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Free Trade Agreements

I am glad the “bargaining” word is used because negotiating an FTA is such a process.

You got to have something the other party wants, and you got to want something the other party has, otherwise, there’s no deal.

The trick is to get as much as what you want as possible, without giving away too much of what you have. Hopefully, the overall result is a net gain for both parties, but that will depend on perspective.

For the case of India, she wants to enable as many as possible of her citizens to earn a livelihood overseas and to remit foreign exchange home. She also wants to facilitate her IT companies and other service providers to lay their hands on a piece of the market here, but more importantly, a piece of the East Asian market, since we are a gateway to East Asia.

For the case of Singapore, she wants to expand her economic space. Temasek and GIC will lead the charge and try to crack the Indian market. Other Singapore companies can try their luck too, but it will be with their own money.

For the deal to be struck, India will allow Singaporean companies to access its huge market and commit to treating them fairly, while Singapore will commit to being more liberal with border access for qualified citizens of India as well as treating Indian companies fairly on our soil.

Call it “bargaining chip” if you want, but it’s always give and take, that’s how deals are struck. For citizens, whose opinions are never consulted, just pray hard it is not your welfare that is given away.

As to whether the deal is a net gain, it will depend on how you look at it. Can’t speak for India, but for Singapore, PMEs will face more competition, possibly wage stagnation or reduction or even displacement. For big businesses, they will enjoy “employment flexibility” due to an enlarged labour pool and therefore lower wage costs. Some parties will lose, while others will gain. As to whether it will be an overall net gain for Singapore, it’s anybody’s guess.

 

Foong Swee Fong

 

 

yyy
READER COMMENTS BELOW

6 Responses to “Free Trade Agreements”

  • Limited Identity:

    Some countries strategically allow expensive software to be copied in the country so that its people can compete in this sector without paying the real price. Its a national strategy.

    Some countries allow u fettered copying of products of the rest of tge world through manufacturing . Their rule of law is such that IP laws dont matter wheb National Interest requires copying products of the rest of the world so as to grow her economy.

    Some country rely on Exporting maids.

    You get the idea.

    The world is corrupt and dishonest defended by National Interest.

    Wars are waged citing national Interest.

    Virus…..

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  • opposition dude:

    Well we haven’t read about Indian PMETs being displaced by Singaporeans in India now have we? Stop laughing!

    Good thing that more people don’t trust PAP these days, it will be far easier to vote for the opposition when the next election is here. After all, the reasoning is that why vote for a party that doesn’t care about Singaporeans?

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  • xoxo:

    FTAs should not end up like some kind of Foreign Talents Agreement as in CECA-FTA.
    FTAs must not just be inked for GDP’s sake but for a nation’s COMMON GOOD.

    THE FTA,CECA,WITH INDIA seems to be lopsided in practice??

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  • Fat Ass Alighting @ 8 floor:

    Singaporeans love the four letter word – FREE

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  • Pap FAIL MAJOR RESPONSIBILITY:

    A gagmt is elected to serve and help,protect its citizen jobs….
    If it fail its major responsibilities to help the local in jobs that they can
    do AND GIVE AWAY SEVERAL HUNDRED THOUSANDS TO FOREIGNERS….and deprive its own citizens of jobs.
    Then this gagmt need to be voted out, because its fail its major duties to serve and help ITS OWN CITIZENS WHO VOTE FOR THIS GAGMT.
    THE COUNTRY CAN ONLY ALLOW THOSE SPECIALISED SKILLS IN LIMITED NOS TO COME IN AND IT IS THE GAGMT RESPONSIBILITIES TO TRAIN LOCALS IN THESE SKILLS SO THAT
    ITS LOCAL CITIZENS CAN HAVE JOBS AND WITH IT…..INCOME TO GET MARRIED AND SUPPORT THEIR FAMILIES.
    THE FAILING MARRIAGE RATE PARTTLY DUE TO LOCALS CANNOT GET JOBS AND THE POLICIES OF THE PAP GAGMT RESULTING IN HIGHEST COST OF LIVING IN THE WORLD HERE.
    OTHER COUNTRIES LIKE GEAT BRITAIN, FOREIGNERS LIKE INDIANS GO IN AS DRIVERS, OR CLEANERS.
    HERE THESE INDIANS COME IN AND DISPLACD LOCALS TO BECOME DRIVERS,CLEANERS, GRAB DRIVERS….THE OTHER WAY ROUND.
    PAP gagmt fail its major responsibilities to its own citizens.

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  • SG investment in india:

    Only create jobs for India no $$$$ to earn.

    No matter how you see the CECA, it’s about creating jobs in India (through Sg investments), and giving jobs to India nationals in Singapore. India government >>>>> Singapore government.

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