Mega-trade deals can pave way for bigger pacts: Heng Swee Keat

Amid call to defend globalisation, Singapore minister says the right solution to trade friction is via the WTO

Annabeth Leow

Published Thu, Aug 30, 2018 · 09:50 PM

Singapore

GLOBALISATION needs its defenders, said Finance Minister Heng Swee Keat on Thursday, while calling on countries to embrace broader trade pacts and international mechanisms.

Mega-trade deals like the Regional Comprehensive Economic Partnership (RCEP) can pave the way for even bigger projects, he said, in a dialogue at the Singapore Institute of International Affairs's 11th Asean & Asia Forum.

Hours before the sixth round of RCEP ministerial talks were to begin at the Shangri-La Hotel, Mr Heng said of the 16-nation scheme: "I hope that it does not lead to a fragmentation of the world into major trading blocs. The idea is not that. But, based on our own experience with free trade agreements, regional agre…