Singapore and 13 other small- and medium-sized economies have launched the Future of Investment and Trade (FIT) Partnership, a new, non-binding platform aimed at keeping markets open, improving investment flows, and tackling practical barriers to trade. The move comes amid stresses on the rules-based trading system. CNA
Who’s in: Brunei, Chile, Costa Rica, Iceland, Liechtenstein, Morocco, New Zealand, Norway, Panama, Rwanda, Singapore, Switzerland, the United Arab Emirates, and Uruguay. The announcement was made at a virtual ministerial meeting that was also attended by WTO Director-General Ngozi Okonjo-Iweala. CNA+1
What it tries to do: Members said they will develop “solutions-oriented” initiatives to reinforce the rules-based system, with early focus areas including supply-chain resilience, investment facilitation, trade facilitation and non-tariff barriers, plus using trade tech as a horizontal enabler. Officials describe FIT as an agile, informal collaboration that invites other countries aligned with its principles. singaporelawwatch.sg+1
What’s next: Singapore will host the first FIT ministerial meeting in November 2025 on the sidelines of the Bloomberg New Economy Forum, where ministers aim to endorse concrete initiatives. singaporelawwatch.sg+1
Why this matters for businesses
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Policy signal: A cross-regional group of trade-dependent economies is coordinating to reduce frictions—useful for exporters juggling origin rules and documentary requirements. Regjeringen.no
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Potential pilots: Expect practical workstreams (e.g., cutting paperwork at borders, clarifying standards, accelerating investment approvals) rather than long theoretical talks. singaporelawwatch.sg
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Open architecture: FIT is designed to be inclusive; new members could join if they buy into the principles, widening any benefits that emerge.
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