March 15th, 2012
05:13 PM GMT
Share this on:

Singapore (CNN) – An export-dependent nation with a strong service sector, Singapore was one of the first nations in Asia to suffer from the global financial crisis. But it aims to recover by becoming a strategic economic hub.

Singapore may be a small country, but thanks to its strategic location it’s one of the world's busiest ports. It is also well positioned to capitalize on growing trade links between other parts of Asia and the Middle East.

Already well known as a global logistics and trans-shipment hub, Singapore says trade with the Middle East has climbed by 36% since 2006. One example is plastics. Borouge – a joint venture between Abu Dhabi's national oil company and Austrian company Borealis – manufactures plastic pellets in Abu Dhabi and sends them to Asia through Singapore.


About Business 360

CNN International's business anchors and correspondents get to grips with the issues affecting world business, and they want your questions and feedback.

Powered by VIP