De Risking Central Asia: What Singapore's FTA Bid Means for Its Businesses Singapore's Senior Minister Lee Hsien Loong has been touting the potential of a free trade agreement (FTA) between Singapore and Uzbekistan, which he believes can "de risk" market uncertainty for local companies.
The bid is part of a broader strategy to diversify Singapore's economy and reduce its dependence on traditional trade partners like China.
Singaporean companies have already shown interest in Central Asia, with projects like Changi Airport Group's interest in Kazakhstan's Astana airport underway. However, it's not just about tapping into new markets.