Singapore needs access to global markets to earn our living, and Free Trade Agreements play a crucial role in letting us do so. Ong Ye Kung and Tan See Leng reminded us of this in their Ministerial Statements in Parliament today.
Our network of FTAs has benefited us enormously. They create investments and opportunities for our businesses, and jobs for our people. They have helped make us a leading global hub.
The misrepresentation of the effects of the Comprehensive Economic Cooperation Agreement (CECA) with India has caused much unnecessary public concern. The two Ministers set out the facts about FTAs and CECA, to put the public debate on a sound factual basis.
Singaporeans are anxious about jobs, foreign competition, as well as the impact of the large number of foreigners working and living here. These are valid concerns which we will address. But if we put the blame on CECA, that will not solve our problem but instead make it worse.
My thanks to the dedicated officers who spent years negotiating our FTAs and helping Singapore grow its links around the world. These will give us a firm foothold as we slowly but surely find our way forward post-COVID-19. – LHL
