Singapore, South Korea affirm importance of keeping trade, supply chains open amid coronavirus crisis

The Business Times | Mar 27, 2020 at 12:00 AM
  • Singapore and South Korea reiterated the importance of ensuring open trade flows and supply chain connectivity amid the coronavirus outbreak as the two countries reaffirmed their close and multifaceted economic ties.
  • Mr Chan on Wednesday announced that Singapore would work closely with six countries – Australia, Canada, Chile, New Zealand, Myanmar and Brunei – to ensure that trade lines via land, air and sea remain open for the flow of goods and essential supplies amid the challenges posed by the pandemic.
  • The RCEP includes 15 member countries, including all Asean nations, and accounts for nearly 30 per cent of the world’s gross domestic product.