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Enhancing global supply chain security important in fight against terrorism: PM Lee
Prime Minister Lee Hsien Loong says it is important to enhance the security of the global supply chain to prevent terrorist attacks. A more secure supply chain a system where goods are moved from suppliers to customers would also make it resilient to recover from an attack.Mr Lee was speaking at the end of the two-day APEC Summit in Hanoi. A terrorist attack, Mr Lee says, could cause trade and economic activities for countries to come to a standstill, resulting in huge losses for all. From a study just released, he says 12 APEC economies, excluding the US, would suffer a loss of some US$160 billion in exports over three years, based on a scenario where all US ports are closed for 30 days because of a terror attack. The Singapore-commissioned study also shows significant impact on GDP over the three-year period, with it getting worse if trade continues to be disrupted. Mr Lee says senior officials at this APEC meeting have supported Singapore's idea for a small group to study the recovery of international trade after a major terror attack. He says the group will work out key points of a common response and recovery plan like information sharing. So if something happens, countries would be ready to facilitate the continued flow of trade in the region. Mr Lee also touched on local and regional environmental challenges, saying there is scope for international cooperation. He said Singapore does its part for environmental protection as a small country, but hopes global rules would be fair to countries like Singapore, which faces constraints and limitations. Posted by: tipper 2006-11-19 |
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