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Singapore Urges Thailand to be Prepared for China's WTO accession
Singapore has moved to prepare itself for different business environment after China is admitted to the World Trade Organization (WTO), and Thailand and other countries in the region should follow suit, a Singapore minister said Monday, December 25.
George Yeo, a visiting Singapore minister who is in charge of economic affairs, raised the issue when he was holding talks with Thai Deputy Commerce Minister Gonpot Asawinvijit, the Thai News Agency reported.
With its gigantic market, China will become both a promising market and a tough rival for its trading partners in the region once it enters the world trade body, the report said.
In preparing itself for the coming challenge, Singapore had moved to join hands with countries in the region, said the minister.
Singapore has signed a trade agreement with New Zealand, and will soon seal similar accords with Japan and other countries, he noted.
Thailand and other countries in Southeast Asia should also seek cooperation from major economies to prepare themselves for tougher competition, he said.
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