Strong Support for Better Multilateral System

Lowest Retrenchment Rate in Almost Seven Years

by REACH Singapore

20 Oct 2018 12:46PM

Singapore and the European Union signed its free trade agreement on Friday (19 Oct), indicating that both sides are open for business and are committed to free trade and the multilateral system.

“We hope that other countries will also maintain this line and will also uphold the multilateral system which we all benefit from,” said Prime Minister Lee Hsien Loong in an interview with Singapore reporters shortly after the signing ceremony at the end of the Asia-Europe Meeting (Asem) summit.

PM Lee added that the recent tensions between US and China increased the need to not just uphold multilateralism but to also improve it, including addressing new issues such as e-commerce and cybersecurity. 

Source: “Strong support for multilateral system, but work needed to update it: PM Lee”, The Straits Times, 20 October 2018.

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