bilateral rela tions between Singapore and 
Sri Lanka. Singapore is a key trading partner for Sri Lanka. Our strong bilateral relationship has 
grown steadily over the time. The value of total trade turnover between the two countries has 
increased from US$809 million in 2005 to US$1 billion in 2015, registering an increase of around 
25%. Sri Lanka was Singapore 's 39th largest trading partner and 29th largest export destination in 
2015. The two countries have concluded a few b ilateral economic agreements which include an 
Avoidance of Double Taxation Agreement signed in May 1979 and revised in April 2014, a bilateral 
Investment Protection Agreement which was signed in May 1980. Singapore is one of the leading 
contributors in FDI  in Sri Lanka and the growth of foreign direct in vestments from Singapore to 
Sri Lanka over the fast years has been significant. The two countries are keen to pursue a Sri 
Lanka -Singapore Comprehensive Trade Agreement which is currently at the preliminary stage of 
negotiations.  
PAKISTAN  
4.233.   The WTO Secretariat so well describe s Singapore as a "model of development for decades ".  
4.234.   Some of globally accepted indices tell an amazing story of excellence and achievement. 
Singapore stands at Number one in World Bank ea se of doing business, it is one the most 
competitive economies in the world only slightly behind Switzerland. It has fifth highest score on 
Logistics performance index, o n UNCTAD E -commerce index it stands at 23rd.  Most importantly 
Singapore is n o one Asia n country on Transparency corruption perception index, it has one of the 
cleanest corruption free public sector, with global standing at number 8.  WT/TPR/M/343 • Singapore  
 
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  4.235.   Since the last review carried out in 2012, Singapore economy continues to perform well 
despite global economi c downturn. Singapore 's trade in goods and services reached nearly four 
times the size of its annual GDP. Economic growth averaged 3.6% per year, both inflation and 
unemployment rates are low and FDI  inflows increased to reach US$72.1 b illion in 2014.  
4.236.   The openness and transparency of Singapore economy that have contributed to such 
sustained growth are both remarkable and commendable. We greatly appreciate Singapore 's 
futuristic approach to all issues, investments in human capital, sustainable development an d 
innovation and knowledge based economy are hall marks of Singapore.  
4.237.   We commend the well targeted strategic policies adopted and implemented by the 
Government to pursue its growth. Amongst these measures are the Trade Facilitation measures 
carried out und er the TradeFIRST system, the adoption of OIE standards in SPS specifically with 
regard to BSE -related import restrictions, as well as some well targeted Services trade related 
measures as to enhance and sustain Singapore 's growth trade in Services. Servic es contribution to 
GDP in 2015 stood at 69%.  
4.238.   We appreciate the trade liberalization regime of Singapore which gives almost duty free 
tariffs on applied MFN tariff regime with the exceptions of only few products, since such policy will 
contribute to further  enhance trade mainly with developing countries.   
4.239.   Pakistan has excellent bilateral trade relations with Singapore. Bilateral trade has increased 
for the past three years, it went up from US$831 m illion in 2013 to US$1 b illion in 2015, trade 
balance remain s largely in favo ur of Singapore and there is room to further increase trade 
potential between the two countries.  
4.240.   At WTO, we commend the active role and engagement of Singapore as being a strong 
supporter of rules -based multilateral trading system and trad e liberalization;  it is most outstanding 
friend of system in  Geneva. The role played by Ambassador Tan Yee Woan  and her team in 
different WTO fora particularly as C hair of Committee on Trade and development in Special 
Session is most outstanding. We immens ely appreciate the leadership and initiative shown by 
Singapore in putting forward the paper titled "E-commerce and development ", thus enriching the 
ongoing E -commerce debate in the WTO, from developing countries perspective.  
KINGDOM  OF SAUDI  ARABIA  
4.241.   Since the independence of Singapore in 1963, the Singaporean economy has been growing 
rapidly, as a result the GDP Growth Rate averaged 6.88 % from 1975 until 2016 and the country 
has now one of the highest GDP per capita in the world. The economy depends heavily  on foreign 
trade; especially from ports activities and from exports of electronic components and refined oil.  
4.242.   Singapore is to be recognized for having developed and strengthened its economy by 
establishing an open and free business environment, a modern infrastructure and a strong 
financial system. Its transparent regulatory system supported by a well -secured property rights 
and a wide and efficient competition regime provides commercial security for the country 's 
innovative  and resilient private sector.  
4.243.   Due to its status of one of the freest, most competitive and most business -friendly 
economies in the world, Singapore became a leading foreign direct investment recipient.  
4.244.   We commend Singapore for its trust in the multilateral trading system and for its a ctive 
engagement in negotiations with a view to concluding preferential trade agreements to secure 
more favo urable market access for its goods and services with in and outside of Asia. The 
GCC-Singapore Free Trade Agreement (GSFTA) is a milestone agreement in strengthening ties 
between Singapore and the GCC countries.  
4.245.   Since 2005, initiatives were taken to develop trade and investment relations between the 
Kingdom of Saudi Arabia and Singapore. The Saudi -Singapore Business Council (SSBC) was 
established in A pril 2006 to pave the way for closer economic ties, to strengthen trade cooperation 
and to enhance investment opportunities in the two countries.  WT/TPR/M/343 • Singapore  
 
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  4.246.   The value of two -way trade between the two countries in 2014 exceeded US$11 billion. 
The Kingdom of Saudi Ara bia primarily exports crude oil, petrochemicals plastics, minerals, 
aluminum, and construction materials to Singapore. Singapore 's exports to Saudi Arabia are 
drilling and boring machinery, various engine types, and re -exported goods.  
4.247.   In closing, Singapore  is an active Member of this O rganization and an active supporter of 
the multilateral trading system. The Kingdom of Saudi Arabia congratulates Singapore for its solid 
economic performance.  
QATAR  
4.248.   As highlighted in the Secretariat  report , Singapore 's econom y has witnessed an excellent 
performance since its previous Trade Policy Review in 2012. During the periods from 2012 until 
2015, the growth rate averaged 3.6% per year, while both the inflation and the unemployment 
rate averaging at 2 % annually.  
4.249.   The Stat e of Qatar enjoys a deep and robust trade and economic relationship, with the 
center of this relatio nship is the GCC -Singapore Free Trade Agreement, which has recently came 
into force. As highlighted by Prime Minister  Lee Hsein Loong  during the 6th Qatar -Singapore 
High-level Joint committee meeting in November 2013 , our bilateral Trade and Economic 
relationship is excellent and is growing rapidly. Bilateral Trade equates to nearly US$10 billion per 
year as Qatar is Singapore 's third largest trading partner in the Middle East. Our private sectors 
are also heavily involved with each other. Singapore companies participate in major projects in 
Qatar, examples of these activities would be the Singapore company Keppel corp which is active in 
the Oil and Gas indust ry, among others. In March 2013 , Singapore received its first LNG shipment 
from Qatar Petroleum at its new LNG terminal. We welcome Singapore 's efforts and initiatives in 
utilizing more environmentally friendly  sources of energy. Currently, 90% of Singapor e's electricity 
is generated usin g Natural Gas and we look forwa rd to work more collaboratively in the energy 
sector with our friends and colleagues in Singapore.  
4.250.   In Geneva, the Singapore delegation is, without a  doubt, an active and profound M ember 
of the WTO. They have in many occasions proved to be firm supporters of the Multilateral Trading 
system and an active participant during negotiations. We will look forward  to work more 
collaboratively with our colleagues from the Singapore Mission in the future work to come.  
EL SALVADOR  
4.251.   I will mention only a few points in order to avoid repeating the details of the remarks 
already made by the representative of Singapore, the Discussant and the delegations that have 
preceded me in taking the floor.  
4.252.   We would like t o recognize both the strong performance of Singapore's economy, since 
despite a slower rate of growth it continues to record good results, and its openness to trade as a 
cornerstone of its trade policy.  
4.253.   We have also noted the efforts being made by the Gove rnment of Singapore to confront its 
global and internal challenges by taking specific measures to diversify its exports and adopting 
important measures to maintain competitiveness and promote innovation and research.  
4.254.   At bilateral level, the trade between E l Salvador and Singapore has grown during 
recent  years, with an 86% increase in our exports in 2014. This trade is quite complementary, 
since according to the figures of the Central Reserve Bank of El Salvador, during the period 
2013-2015, El Salvador's ma in exports to Singapore were concentrated in coffee, wood, shirts and 
inputs for the plastics sector, while its imports consisted mainly of vehicles, aluminium alloys, 
food preparations, and appliances and parts thereof.  
4.255.   At multilateral level, we recognize  the important role played by Singapore and its 
commitment to multilateralism.  
4.256.   We consider that the Singapore model, despite the challenges it faces, continues to be an 
important one and an inspiration for developing countries and especially a country like  El Salvador, WT/TPR/M/343 • Singapore  
 
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  which shares some of Singapore's characteristics, such as a large population within a 
small  territory.  
BENIN 
4.257.   Singapore is undeniably an open, diversified and dynamic economy to which 
trade  contributes a very significant degree of value added.  It ranks first in the Doing Business 
Report, which is a useful benchmark for various other economies at global level. During the review 
period, the ratio of trade to GDP averaged 368%. Over the same period, trade accounted for about 
60% of GDP in terms of  value added and for half of employment. The country's economic growth 
remained stable from 2012 to 2014, at an estimated 3.9%, before subsiding to 2% in 2015.  
4.258.   Singapore has founded its policies on four major priorities, namely: the promotion of 
productivi ty and innovation -led growth; support for the rules -based multilateral trading system 
with a view to providing a fair and predictable business environment; trade liberalization measures 
to offer good prospects for all enterprises established in Singapore; and modernization of the 
regulatory framework.  
4.259.   Singapore's attachment to the multilateral trading system also finds expression in the 
ratification of the Trade Facilitation Agreement, the submission of its notification concerning the 
granting of preferenti al treatment to Least -Developed Country services in order to comply with the 
Decision on the services waiver granted to LDC service providers, its active participation 
since 2003, and its support for the work of the WTO's regular bodies in the areas of 
trade monitoring, dispute settlement and capacity building.  
4.260.   The delegation of Benin urges Singapore to continue with its efforts to restructure its 
trade  policies and provide support for the multilateral trading system.  
4.261.   The delegation of Benin would like to t ake this opportunity to thank Singapore for the 
valuable assistance it is giving Benin's Government in the area of capacity building, by providing 
student grants and training for civil servants. It hopes that other avenues for cooperation and 
joint activit ies will be explored in the near future.  
KINGDOM  OF BAHRAIN  
4.262.   Singapore has always been an important partner of Bahrain, sharing a strong economic 
relationship. As small island developing nations, we share the same challenges and opportunities 
and have learn t very much from each other through continuous cooperation over the past three 
decades.  
4.263.   The value of our total non -oil bilateral trade reached more than US$180 million last year. 
Singapore is the major destination for Bahraini chemicals and aluminium, maki ng up a large share 
of the US$91 million exports to Singapore last year, and with the implementation of the recently 
signed GCC -Singapore FTA, we foresee this economic relationship growing event further. We are 
therefore encouraged by the findings of the r eport, that Singapore 's rate of economic growth 
averaged 3.6% per year during the period under review as well as a very low unemployment rate.  
4.264.   Singapore has also maintained a safe and open business environment which is a model for 
other developing countrie s.  
ISRAEL  
4.265.   Singapore, over the last decad e, has remained one of the WTO M embers most deeply 
integrated into the global economy. A fact that makes its economy highly dependent on trade and 
a factor that helps to explain both the high importance Singapore pl aces on the rules -based 
multilateral trading system as well as the constructive role it has assume d in promoting further 
liberaliz ation in the multilateral context.  
4.266.   But this degree of openness means also a high degree of vulnerability, which Singapore 
has demonstrated to manage well by having weathered successfully the global and regional 
economic challenges faced in the last couple of years. During the period under review, Singapore WT/TPR/M/343 • Singapore  
 
- 37 - 
 
  continued deliver ing positive economic results: it grew steadily at an ann ual average rate of 3.6% 
from 2012 -2015, with very low levels of unemployment and impressive macroeconomic indicators.  
4.267.   However, in 2015 all the manufacturing clusters with the exception of the chemicals cluster 
saw a decline in output, in cluding a reversa l from the 2.7% growth in 2014.  The services 
producing industries grew by 3.4 % in 2015 which was supported mainly by the wholesale and 
retail, trade and finance, and insurance sectors.  
4.268.   Singapore 's total trade in goods in 2015 nominal terms contracted by 9. 5% to 
US$884  billion, compared to US$977 billion in 2014. Ranking in 2015 a respectable 9th among 
world goods exporters and 10th among importers.  
4.269.   As for Services, its  trade expanded modestly by 0.3 % to US$389 billion in 2015, compared 
to US$388 billion in  2014, however it continues to be the most important contributor to its GDP.  
4.270.   With a remarkable trade performance, in the period under review almost all products 
continued to enjoy duty -free treatment under the applied MFN tariff regime, except for six tari ff 
lines in some alcoholic beverages which are subject to specific duties. However, only about 70% of 
Singapore 's tariffs are bound, with a simple average bound rate of 6.9%.  
4.271.   Bilaterally, Singapore and Israel 's trade volume in 2015 exceeded US$1.354 billi on. 
Imports from Israel amounted to US$574.0 million in 2015. Israel exports mostly machinery 
chemical products, and various high -added value services  
4.272.   Singapore 's trade and investment regime is one of the most open in the world and it is 
nowadays a major r ecipient of foreign direct investments, FDI inflows increased to US$72.1 billion 
in 2014 from US$46.8 billion in 2011 and were mainly in financial and insurance services according 
to the secretariat report. However, foreigners are restricted from participa ting in a few sectors. 
Israel is interested in hearing further about the rationale for these measures and about possible 
liberalisation plans in these sectors.  
4.273.   Although Israel did not submit questions, we share some similarities in how we realise our 
economies going into the future, placing an emphasis on innovation and value -added services, in 
this context we would be interested in hearing further about the Committee on the Future 
Economy and its proposals for innovation -led growth. Also we are interested  in learning more 
about initiatives promoting advance manufacturing and on Singapore 's efforts towards improving 
labour productivity  
4.274.   Plurilaterally, we are both parties to the ITA and GPA and are pleased to be working closely 
alongside Singapore in the neg otiations on the Environmental Goods Agreement; multilaterally, we 
are both engaged in the efforts towards the successful conclusion of the DDA.  
4.275.   Israel would like to applaud Singapore 's demon strated commitment with globaliz ation, 
openness, and the Multilat eral Trading System and wish Singapore a very successful seventh 
Trade Policy Review.  
KENYA  
4.276.   Kenya and Singapore have trade and investment relations for many years which have seen 
the increase in trade between the two countries.  
4.277.   We take note that Singapore 's economic growth slowed down, registering an average GDP 
growth of about 3.6% per year during the review period. However, the inflation and 
unemployment maintained a low level rate averaging at about 1.9% and 2% annually respectively 
in the period. The gr owth was mainly driven by external demand and consumption. The service 
sector was very significant and contributed about 69% to the nominal GDP and 71% of the total 
employment.  
4.278.   We also note that Singapore 's Foreign Direct Investment increased by 18%  from 
US$61.0  billion to US$72.1 billion from 2012 to 2014. The main sector attracting FDI was financial 
and insurance services which formed 47.5%.  WT/TPR/M/343 • Singapore  
 
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  4.279.   We take note that Singapore 's trade policy objectives have remained the same since the 
last review. Further, openne ss to trade and investments remains the key feature of Singapore 's 
trade policy.  
4.280.   We commend Singapore 's commitment to the rule -based multilateral trading system and 
being a promoter of trade liberalization in the WTO. Singapore has almost all imports enter ing duty 
free under the applied MFN tariff regime.  
4.281.   We note that Singapore was among the first Members ' of the WTO to ratify the Trade 
Facilitation Agreement and has notified  all the provisions of Category A commitments and has also 
ensured up to date notif ication of the WTO provisions. We appreciate these efforts and encourage 
Singapore to continue with this spirit.  
4.282.   On the bilateral front, Singapore remains an important trade partner for Kenya. In the 
period 2012 to 2015, Kenya 's total trade with Singapore was US$695.19 million. Total exports 
were US$51.18 million while imports were US$644.01 million. The trade balance was in favour of 
Singapore. Kenya 's main exports to Singapore were ores and concentrates of base metals, tea and 
mate, petroleum oils and oil s obtained from bituminous minerals, fruits and nuts, crude vegetable 
materials, coffee and coffee substitutes, vegetables and vegetable products while imports were 
petroleum oils and oils obtained from bituminous minerals, polymers of ethylene in primary forms, 
synthetic fibres suitable for spinning, fixed vegetable fats, crude, refined or fractionated, other 
than "soft", automatic data processing machines and units thereof; magnetic, civil engineering and 
contractors ' plant and equipment, other machinery and equipment specialized for particular 
industries, paper and paperboard, insecticides, rodenticides, fungicides, herbicides, anti -sprouting, 
aircraft and associated equipment; spacecraft (including satellites).  
4.283.   Finally, Kenya once again welcomes the effo rts by Singapore in enhancing its overall 
economic growth and development through multilateral, regional and bilateral initiatives.  
CAMBODIA  
4.284.   My delegation associates itself with the statement made by Malaysia on behalf of ASEAN.  
4.285.   Cambodia and Singapore were  established bilateral relations on 10 August 1965. Economic 
relations between Cambodia and Singapore  have expanded over the years. Both countries 
cooperate closely through the Singapo re Cooperation Programme (SCP).  In 2002, Singapore 
established the Cambo dia-Singapore Training Centre in Phnom Penh under the Initiative for ASEAN 
Integration to train Cambodian officials. In January 2015, Cambodia and Singapore signed a 
Memorandum of Understanding (MoU) to cooperate on IP protection and contribute to the larg er 
development of the region 's IP ecosystem.  
4.286.   In 2012, Singapore was 6th largest trading partner of Cambodia. Singapore investments in 
Cambodia grew 11% account for 240 million. Singapore -based companies have invested in 
Cambodia in sectors such as property  development, hospitality, energy, lifestyle business, 
garment, agriculture and logistics. Bilateral trade has grown 17% since 2010 and amounted to 
$1.6 billion in 2013. Nowadays, the Economic relations and cooperation of both countries have 
been strengthe ned.  
4.287.   Finally, my delegation commends on the constructive role of Singapore in helping ASEAN 
LDCs especially in capacity building and would like to encourage Singapore to increase assistance 
in human resource development in field of IP and other advanced t rade related issues. My 
delegation wishes Singapore a successful of their 7th Trade Policy Review.  
LAO PDR 
4.288.   On behalf of Lao delegation, I would also like to join the ASEAN statement delivered by 
Ambassador Mariam Salleh of Malaysia.  
4.289.   Lao PDR, as a regional  partner of Singapore within the ASEAN, recognizes Singapore for its 
commitment to the multilateral trading system and its efforts to further liberalize its trade -related 
policies.  WT/TPR/M/343 • Singapore  
 
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  4.290.   Singapore is an important partner of Lao PDR.  The total trade in goods amou nted to 
approximately US$$72.55 million in 2015, of which imports from Singapore to Lao PDR accounted 
for US$59.17 million, while Lao PDR exports to the Singapore market amounted to 
US$13.38  million . Foreign investor in Laos with investment of 34 projects totalling to 
US$101.3  million in the period of 2008 to 2016.  
4.291.   Over the past decade bilateral trade relations between the two countries have had a 
growing trend, with further potential for developing trade relations. Lao PDR and Singapore share 
strong bilat eral relations and continue to work together not only in trade and investment, but also 
in tourism, education and other fields of cooperation and development as well as technical 
assistances to Lao PDR for the long tradition before and after Laos joining t he ASEAN.  
4.292.   Lao PDR is confident that our economic partnership will continue to grow in the future, 
especially as both countries are members of ASEAN. Let me conclude by expressing appreciation 
to Singapore for its commitment to the multilateral trade proce sses and voice in the importance of 
a rules -based multilateral trading system.  WT/TPR/M/343 • Singapore  
 
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  5  REPLIES BY THE REPRE SENTATIVE OF SINGAPORE  AND ADDITIONAL COMME NTS 
5.1.  Madam Chair, let me first thank you and our discussant, Ambassador De Mateo, for your 
insightful comments and  questions. You helped to frame and facilitate a very productive TPR 
session for us. I would also like to thank the 38 Members who spoke on Tuesday. We appreciate 
your active interest in Singapore 's trade policy and your affirmation. Your constructive sugg estions 
are also well taken. Allow me to address some of the points that you have raised.  
Facing the challenges of a global trade s lowdown  
5.2.  As several Members pointed out , Singapore has also been affected by the ongoing global 
economic slowdown. This has b een compounded by global trade lagging behind world GDP growth. 
Small and open economies like Singapore, which are proponents of free trade and efficient global 
markets, are particularly vulnerable to the vicissitudes of the global economy. At the same tim e, 
Singapore has to continue pressing on with overcoming our domestic constraints in land, labour 
and natural resources.  
Maintaining an open m arket  
5.3.  At the crossroads between globaliz ation, technological change and growing protectionist 
sentiments amidst ad justment challenges, Singapore has made clear our position. Our policies 
reflect our commitment to open markets. This includes policies that facilitate participation in 
international markets and global value chains, and also policies that welcome global pr oduction 
and trade flows to our market.   
5.4.  Staying open as the global context changes , does not mean maintaining status quo. Instead, 
we have sought to proactively press on with structural reform focusing on innovation and 
productivity -led growth. We have al so worked hard with like -minded partners and entered into 
agreements that promote trade outcomes consistent with the objectives of the multilateral system. 
We are committed to staying on the course.  
5.5.  The Committee on the Future Economy, which some Members have enquired about, is a key 
platform in this respect. We note the strong interest from Members on the work of the Committee 
which is tasked with identifying future growth opportunities and strategies for the Singapore 
economy. The Committee 's recommendat ions are expected to be published early next year. We 
will be happy to sh are our findings with Members.  
Inclusive g rowth  
5.6.  At the same time, we note debates in many parts of the world on the importance of social 
outcomes alongside the pursuit of trade benef its. We believe t his is an important point. For 
Singapore, social development and progress is a core objective, and at the same time a key 
enabler  of economic development. Many of our policies are targeted at achieving inclusive growth, 
with measures to re distribute the benefits of globaliz ation in a way that encourages 
entrepreneurship and effort, while preserving individual dignity and drive. Ambassador De Mateo 
and several Members highlighted several factors. While these are not observations unique to 
Singapore, I would like to mention two areas where Singapore has made det ermined efforts to 
improve on: f irst, income pressures reflected in the GINI coefficient; and second, women 's 
participation in the workforce.  
5.7.  To mitigate inequality, Singapore has kept  the overall tax burden low while providing 
targeted support for the low and middle -income groups. We continue to invest heavily in education 
and skills upgrading, and have also stepped up efforts in job -matching, as we believe that 
employment and quality jobs are the best and most sustainable approaches towards improving the 
standards of living of our people. To this end, Singapore has managed to sustain real income 
growth across all income groups over the past decade, with at least 3% growth in average 
household incomes per annum. But this remains a challenge and a work in progress.  
5.8.  Given our manpower  constraints, we have to maximiz e the contributions of all our people . 
This includes the need for greater female workforce participation. Our female labour fo rce 
participation rate has risen from 54% in 2006 to just above 60% in 2015, higher than the 52% WT/TPR/M/343 • Singapore  
 
- 41 - 
 
  average of OECD countries. One significant area where work c ontinues is in helping women 
re-enter the workforce after childbirth. More supportive childcare, pr oviding for longer paid 
maternity leave and promoting the adoption of flexible work arrangements are examples of 
measures we have adopted. We continue to look at ways to foster greater female participation in 
the workforce.  
Trade p olicy  
5.9.  On the issue of Si ngapore 's bound duty commitments, we are taking steps to increase it 
through our participation in the ITA and its recent expansion, and the ongoing EGA negotiations. 
Our binding coverage will be further increased in the context of future market access nego tiations. 
Meanwhile, our applied tariffs are ze ro for virtually all products.  
5.10.   On Services and Investments, Singapore maintains a generally liberal regime, consistent 
with our philosophy that a high -performing economy needs, at its core, a competitive rang e of 
supporting functions such as logistics, telecommunications and business services amongst others. 
In some specific areas, however, we have to take into account regula tory needs and 
considerations.  
5.11.   In legal services, the restrictions are only in place for the practice of Singapore law. This is 
due to our small domestic market and the need to maintain the high standards of the legal 
profession. We have fully liberaliz ed the practice of foreign and international law. In financial 
services, the expansion o f the retail banking sector is calibrated to maintain efficiency, confidence 
and stabi lity in the financial system.  
5.12.   In the telecommunications sector, price regulation is only imposed on dominant licensees to 
prevent the abuse of market power and anti -compe titive practices. The intent is to allow for 
competition, rather than to stifle it. Non -dominant licensees are not  subject to such a regulation.  
SPS 
5.13.   A few Members  also posed questions on our SPS regime. As a net food importer with no 
agricultural base, th e availability and safety of food is of utmost importance to Singapore. It is 
neither Singapore 's intent, nor in our interest, to impede the flow of imports. The measures we 
have in place are for protection of public health and safety. We have responded to  the specific 
questions raised in our written responses, and would be happy to continue discussing them on a  
bilateral basis with Members.  
NTM u nit 
5.14.   Members had also expressed interest in our newly established NTM unit. As I mentioned in 
my opening remarks , the unit 's function is two -fold. First, to identify and address NTMs faced by 
companies based in Singapore, and second , to ensure that Singapore 's trade measures are 
consistent with our international obligations. The NTM unit's work complements the work of 
UNCTAD and the Economic Research Institute for ASEAN and East Asia (ERIA) on the collection 
and cataloguing of ASEAN 's NTMs. We hope to share the outcomes of the unit 's work in time to 
come. We believe that addressing NTMs should be a priority for all o f us, and we look forward t o 
working with Members on this.  
Technical a ssistance  
5.15.   We are heartened to hear the positive feedback from some Members that have benefited 
from our various technical assistance programmes. Singapore is  committed to helping other 
developing countries participate in the multilateral trading system  through the Singapore 
Cooperation Programme . Together with  the WTO Secretariat, we organiz ed a training course on 
Trade in Services last year, as well as a Trade Dialogue ahead of MC1 0. Thi s year, we will be 
organiz ing a workshop on Agriculture and SPS, as well as one on Trade Facilitation and TBT, for 
participants in the Asia -Pacific region. We welcome opportunities to collaborate with other 
Members to strengthen the programme  and maximiz e its reach.  WT/TPR/M/343 • Singapore  
 
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  Concluding r emarks  
5.16.   Madam Chair, let me reiterate the value of the TPR process to Singapore. The honest and 
constructive views provided by Members have been most useful to us. While you have been very 
generous in your compliments, we are  also well aware that the implicit challenge in them  is for us 
to stay the course.  
5.17.   At this juncture, I am glad to inform Members that Sin gapore has responded to all 
213 written q uestions that we have received.  
5.18.   I will conclude by reaffirming Singapore 's commitment to the WTO 's rules -based multilateral 
trading system. We will continue to work with Members towards ensuring th e WTO 's strength and 
relevance.  
5.19.   On behalf of my delegation, I on ce again thank you, Madam Chair, our d iscussant, 
Ambassador Fernando De Mateo; th e Secretariat; and all Members for your active participation 
and contributions. Thank You.  
DISCUSSANT  
5.20.   Madam Chairperson Irene B.  K. Young, Permanent Secretary Mr  Loh Khum Yean, 
Ambassador Yee Woan Tan, colleagues.  
5.21.   At last Tuesday's meeting we heard some ve ry interesting and constructive comments on 
Singapore's trade policy; I would like to recall some of them, even though, plainly, that may mean 
repeating some of the things that Mr  Loh Khum Yean has just mentioned.  
5.22.   Firstly, I would like to point out that Me mbers stressed Singapore's major role as a 
fundamental defender of the Multilateral Trading System and its exemplary role in the WTO, in the 
negotiations and in the regular committees, as well as its participation in plurilateral initiatives 
such as the IT A and the EGA. In addition, Singapore is one of the Members that give high priority 
to compliance with the Organization's notification requirements.  
5.23.   All the Members praised Singapore as a model of economic development, with 
concrete  strategies for the futu re and a clear vocation for international trade, which has led to its 
rising to the top of the global classifications for doing business, competitiveness, social welfare and 
human development. They emphasized that, despite the difficult global economic env ironment, its 
trade and investment regime, one of the most open, stable and transparent in the world, has 
provided its economy with the tools it needs to absorb external shocks. They pointed out that 
trade in goods and services amounted to almost four time s the value of its GDP, one of the 
highest  rates in the world. This has been achieved by successful integration into the global and 
regional value chains.  
5.24.   Members also drew attention to the excellent management of the macroeconomic variables, 
with very low  rates of inflation and unemployment, although they warned of the possible negative 
effects of having negative rates. Repeated mention was also made of the fact that, since Singapore 
achieved independence, its GDP has grown at an average annual  rate of 9.5 %, which has resulted 
in its per capita GDP being among the highest in the world.  
5.25.   However, it was noted that in the last four years, the rate of growth of GDP has slowed, 
which could be a cause for even greater concern if the prospects for the next few yea rs are also 
taken into account. In addition, other Members urged Singapore to focus on its problems of an 
aging population, a manpower shortage, and restricted land area and energy resources.  
5.26.   Several Members applauded the fact that in order to confront the se problems, Singapore 
has implemented policies for restructuring its economy through increased productivity and 
innovation, as well as by establishing the Committee on the Future Economy. They noted that 
Singapore was an example of innovation and restruct uring of the economy being a better strategy 
for confronting economic risks than the imposition of protectionist measures.  WT/TPR/M/343 • Singapore  
 
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  5.27.   Some Members stressed the major role of tax and non -tax incentives targeted at innovation 
and R&D as an important means of underpinni ng the transformation of Singapore's  economy, 
while others applauded its support for the global reduction of fossil -fuel subsidies, which would 
reduce trade distortions and, most importantly, the emissions that produce the greenhouse effect 
and global warm ing. 
5.28.   With regard to trade facilitation, many Members recognized Singapore as a model to be 
followed, drawing attention to the risk -based system known as TradeFIRST, under which 
customs  facilitate trade in accordance with five categories of businesses, rang ing from basic to 
premium. Moreover, they recalled that Singapore was the second WTO Member to ratify the 
Trade  Facilitation Agreement and referred to the notification of all its measures under Category A.  
5.29.   Where its tariff regime is concerned, Members note d that Singapore continues to apply a 
zero tariff to all products, with the exception of 6 lines for beer and alcoholic beverages. However, 
Members pointed out that, despite this openness to trade, only 70% of tariffs are bound and that, 
although Singapore  has indicated its readiness to bind the totality of its tariffs within the context of 
broader negotiations, the unbound tariff level could create some degree of uncertainty for 
trade  operators, which led some Members to invite it to do so independently.  
5.30.   On the subject of sanitary and phytosanitary measures, some stressed the role of the 
consistency of Singapore's measures with the CODEX with respect to the question of food and 
phytosanitary protection. At the same time, other regretted that it does not app ly the principle of 
regionalization when cattle diseases break out, but applies its measures to all the Members 
of the WTO.  
5.31.   Members welcomed and emphasized Singapore's commitment to capacity building and 
technical assistance, targeted mainly at the least -developed countries.  
5.32.   Finally, Members noted the substantial increase in the attraction of foreign direct 
investment, which rose from US$48  billion to US$65  billion during the review period. At the same 
time, Members mentioned that Singapore maintains some r estrictions on foreign  participation, 
mainly in legal services, broadcasting services and the retail banking sector.  
5.33.   We are certain that Singapore will continue implementing government policies that will 
enable it to remain at the top of all the economic a nd social welfare and human development 
classification tables. Thank you very much.  
TURKEY  
5.34.   Due to my busy schedule these days, I could not participate in the first session of the 7th 
TPR meeting of Singapore. Therefore, I would like to make my statement to day.  
5.35.   Singapore is a small, but wealthy state with an open and trade -driven economy. As referred 
to in the Secretariat report, Singapore 's economy continues to perform well since its last trade 
policy review in 2012 despite slightly moderated growth rates compared to the previous review 
period. Economic growth averaged around 3.6% per year during 2012 -15, along with low inflation 
and unemployment, both averaging around 2% annually. Singapore 's GDP has grown by a 
spectacular average of 9.5% annually since in dependence in 1965. Singapore has one of the 
highest per capita GDP in the world, which exceeded US$53,000 in 2015. The growth has largely 
benefited from visionary leaders, good governance and an open and transparent trade and 
investment regime using Singa pore's location as a strategic advantage.  
5.36.   Singapore,  which is among the most liberal economies in the world, has been a steadfast 
advocate of the rules -based multilateral trading system and promotor of trade liberalization in the 
WTO. It is placed in the t op tier of many international economic performance statistics. Its deep 
integration in the global economy has been an important driver of its economic growth and 
development. I would like to express my appreciation to Singapore for setting such an excellen t 
example of a free, open, and stable trading regime. At this stage, I wish to underline that, 
Singapore has been ranked first in the World Bank 's Ease of Doing Busin ess index from 2006 till 
today.  This is one of the many aspects of the Singaporean economy  to be commended.  WT/TPR/M/343 • Singapore  
 
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  5.37.   I have to tribute to the Government of Singapore also for their policy which gives a 
particular attention to gender equality in job market as well for their efforts ensuring the 
participation of women in public and private sectors work.  
5.38.   In terms of bilateral relations, Turkey and Singapore have been enjoying strong political and 
economic relations since the early years of 70 's. Our bilateral economic relations with Singapore 
have gained a significant momentum in recent years. The bilatera l trade volume exceeded 
US$800  million, increasing approximately three fold between 2005 and 2015. However, taking into 
account the real potential of our economies, we seek to further enhance our bilateral economic 
relations with Singapore.  
5.39.   In 2014, Turki sh and Singaporean Prime Ministers signed the "Joint Declaration on a 
Strategic Partnership ", which paved the way for the exploration of further trade and investment 
flows between our respective regions. The Free Trade Agreement (FTA) between Turkey and 
Singapore was signed in November 2015 during H.E. Prime Minister Lee 's visit to Turkey on the 
occasion of the G -20 Leaders Summit. This is the most comprehensive FTA that Turkey has ever 
signed, as it includes public procurements and the services sector alon gside goods trade and 
investment. We hope that the FTA can enter into force as soon as possible so that businesses in 
Singapore and Turkey can benefit soon from this landmark Agreement.  
5.40.   I applaud Singapore 's active participation in and contributions to the  WTO negotiati ons 
under the leadership of my dear f riend, Her Excellency Ambassador Yee Woan Tan and he r able 
team in Geneva. Our two M issions enjoy great cooperation and support from each other.  
EUROPEAN  UNION  
5.41.   Let me first express our sincere appreciation  to the delegation of Singapore for the 
comprehensive presentation given on Tuesday and today.  
5.42.   The EU notes that this review has been  very helpful for better understand ing the most 
recent initiatives  carried out by Singapore, which have an impact on its tr ade policy, namely the 
"Industry Transformation Programme " as well as the launch of the "Committee on the Future 
Economy ". 
5.43.   We appreciate that in the course of this exercise Singapore has acknowledged that there are 
a few areas that need to be further impro ved and we encourage Singapore to consider the 
feedback received by Members during this review.  
5.44.   The EU looks forward to reviewing the replies to our questions  for which we also thank 
Singapore very much .  
5.45.   In conclusion, The EU thanks the delegation of Sing apore for its active and constructive  
participation in this TPR. Thank you.  
UNITED  STATES  
5.46.   Just very briefly to express the United States gratitude to Singapore for its active 
participation in this important process and, in particular, for the early circula tion of the written 
responses to questions. We have no follow -up questions for Singapore. Thank you.  
JAMAICA  
5.47.   The d elegation of Jamaica welcomes Mr. Loh Khum Yean, and the members of the 
delegation who are visiting us from Capital, to Geneva.  
5.48.   We also thank you Madam Chair for your able stewardship of Singapore 's Trade Policy 
Review and discussant Ambassador De Mateo for his invaluable contribution to this process.  
5.49.   The d elegation of Jamaica congratulates the Government of Singapore and the WTO 
Secretariat for  this fruitful execution of Singapore 's seventh Trade Policy Review. We acknowledge 
and applaud the Government and people of Singapore for the various trade and economic WT/TPR/M/343 • Singapore  
 
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  initiatives taken since their last Trade Polic y Review in the WTO. We recogniz e the ef forts made by 
the Government of Singapore to focus on four key priorities over the period under review. Indeed, 
Singapore 's efforts towards enhancing productivity and innovation -led growth; supporting the 
rules-based multilateral trading syste m; promoting trade; and moderniz ing their domestic 
regulatory regime have helped them to maintain their position as one of the leading economies of 
the current era.  
5.50.   We also wish to recogniz e Singapor e's sterling example for other M embers and their 
unwavering support i n all aspects of the multilateral negotiating agenda, in particular, in the areas 
of Trade Facilitation and the Committee on Trade and Development in Special Session.  
5.51.   The d elegation of Jamaica takes this opportunity to  extend our best wishes to the d elega tion 
of Singapore for a successful completion of the country 's seventh WTO Trade Policy Review.  WT/TPR/M/343 • Singapore  
 
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  6  CONCLUDING REMARKS B Y THE CHAIRPERSON  
6.1.  This seventh Trade Policy Review has provided an excellent opportunity for Members to better 
understand Singapore 's econo mic and trade policies and their recent developments. Our dialogue 
has been thorough and comprehensive, owing to the openness of the Singapore an delegation, led 
by Mr. Loh Khum Yean, Permanent Secretary from the Ministry of Trade and Industry; and the 
constructive comments of the discussant, Ambassador Fernando de Mateo from Mexico, and of the 
40 Members that have taken the floor.  
6.2.  Many Members congratulated Singapore for its strong economic fundamentals and successful 
development model. Members also praised  Singapore 's openness to trade and investment, and for 
creating an exemplary environment for doing business. The Singaporean economy has continued 
to perform well since the last TPR in 2012, although the pace of growth has been more moderate 
than in the pa st. Singapore has been facing new chall enges, particularly with regard  to 
productivity and an ageing population. Members welcomed Singapore 's ongoing efforts in 
restructuring the economy, as it was shifting from labour -intensive activities towards innovati on-
led growth and higher productivity.  
6.3.  With respect to specific trade measures, Members encouraged Singapore to liberalize its 
remaining restrictions on investment and trade in services, including legal services. Several 
Members sought clarification and mo re transparency regarding the array of fiscal privileges and 
other incentives that Singapore had  put in place. Questions were also raised regarding existing 
policies, such as import licensing, the rice stockpile scheme, and the vehicle quota regime. A 
recurring issue of interest was the rol e played in the economy by the S tate, government -linked 
companies, statutory boards and their companies.  
6.4.  Another area of general interest was Singapore 's tariff regime. It was noted that Singapore 
levied tariffs on only s ix tariff lines (namely beer and some other spirits), but around 30% of 
Singapore 's tariff lines were unbound, and the bound rates ranged from zero to 10%. Members 
continued to enquire about the prospect of increasing the binding coverage and reducing the gap 
between bound and applied rates, in or der to enhance predictability.  
6.5.  With respect to new trade policy initiatives, Members were particularly interested in 
regulatory changes in the area of intellectual property, where Singapore had introduced a positiv e 
patent grant system, amended copyright legislation, and passed new legislation on the protection 
of geographical indications. Several Members expressed concern, or sought clarification, 
regarding: first, certain SPS and TBT measures (for example, recogni tion of regionalization 
measures and Singapore 's plain packaging policy on tobacco products); and second, difficulties of 
foreign companies in participating in the government procurement market due to prior local 
experience requirements.  
6.6.  There was consider able interest in Singapore 's involvement in regional trade agreements, and 
the institutional framework governing its domestic economic and trade policies, notably the work 
of the dedicated Non -Tariff Measures Unit within the Ministry of Trade and Industry,  and the 
newly -established Committee on the Future Economy, which had  been tasked to identify growth 
opportunities and strategies for the country.  
6.7.  Members commended Singapore for its active role in the WTO and support for the multilateral 
trading system, a s demonstrated by its compliance with the transparency and notification 
requirements, prompt ratification of the Trade Facilitation Agreement, participation in the 
expansion of the Information Technology Agreement and the negotiations on an Environmental 
Goods Agreement,  Singapore 's provision of technical assistance to other Members, as well as its 
contribu tion to the discussions after the Tenth Ministerial Conference. Singapore 's effort in 
promoting a broad based fossil fuel subsidy reform was also acknowl edged.  
6.8.  During the discussion, Singapore explained its policy strategies in the context of the country 's 
developmental n eeds, strengths and constraints. I t also addressed issues identified by Members. It 
emphasized the importance of trade to Singapore 's eco nomy, and affirmed the country 's 
commitment to maintaining an open and competitive economy, and to a course of economic 
restructuring which could boost productivity and innovation -led growth.  WT/TPR/M/343 • Singapore  
 
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  6.9.  By now, Singapore has already responded to all advance written q uestions posed by 
Members, as well as all the additional questions that came after. I hope that Singapore will find 
Members ' perspectives and suggestions useful in reviewing and further refining its economic and 
trade policies.  
6.10.   I invite colleagues to join me in congratulating Singapore on the suc cessful conclusion of 
this TPR.  
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