INTERNATIONAL TRADE AND FOREIGN INVESTMENT

Singapore International Trade and Foreign Investment

Singapore International Trade and Foreign Investment

Introduction

Singapore is a country that has grown quite significantly economically. Singapore is a county trade-driven economy whereby both foreign trade and investment of this country is at its optimum. The main reason attributed towards this grow is due to its geographical location as well as its ability to make efficient use of all available strategies. There are certain facts that support its growth. Singapore is the seventh most competitive economy in the world according to "Global Competitiveness Report 2007-2008, and 26,000 international companies have settled in Singapore. A lot of Asian companies have chosen Singapore as its headquarters, and that is how it is flourishing economically so fast. The geographical location of is such that it has a strong link between Asia, Europe, USA, Japan and China, Africa and Oceania and maintains this through a well developed transport and convenient facilities. The surface of Singapore reaches the 680 square kilometers and has a population of 4,351,400 people. In recent years, evolution has been followed holder of great strength and dynamism from an economic point of view. Within this decade from 2000 to 2010 we observe a significant growth in the economy in terms of its foreign trade and investment.

Currently, Singapore is the world's major hard disk drive supplier, important regional oil trading center, pricing center, and mixed against the center of the world's largest container port throughput. It is the important Asia-Pacific region having multinational logistics and logistics management center. More than 7,000 multinational companies have settled in Singapore 60 percent chose Singapore as a regional operations base. Many Fortunes, 500 companies such as Hewlett-Packard, Shell, Canon, IBM, and FedEx have set up a branch in Singapore. Both International trade and foreign investment of Singapore is worth taking note of as these two components are benefiting the country greatly. Singapore has well developed transport and convenient facilities and is an important link for the world as it links Asia, Europe, Africa, Oceania, the aviation center. Through these links, Singapore is deriving strategies to become world most leading country economically. The past decade 2000-2010 is a significant evidence that depicts how strong it has become economically and how much potential it has in future.

Discussion

International Trade

Singapore is the hub of international trade. Singapore's geographical location, excellent facilities, fascinating cultural background, as well as a major tourist attractions, are the success factors of her business. Singapore's economy is export-oriented countries; trade is the foundation of a nation. Singapore has been engaging in international trade activities since its very existence. International Trade is the exchange of goods and services between countries. Singapore realizes that international trade allows them to expand markets for goods and services that were not available to them without it and with the help of this it has attained competitive edge over the past ten years (2000-2010).

It has been observed that in order to arouse further economic development, the new Government aims to create ...