IN A much more complex global trade environment, Singapore will focus on growing new trade flows, specialised trade expertise and technologies to meet the commodity sector’s changing needs, said Cindy Khoo, managing director of Enterprise Singapore (EnterpriseSG).
In her keynote address at Commodity Trading Week Asia Pacific 2025 on Wednesday (Feb 19), Khoo emphasised that as a global trade hub with a diverse mix of 400 commodity players, of which more than 60 per cent are of Asian origin, Singapore is well-placed to support global trade flows through Asia and to the rest of the world.
In a volatile trading environment with growing trade tensions and commodity demand, Singapore is playing a more important role in facilitating global trades.
The Republic will continue to grow new trade flows that support the global energy transition, such as biofuels.
“The volume of biofuels and its feedstocks traded by our Singapore-based commodity traders grew by about 16 per cent in 2023 compared to 2022, and we expect Singapore to continue to play a key role in global biofuel trade,” said Khoo.
She added that new policy shifts, such as China’s export tax rebate removal over used cooking oil – a key biofuel feedstock – in December 2024, will reduce trade flows from China to Europe. Singapore-based biofuel players can tap the country’s position as a neutral marketplace to source from other feedback producers in the region, such as Malaysia, to support used cooking oil exports to Europe.
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Meanwhile, Singapore will grow specialised trade expertise in green commodities and data-related competencies to meet trading talent needs, noted Khoo. Examples include EnterpriseSG’s joint effort with the Singapore Economic Development Board and Nanyang Technological University in launching Carbon Markets Academy of Singapore in 2024.
Additionally, Singapore will help global traders grow their technology and innovation capabilities with a thriving startup system and national policy focus towards artificial intelligence (AI) under National AI Strategy 2.0.
“For example, our national AI research arm AI Singapore launched the 100 Experiments programme to help companies co-innovate AI solutions and build in-house AI teams,” said Khoo.
She added that EnterpriseSG partners industry players to deepen their AI presence. This includes AI centre initiatives by Japfa and Barry Callebaut.
“As technology and the changing global environment continues to reshape the trading landscape, EnterpriseSG stands ready to partner global traders to grow, innovate and deepen their capabilities in Singapore,” noted Khoo.
Commodity Trading Week Apac 2025 is held at Marina Bay Sands on Wednesday and Thursday, after its debut last year.
