PM Lee to visit Argentina and attend G20 Summit
Read more at https://www.channelnewsasia.com/news/singapore/pm-lee-hsien-loong-argentina-visit-g20-leaders-summit-10972608

By Afifah Ariffin @AfifahCNA

27 Nov 2018 01:16PM (Updated: 27 Nov 2018 01:20PM)

Ricky Lim

In July, Singapore launched negotiations for a MERCOSUR-Singapore Free Trade Agreement in July. MERCOSUR is a South American customs union made up of Argentina, Brazil, Paraguay and Uruguay, making up a market of about 295 million people with a combined GDP of US$2.9 trillion.
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Good that another FTA between Singapore with South America in the making.

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Ricky Lim

With so many FTA agreements - multi-lateral and bilateral ---- it will bolster Singapore GDP, more vibrant trade, more businesses and create more jobs.

This means that :-
(1) More business
(2) More jobs
(3) More income
(4) More earnings
(5) More investment
(6) More investment income
-- translated to more prosperity for Singapore, Singaporeans and Singapore residents.

With higher income and return for the Country - it means more social benefits can be give to Singaporeans.

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Simon Lim

@RL, in theory, theory and practice are the same but in practice, they are not. Examples of such book-smart assumptions that came to grief are too many. Our real sense of reality must never be academic only. You don't seem very smart to me. Go home and suck some milk and hopefully that can make you smarter. Remember to suck harder and be a good sucker.

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Achatek Qs

Ricky Lim Yes. Most important , this will reduce jobless rate.

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Ricky Lim

Simon Lim - You did not benefit anything from it? - then too bad - it is your loss --- while the majority in Singapore benefitted from it.

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Ricky Lim

Achatek Qs - As more trade deals are sealed, it will have a multiplier effects on the whole Singapore Economy and its trade partners' Economy.

(1) It will boost port and airport activities - due to transhipments of goods - boosting port jobs.
(2) Banks through issuing of Letter of Credit, loans etc will increase - boosting bank jobs.
(3) Logistic supply chains will become vibrant and more businesses - boosting logistics jobs.
(4) Companies doing import and export - will have more diversified markets to export or import - boosting local jobs.
(5) Companies doing deliveries will grow - boosting deliveries jobs.
(6) Manufacturing plants, assembly factories etc that produce goods will ramp up more goods - boosting manufacturing jobs.
(7) Packaging firms will have more business - boosting packaging jobs.
(8) Companies dealing with the trade will want to invest in Singapore - creating jobs locally.
(9) Investment companies who invest in shares, investment income in growing Economies - will bring in healthy income growth - due to vibrant investment growing income - boosting ROI for investment.
(10) As business do well, more people got jobs, and investment bring more income to the people -- people spending power grows - and will spend more in shopping and will boost retail business and boost retail jobs.

There are more positive Economic outcome - as more trade deals are signed.

Singapore  trade are 2 to 3 times the size of our GDP -- that contribute to tremendous growth through multiplier effects to Singapore --- due to the vision of our Government in their ability to forge many multi-lateral and bilateral trade deals.

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Ricky Lim

With good economic growth and higher income - in 2017, the Government has made the following transfer of wealth to Singaporeans :-

On average, resident households received S$4,433 per household member from various Government schemes in 2017 while households in HDB one- & two-room flats received S$10,245 per household member.
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(1) There are 1,289,900 household in Singapore
(2) 5.8% are 1 to 2 room flat = 74,814 household.
(3) 1 to 2 room flat receive S$10,245 per household x 74,814 household = $766,471,479 benefits.
(4) 1,215,086 household received S$4,433 per household = $5,386,476,238 benefits

In total = $6.152 billion are given as benefit per year to Singaporeans.

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