\n<\/p>\n
During the dialogue, Mr Wong also highlighted the impact of tariffs on the economy and called for free trade and freedom of navigation globally.<\/p>\n
\u201cWe are concerned that what’s happening in Hormuz may set a precedent for elsewhere, because if a critical international waterway can be weaponised or arbitrary tolls imposed on shipping through something like Hormuz, then countries may be tempted to do the same elsewhere,\u201d he said.<\/p>\n
He drew comparisons with the Strait of Malacca and Strait of Singapore, which he called a \u201ccritical maritime chokepoint\u201d in this part of the world.<\/p>\n
Mr Wong said he has discussed this issue with his counterparts in the other littoral states \u2013 Malaysian Prime Minister Anwar Ibrahim and Indonesian President Prabowo Subianto \u2013 and they are fully aligned on the principle that \u201cinternational waterways must remain open, freedom of navigation and the right of transit passage has to be respected\u201d.<\/p>\n
\u201cEven if you may hear rhetoric to the contrary, the leaders are aligned. We will defend these principles strongly, and we will work with partners to uphold these principles,\u201d he said.<\/p>\n
Mr Wong said Singapore has \u201cnot been able to understand\u201d the tariffs imposed by the US, but that it cannot do anything. \u201cThe right tariff should be zero,\u201d he said.<\/p>\n
He added that other countries are also putting up more trade barriers, amid increasing concern about competition.<\/p>\n
\u201cThere’s concern that exports from other countries will impact local industries, will impact jobs. So you can see the pendulum shifting,\u201d he said.<\/p>\n
While this does not mean trade will stop, the global economy will become more fragmented by regions, he added.<\/p>\n
Noting the importance of trade to Singapore, Mr Wong said the country cannot afford to turn inwards, as it \u201cwill get poor very quickly\u201d if it does so.<\/p>\n
It therefore aims to accelerate the integration in ASEAN, adding that it will have initiatives to do more on that front when it takes the chair of the regional bloc next year, he said.<\/p>\n
\u201cWe will step up our connections with existing partners, and I think there are also opportunities with new regions like Latin America, Africa and the Middle East, which we hope to do more,\u201d he said, adding that Singapore hopes to be a connector across different regions.<\/p>\n<\/div>\n
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