TPP more of a strategic than trade boost for Singapore

In an article titled “TPP: What’s in it for Singapore?” dtd Oct 14, 2015, Chia Yan Min (http://www.straitstimes.com/business/economy/tpp-whats-in-it-for-singapore), discusses that the impact of TPP for Singapore is more strategic than a trade boost. As per the article, the net gain in exports for Singapore is only 1.4% compared to 10% for Vietnam or 5.5% for Malaysia. While TPP will open up markets of South America for Singapore, the author contends that TPP will give a major boost to foreign firms to bid in government contracts and take larger stake in foreign firms in key sectors. Apart from that, it will lower barriers to help small to midsize firms expand overseas. However, will these stipulations prove passage of TPP difficult in the original 6 countries? Also, how will a delay in ratification of TPP agreement in the member countries impact Singapore?

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s