Trade fuels Singapore’s economy. Over the years, Singapore has forged an extensive network of 27 free trade agreements (FTAs) and in 2023, Singapore’s external trade in goods and services as a share of gross domestic product in Singapore was about 310%.
Geopolitical neutrality for Singapore is ‘not possible’ as the country continues to walk a ‘narrowing road’ in balancing trade relations with China and the US especially due to the heightened trade tensions between the two this year, says Deputy Prime Minister Gan Kim Yong.
“Singapore has never been neutral because we have to take a position on many things such as international policy. So we do take positions but the only difference is that we take positions that are always based on the interests of Singapore and Singaporeans,” he adds.
