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RCEP brings Singapore to a new era

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The signing ceremony of the Regional Comprehensive Economic Partnership (RCEP) Agreement was signed in Hanoi, Vietnam last Sunday, which is simultaneously witnessed and executed by leaders of participating countries. Under the trade pact, members will target to cut tariffs to none or nearly zero, they will also aim to remove trade barriers and expand open markets within the now world’s largest free trade zone.

Initially, there are now 15 founding members in RCEP. The participating counties include Singapore, Malaysia, Brunei, Indonesia, the Philippines, Laos, Myanmar, Cambodia, Vietnam, Thailand, China, South Korea, Japan, New Zealand and Australia. The sum up of the overall population of the participating countries is approximately one-third of the world’s population. The GDP of the participating countries also reaches 30% of the global GDP. Now, RCEP as an integrated market, promotes fair trade within a single entity. All members are committed to deliver a clear and strong signal against unilateralism and protectionism. A multilateral trade system is RCEP’s objective and solution. The RCEP membership covers a wide range of categories including goods trade, e-commerce, investment, technology, etc.

After years of negotiation, the participating countries (although the withdrawal of India) now enjoy their first harvest. More harvests are expected. Since the outbreak of the pandemic, RCEP participating countries are continuously seeking for solutions to boost their markets and exports. Cross-countries trade and co-operation are encouraged. The market within the RCEP circle is a huge market which secures a steady demand and market for food. The sizable population in China and Indonesia create high demand in the consumer market. The agricultural products from ASEAN countries, poultry and livestock products, dairy products from Australia and NZ will soon directly benefit from the trade pact. China’s digital technology and bio-medical healthcare products would be popular among her new RCEP peer countries. We consider China as one of the core engines in RCEP. In fact, China has demonstrated to the world that her supply chain is worthwhile and value-added. China’s supply chain hence creates values and opportunities to her South-east Asian neighbors.

As one of the founding member of the RCEP, Singapore has a role to play in the trade zone giant. Singapore’s arbitration service is no doubt an excellent platform for solving and settling trade disputes in the loop. Singapore’s ideal geographical location and reputation earns her an ideal candidate for RCEP’s arbitration center. Singaporeans’ English proficiency and the sound legal system are assets to this new challenge. Ideally, RCEP may welcome other members’ admission. RCEP maybe also viewed as an extension of Belt Road Initiatives in the Asia-Pacific. We may not ignore the possibility of an integration of RCEP and the BRI in the far future. The synergy resulting from the giants’ collaboration would fuse and expand the network.

RCEP is an extension of ASEAN PLUS THREE. Old friends and traditional partners on a new extended platform. The maritime road connects and welcomes free trade from the Australia continent to Asia. Now, RCEP brings Singapore to a new era. Singapore should cherish the landed opportunities and should position her role in the RCEP soonest.

 

Chu Kar-kin 

 

 

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19 Responses to “RCEP brings Singapore to a new era”

  • Free trade is dead:

    Signing ceremonies are just for show. All the high sounding words are worth zero.

    Free trade is dead. Any country that wants to be independent has to be self reliant on many stuff:

    food,
    medicine,
    technology,
    gun,
    oil,
    satellite,
    etc.

    What happen when Microsoft or Adobe cancel their products for your country? Or when Intel chips get disabled on command?

    Singapore is not self reliant on anything. A not so deadly pandemic shows that there is not enough of everything. No egg. No mask.

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  • PAP CLOSE DOWN:

    Even if they don’t ink any FTAs, companies are perfectly free to hire from which ever country they please.

    As if the babel of foreign voices aren’t loud enough.

    So you better spend your money outside Spore.

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  • uselesstankl:

    SINGAPORE — It is not a unique problem that Singaporeans feel pressured by large numbers of foreign talent in the technology field, even though the industry depends on a diversity of such skilled workers from all over the world, Prime Minister Lee Hsien Loong said.

    He was speaking on Tuesday night (Nov 17) at the opening webinar of the

    Xxxxxx

    Shows how ” USELESS” this gov is !!!!

    Giving ” EXCUSES UPON EXCUSES ” is all they do….

    Daily, daily, monthly, monthly,

    YOU SEE THE SAME OLD CRAP !!!

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  • SinCity:

    The rich, and the powerful( like China and the  sly  like the devil, Sin)should be rubbing their hands and salivating over the “creative progress”(destructible) bearing down(wickedly) on people all over the world.

    Where do you think the convincing brain centre  in such an ambitious plan to rule the world through law and mammon comes from?

    It comes from the  most expensive reptile brain in the world,  located in a tiny island and has the biggest roaring mouth even the dragon is slapping up its vomit  like a thirsty puppy.

    The rich will get richer and the law will get more oppressive.

    The world can see how destructive the dragon is by way of “security laws”.

    Don’t underestimate the sly devil in that tiny religious island who preaches…peace.

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  • SEND FOREIGNERS HOME:

    Straits Times: Singapore needs top tech talent to build world-class teams, says PM Lee

    PM talking cock again. He does not define “top talent”. Why? A foreigner just earning the qualifying salary for Employment Pass is definitely too junior to be considered “top talent”.

    Let us be “real”. ALMOST ALL the foreigners working in Singapore are NOT “top talent”. They are just “cheap” workers because they are exempted from CPF.

    If Singapore wants “top talent” it needs to invest a lot more in Singaporeans, not foreigners.

    Singapore is not a company. It is a country. Citizens First.

    SINGAPOREANS FIRST. ALWAYS.

    SEND FOREIGNERS HOME SO SINGAPOREANS CAN TAKE THEIR JOB. IT IS THAT SIMPLE.

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  • uselesstankl:

    Last month, it was reported that Indian nationals were asking their government to hold talks with the Singapore government so as to enable them to quickly return back to Singapore to work (‘Indian nationals ask their govt to hold talks with SG to allow them to enter SG soon‘, 13 Oct).

    Xxxxxx

    Why the bloody hell these Indians so called talents, need gov support or gov ” PRESSURE”

    TO RETURN HERE ??

    IF THEY ARE INDEED TALENTED, I AM SURE EUROPE, USA, JAPAN, CHINA,

    Will want to employ their ” TALENTS”

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  • xoxo:

    So, now sgs can expect even more chinese nationals here.
    There will be more vietnamese, more burmese coming here to steal more jobs from locals.
    *free* trade agreement$ mean more like Foreign Trash Agreements more than any bilateral or multi labour flow that comes with FTA?

    SGS will bear the brunt; only TH n rich sgs stand to benefit if they are smart enough.
    Else, all will be at risk.

    PS: since India refuses to participate, will indian FTs numbers here be reduced ?

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  • Crony Papeconomics:

    Excuse me Chu, they gonna want still more of my CPF savings for their SWF rambling ventures silly.

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  • TalentedReptile:

    Look at the race profile from the government/people of these nations. You trust these people’s brain and conscience?

    Their people are rising up against their government because of social and political injustices.

    Above the rests, the Chinese stood up(dragon people) like a sore baton in your butt.

    Mankind problem begins in the House of the Lord and should end there too.

    Don’t be deceived by the knowledge of “good” these exclusive  talents(= expensive/high cost) who have been groomed as instruments  to Lord over the people.

    You are partaking from the “tree of the knowledge of good AND EVIL”, courtesy of the sly and highly educated, smart and TALENTED reptile.

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  • TUMASIK Patriot:

    Under the Lies & Deceit for the people, any form of Trade to sell our Souls and People is WORTH their while and JUSTIFY the Rewards they received…

    A Price MUST be PAID and are we accepted as we are a NATION or just a vassal of The Rich & Powerful Nations…

    You!!! The people ie Patriots & Sheep decide…

    Is it WORTH the price of Losing your Identity and Sacrifices of Our Founding Generation of Patriots & Leaders for the BENEFIT of a FEW and Majority Fake Talents whose Loyalty is where they came from and NOT where they are notarized? as citizens or PR

    “THINK” and you are!!!…stop thinking and you are NOT what your Forefathers ONCE was…Patriots and Nationalists with a sprinkling of Commie sympathizers

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  • WP Voter:

    It is trade protection rather than free trade. Such protection does not encourage innovation in SG companies since sales are guaranteed. The EU is a good example of many failures leading to Brexit.

    There is no free lunch when CN is involved.

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  • PM Wants More Top Talents:

    How do you define Top Tech Talents ? PM did not define what is top tech talent. I would define the top tech talent as skill which no Singaporeans have.

    By making this general statement, PM is allowing the companies to recruit more foreigners and classify these low level foreigners (eg from India) as top tech talents. Most of the real top tech talent will work in the USA for Microsoft, Facebook etc.

    Its time to kick out LHL and the PAP in the next GE as they keep on repeating the same mistake.

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  • uselesstankl:

    Indian govt seizes Chennai bank with “serious governance issues” and “forces” merger with DBS Bank India
    DBS to pump in additional S$450m into merged entity

    Xxxx

    Seems like the Indian gov “LOVES” to take SG gov as ” HOSTAGE” & ” SUCKERS”

    PAP MINISTERS LOVE THE IDEA OF THIS

    ” FIASCO ”

    Saying & PASSING THEMSELVES AS ” TALENTS”

    which no opposition party is able to

    ” PERFORM ” THIS KIND OF STUPIDITY !!!

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  • Ceca plus:

    Got to read the Agreement first before able to make judgement. Hope it iś not like lau goh’s ceca……..got hidden agenda!

    Don’t we get a whole lot of foreigners to replace us!

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  • opposition dude:

    Oh no, more third world aliens are going to be let in!

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  • Harder Truths:

    Wonder how many more nationalities will be coming over to make up the 10 million target. $G citizens are so dumb.

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  • Bring More FT To Spore -LHL:

    He is repeating his mistake. There is nothing we can do except vote him and the PAP Out in the coming GE.

    With God’s help, hopefully he may get Covid 19. KNNBCCB

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  • Harder Truths:

    Bring More FT To Spore -LHL:
    He is repeating his mistake. There is nothing we can do except vote him and the PAP Out in the coming GE.

    With God’s help, hopefully he may get Covid 19. KNNBCCB

    Already ‘chope’ by cancer. Don’t expect him to stay for another 5 years. His money and world-class doctors can only keep him alive for so long.

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  • Sinkaporeans:

    Trade agreements do not necessarily benefit the ordinary people who strive for a living. Under PAP, the cost of living will continue to soar and more FTs are imported into the country. More locals will lose their jobs to foreigners and the young generaton will see opportunities snatched away from them by foreigners. Locals will have to turn to gig economy, part-time jobs, drivers, food delivery, sales agents, etc. with no fix or stable income. The desperate ones will turn to crime and illegal activities. No stable income, no home, no famiy and no happiness, prosperity and progress for Sinkies. Meanwhile, FTs gained wealth and working experience here; they can return home to a comfortable retirement or use their experience as a stepping stone to move on to other countries.

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