A key pillar in its economy even centuries before Singapore was founded in 1819, over the years trade gradually diversified into various sectors like manufacturing and financial services. Especially after Singapore was transformed into an Entrepot for the regional and eventually the global trade. With its economic stature outdistancing its geographic size and resources many times over, World Trade Organization now ranks Singapore as the 16th largest trading nation in the world,with Singapore’s trade 2.7 times its GDP.
Important Factors popularizing Singapore's attractiveness as an International Trading Centre
(1) Under its Most Open trading policies in the world, most goods and services are imported into the country and exported out, duty and hassle-free. But subjected to a few restrictions, of course,due to environmental, health & public safety concerns.
(2) A paperless electronic trade management platform ensuring a quick and seamless information exchange at all levels within the trading community.
(3) Stable socio-political and economic stability, together with Singapore's infrastructural excellence and lack of red tape guaranteeing an efficient and rapid movement of goods.
(4) Singapore's strategic location along the corridor connecting east and west providing easy access to supply sources and markets.
(5) Singapore is gifted with one of the world’s busiest ports and an award-winning international airport. Some 84 international airlines connect Singapore to over 180 cities in 57 countries worldwide. Its sea port, with an annual average of 140,000 vessel calls, has some 200 shipping lines linking more than 600 ports in over 120 countries worldwide.
(6) Singapore is also home to most of the international logistics service providers. The ever-expanding network of Free Trade Agreements (FTAs) eliminate barriers to trade allowing a smoother flow of goods and services and movement of people into and out of the country.
(7) As the region's financial nerve center,Singapore with its comprehensive network of financial institutions provides a range of services like trade insurance and trade financing. Under its straightforward regulatory framework governing trading activities, its rules for starting and conducting a trading business locally.
Titled UNAS and TIAS celebrate United Nations 70th Anniversary Gala Dinner co-hosted by the Trade and Industry Association (Singapore) and the United Nations Association of Singapore on the 5th of November 2015 proved to be a rousing success. The event saw many honoured guests that included Minister of State Mr. Sam Tan, and ambassadors from countries such as Japan, Germany, Chile, the European Union, Russia, the Philippines, and Brazil, amongst others, as well as the dignitaries and business leaders. Performances by the children of Chen Su Lan Methodists Home and Ms. Sherman Saw, rounded out the celebratory evening.
The evening began with opening addresses by Professor Tham Seong Chee, the President of the United Nations Association of Singapore and Associate Professor Ken Pan, President of TIAS. In commemoration of 70 years of dedicated service to people all over the planet, Minister of State for Prime Minister’s office and Ministry of Manpower, Mr. Sam Tan gave a speech on the United Nations many contributions to the world, including their participation in humanitarian efforts across South East Asia, many of which were aided by staunch UN-ally Singapore.
From November 1st to November 3rd, the 12th session of Asia Pacific Business Forums, held in Bangkok, Thailand, were the host to business-owners, entrepreneurs, and CEOs from all over Asia and the Pacific. Attendees included Mr. Michael Greenslade, Commissioner of the Pacific Islands Trade and Invest, Mr Nirvana Chaudhary, Managing Director of the Chaudhary Group, and Mr. Chandran Nair, founder of the Global Institute for Tomorrow.
TIAS, as co-organizers of the event, were in full attendance, representing the interests and perspectives of the local Singaporean business landscape. The venue, the United Nations Conference Centre, also hosted an exhibition, displaying business, goods, and services from representatives across the region, including TIAS members Gymkraft and Rev22, as well as TIAS itself. The venue provided a space and opportunity for likeminded individuals to share their business, discuss mutual problems and solutions, and discover shared strengths that would only help enhance their futures.
The parallelogram with its four triangles depicts Singapore’s economic sectors, with the red triangle representing the dynamic Trade & Industry. Of the two winding curves, the wider one in a lighter shade of red symbolizes our progressive Singapore economy.
Mahatma Gandhi once said, “Be the change you want to see in the world.”
Even now and then, stories of our forefathers are told so that their struggles and hardships may not be forgotten. Indeed a vast difference fellow Singaporeans of the third world generation have seen since the humble beginnings of our country. Because of change, Singapore is what it is today – a brightly-lit, beautiful and clean city we call our home.
All business entities importing and exporting in Singapore should first be registered with the Accounting and Corporate Regulatory Authority (ACRA). Following which, the business/company will be given a Business Registration Number which is also its Unique Entity Number
Since 1965, Singapore joined the ranks of free world countries leading up to a present day world-class city, bustling port, and prosperous economy. Not only is she established as a first world country, Singapore remains a strong foothold with her stable economy and cosmopolitan
International trading gives rise to globalisation. While every country is valued for different resources - global trade allows the use of commodities and increases consumer exposure to resources of the world. From Swiss Alps water to French wine, New Zealand honey to Thai rice
Singapore Business Federation
Singapore Chinese Chamber of Commerce and Industry
Singapore Manufacturers' Federation
Singapore Indian Chamber of Commerce and Industry
Association of Small and Medium Enterprises