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Bilateral “WTO-Plus†Free Trade Agreements : The WTO Trade Policy Review of Singapore 2004

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  • S.M. Thangavelu

    (SCAPE)

  • Toh Mun Heng
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    Abstract

    The World Trade Organisations 2004 Trade Policy Review of Singapore (WTO-TPR Singapore 2004) depicts the small and outward-oriented economy as one of the most open country to international trade and investment. The review highlights the benefits of the outward-oriented strategy that has enabled the Singapore economy to weather recent external shocks such as the Asian financial crisis to the SARS and to the recent unfavourable conditions in the Middle East. In particular, the report commended Singapores efforts on its liberalization of the services sector and its economic benefits to consumers and global trade. However, the WTO-TPR Singapore 2004 highlights several key areas of concerns : (a) the commitment to multilateral agreements with the rising number of bilateral free trade agreements signed by Singapore and (b) the lack of growth of total factor productivity, a key indicator for long-run efficiency of the economy. The paper addresses the above key concerns raised in the WTOs TPR of Singapore in terms of its commitment to global trade in terms of WTO-plus bilateral FTAs, which intends to support multilateral trading system, and its overall industrial strategies to raise its competitiveness.

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    File URL: http://www.eaber.org/node/22590
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    Bibliographic Info

    Paper provided by East Asian Bureau of Economic Research in its series Trade Working Papers with number 22590.

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    Date of creation: Jan 2005
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    Handle: RePEc:eab:tradew:22590

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    Related research

    Keywords: WTO-TPR Singapore 2004; WTO; Asian financial crisis; liberalization; bilateral free trade agreement; efficiency of the economy;

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    1. John Fernald & Brent Neiman, 2003. "Measuring productivity growth in Asia: do market imperfections matter?," Working Paper Series WP-03-15, Federal Reserve Bank of Chicago.
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