Write 9 pages thesis on the topic the business of singapore. Since the 1960s, research has shown that Singapore has improved in its export and import sector of the economy. It has been ranked as the 15th largest importer and 14th largest exporter in the world. International trade has a great impact on Singapore’s economy. Singapore adoption of export-oriented industrialization made it easy for the country to succeed in the international market. Additionally, they have few barriers to the importation and exportation of goods and services. That means that the country has few trade barriers. The country also trades with the Most Favoured Nation (MFN) (Hinkelman & Shippey, 2004, p. 93). There are zero tariff rates which apply to some of their products. Additionally, they have six lines for alcohol beverages making it one of the best exporters of alcohol beverage. However, there are different import restrictions because of environmental, health, and security concerns. It considers free trade as an important factor which facilitates the growth of the nation. Primarily, the United States is one of the largest of Singapore’s trading partners. The United States influences Singapore’s international trade (Koh & Lin, 2004, p. 56). From the sale of manufactured goods such as computer peripherals and electronics, the country imports natural resources and agricultural products. Singapore has limited arable land, thus. it depends on the agro-technology park. Additionally, the country relies on .intermediary trade where it purchases the raw material and refined them through the manufacturing process and re-exports them to different countries in the world. Some of the companies that rely on imported raw materials are the oil refining company and wafer Fabrication Company. There are also some enterprises in Singapore which are formed to promote international trade. .One of them is the International Enterprise, which is a governmental agency that drives Singapore’s external economy. .
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