World Trade Organization members including Singapore and the UAE are preparing to unveil a new grouping to boost “trade openness” as small and medium-sized nations bolster their own trading links in the era of US President Donald Trump.
The new grouping, to be called the Future of Investment and Trade Partnership, or “FIT-P”, is expected to include about 10 countries, with New Zealand joining Singapore and the UAE as core founding members.
Other potential members include Morocco, Rwanda, Malaysia, Uruguay, Costa Rica, Panama, Paraguay and Norway, according to diplomats and officials from Asia, Latin America and Australasia involved in developing the plans.
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