Gain Immediate access to our Essays
FREE access exchanged for your work, or pay £4.99
... how this can benefit Singapore in the long run. Singapore is the financial hub of Southeast Asia, and has been consistently ranked at or near the top among preferred international investment cities and top choice for a regional headquarters (FEER 13 December, 1996). With such an influence, Singapore can use its economic wealth, expertise and reputation to help her ASEAN neighbours develop their economies. Singapore has little barriers or obstacles in doing so with the ASEAN Free Trade Agreement (AFTA) signed in 1992 and the various collaboration councils initiated, such as the ASEAN Industrial Cooperation scheme, Framework Agreement on Services, e-ASEAN Task Force, etc. Hence Singapore has merely only to work and participate through these avenues to boost her neighbours' economies. The first avenue for these is through AFTA which promotes intra-regional trading. Singapore's role is highlighted in the dependency on major sources of imports from ASEAN countries. This ...