The FIT Partnership aims to strengthen free trade, boost investment, and enhance supply chain resilience.
Singapore and 13 other small and medium-sized economies have launched the Future of Investment and Trade (FIT) Partnership, pledging to defend open and fair trade as global markets face fragmentation.
Launching a Global Initiative
Announced on September 16 at a virtual ministerial meeting attended by World Trade Organization Director-General Ngozi Okonjo-Iweala, the FIT Partnership unites Brunei, Chile, Costa Rica, Iceland, Liechtenstein, Morocco, New Zealand, Norway, Panama, Rwanda, Singapore, Switzerland, the United Arab Emirates, and Uruguay. Deputy Prime Minister Gan Kim Yong represented Singapore at the launch.
Objectives and Commitments
The joint declaration outlined four key objectives: affirming open and fair trade within a rules-based system, supporting inclusive growth through access to resources and technology, addressing emerging trade issues, and boosting foreign direct investment (FDI) to drive sustainable growth.
Tackling Barriers and Building Resilience
The FIT Partnership will focus on four priorities: strengthening supply chains, facilitating investment, removing non-tariff barriers, and recognizing technology as a cross-cutting enabler. Members pledged to reduce unnecessary barriers, ensure transparency, and maintain a level playing field in trade and investment policies.
Singapore’s Role and Vision
Speaking at the launch, DPM Gan stressed that FIT initiatives are “practical tools” to help businesses navigate increasingly complex global markets. He expressed hope that the partnership would serve as a catalyst for innovation and be scaled up to reinforce the WTO’s role in global trade governance.
Practical Impact for Members
The partnership is designed to be agile, informal, and non-binding, enabling members to move swiftly in developing solutions-oriented initiatives. By fostering dialogue between governments and private stakeholders, the platform aims to deliver real-world outcomes rather than abstract commitments.
Looking Ahead: Singapore to Host First Meeting
The first FIT Ministerial Meeting will be held in Singapore on the sidelines of the Bloomberg New Economy Forum from November 19–21, where members are expected to endorse and announce a set of concrete initiatives. As the partnership grows, it will remain open to new members committed to its principles.
The creation of the FIT Partnership highlights how small and medium-sized economies are banding together to safeguard open trade and investment amid global uncertainty. For Singapore and its partners, the initiative not only strengthens their collective voice but also reinforces the multilateral trading system crucial to long-term growth and resilience.
Sources: The Business Times (2025) , CNA (2025)
Keywords: Singapore Partnership, FIT Launch, Open Trade, Global Supply Chains, WTO Strengthening, Foreign Investment
