“They’re not asking us to change the developing-country status,” Chan said in an interview with Bloomberg on Aug 1. “They are asking whether we will forgo the SDT privileges, which we have never availed ourselves to in the first place, so it’s a non-issue.”
SINGAPORE (Aug 5): Singapore says it has an understanding with the US that the city state does not take advantage of privileges that come with “developing country” status in the World Trade Organization (WTO).
In response to a tweet last week from US President Donald Trump accusing countries of abusing that status, and ordering his top trade negotiator to take action, Singapore’s Minister for Trade and Industry Chan Chun Sing said the government had never taken advantage of such benefits.
