Shipping new products, attracting foreign traders among Singapore’s routes to Trade 2030 goals

NURTURING homegrown global traders and getting more foreign traders to base themselves here – even if their goods never pass through the port – are among Singapore’s strategies to achieve its Trade 2030 goals: increasing exports to at least S$1 trillion, up from S$805 billion now, and doubling offshore trade to US$2 trillion.

Announced earlier this year as part of the Singapore Economy 2030 plan, Trade 2030 seeks to grow trading volumes, widen the types of trading activities, and expand trade with other parts of the world. Lee Pak Sing, assistant chief executive officer of trade, connectivity and business services at Enterprise Singapore (EnterpriseSG), spoke to The Business Times about what this might involve.

Growing Singapore global traders

Plant-based cheese, biofuels, customised steel solutions, refurbished mobile phones – these are just some of the new products that Singapore companies are trading to stay ahead of the curve.