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TRADE CONNECTIVITY: PAST, PRESENT, FUTURE

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Published 30 January 2024

> As multilateral institutions built in the postwar era grapple with
> institutional paralysis and geopolitically-driven dysfunction, smaller
> economies are trying to find new ways to make trade connections. The Hinrich
> Foundation held a panel to discuss the new surge of minilateralism.

Watch the recap:



The Hinrich Foundation held a panel last week at Singapore’s Asian Civilisations
Museum, alongside the museum’s "Manila Galleon: From Asia to the Americas"
exhibition, on how smaller economies are trying to find new trade connections to
wriggle out of multilateral morass.





The panelists were Serena Liau, deputy director for green economy agreements at
Singapore’s Ministry of Trade and Industry; Stephen, Jacobi, executive director
of the New Zealand International Business Council; and Deborah Elms, Head of
Trade Policy at the Hinrich Foundation. They discussed how various groups of
countries are finding ways to forge greater trade and cross-border connectivity
– bilaterally, trilaterally, or plurilaterally – with a focus on specific issues
and shared interests in an age of Great Power geopolitical rivalry.

Moderated by Hinrich Foundation research director Chuin Wei Yap, the panelists
spoke on how businesses often keep a pragmatic outlook in the search for
alternatives from the sclerosis of multilateralism, taking a leaf from the
Manila-Acapulco Galleons that rode new tradewinds in the 16th century to expand
international commerce. 

They discussed efforts in New Zealand and Singapore to find new means to
transcend traditional trade frameworks, such as via New Zealand’s "Southern
Link", a trade connectivity corridor aimed at binding Asia and Oceania closer to
Latin America, as well as Singapore’s drive to seal more international
agreements focused on the green economy, meaning government-to-government
agreements to govern green trade and carbon flows.

The Hinrich Foundation is co-sponsor of the Asian Civilisations Museum’s Manila
Galleon exhibition which runs through 17 March 2024.

© The Hinrich Foundation. See our website Terms and conditions for our copyright
and reprint policy. All statements of fact and the views, conclusions and
recommendations expressed in this publication are the sole responsibility of the
author(s).

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Hinrich Foundation is an Asia based philanthropic organization that works to
advance mutually beneficial and sustainable global trade. We believe sustainable
global trade strengthens relationships between nations and improves people’s
lives. We support original research and education programs that build
understanding and leadership in global trade. Our approach is independent,
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