Tuesday, May 29, 2007

Singapore Launches Secure Trade Partnership


On 25 May the country of Singapore announced the Secure Trade Partnership Programme (STP). It's goal is to strengthen and safeguard the security of supply chain operations, and seeks to maintain Singapore as a trusted trade hub. Launched by the Minister of State for Finance and Transport Mrs Lim Hwee Hua, the STP is a voluntary certification programme administered by Singapore Customs, which has been designated as the National Authority of the STP. This is exciting on several fronts.

First, it complies with the World Trade Organization's Framework. Secondly, it's going to create a competitive drive by other countries in the region to create similar programs, which will only make our supply chain more secure globally. Third, it's going to create growth for Singapore, because more businesses will want to conduct business there.

IBM along with 7 other companies have already been certified as part of the pilot. Bravo to Mrs Lim Hwee Hua, Minister of State for Finance and Transport, for being a leader in her region and for being an innovator.

You can get all the materials from the announcement here.

3 comments:

alex said...
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alex said...
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joyunspeakable said...

Dear Christopher

I deal with supply Chain Financing with a bank in my country. I am the first bank in Kenya to adopt financing against trade flows. Am looking to learning more from your writeups

Joe Kirigia