Singapore’s role as commodities hub increasingly crucial amid rising trade tensions, demand for compliance: market watchers
October 20, 2024 / /
A dense network of global traders allows businesses to source from alternative markets directly from the Republic when needed
AS GEOPOLITICAL tensions divide the world, connector countries such as Singapore are playing an increasingly crucial role in supporting global trade systems for the commodities sector, market watchers told The Business Times.
The sector, these industry players say, is particularly susceptible to the disruption of trade and economic partnerships.
Bernard Aw, chief economist for the Asia-Pacific at trade credit insurance and risk management company Coface, highlighted that rising geopolitical tensions have caused major commodity markets to fragment.
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